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Stock-Based Compensation (Tables)
12 Months Ended
Feb. 03, 2024
Schedule of Stock-based Compensation Expense For fiscal years 2023, 2022 and 2021, stock-based compensation expense was comprised of the following:

 

(In thousands)

 

2023

 

 

2022

 

 

2021

 

Share-settled equity awards

 

$

4,897

 

 

$

5,542

 

 

$

5,234

 

Stock appreciation rights

 

 

(42

)

 

 

(141

)

 

 

269

 

Employee stock purchase plan

 

 

32

 

 

 

33

 

 

 

28

 

Total stock-based compensation expense

 

$

4,887

 

 

$

5,434

 

 

$

5,531

 

Income tax benefit at statutory rates

 

$

1,189

 

 

$

1,368

 

 

$

1,399

 

Additional income tax benefit on vesting of share-settled awards

 

$

846

 

 

$

562

 

 

$

992

 

Summary of Restricted Stock Awards Transactions

The following table summarizes transactions for our restricted stock and other stock awards:

 

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Outstanding at January 28, 2023

 

 

0

 

 

$

0.00

 

Granted

 

 

21,462

 

 

 

21.90

 

Vested

 

 

(21,462

)

 

 

21.90

 

Outstanding at February 3, 2024

 

 

0

 

 

$

0.00

 

Summary of SARs Activity

The following table summarizes SARs activity:

 

 

 

Number of
Shares

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Outstanding at January 28, 2023

 

 

76,000

 

 

$

30.94

 

 

 

 

Granted

 

 

0

 

 

 

0.00

 

 

 

 

Forfeited

 

 

(7,800

)

 

 

30.94

 

 

 

 

Exercised

 

 

0

 

 

 

0.00

 

 

 

 

Outstanding at February 3, 2024

 

 

68,200

 

 

$

30.94

 

 

 

0.2

 

Schedule of SARs Assumptions

The fair value was estimated using a trinomial lattice model with the following assumptions:

 

 

 

February 3,
2024

 

 

January 28,
2023

 

Risk free interest rate yield curve

 

3.99%-5.49%

 

 

3.62%-4.68%

 

Expected dividend yield

 

 

1.8

%

 

1.3%

 

Expected volatility

 

 

47.54

%

 

 

65.42

%

Maximum life

 

0.2 Years

 

 

1.2 Years

 

Exercise multiple

 

 

1.03

 

 

 

1.03

 

Maximum payout

 

$

5.00

 

 

$

5.00

 

Employee exit rate

 

2.2% - 9.0%

 

 

2.2% - 9.0%

 

Share-settled Equity Awards  
Summary of Restricted Stock Awards Transactions

The following table summarizes transactions for our restricted stock units and performance stock units:

 

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Outstanding at January 28, 2023

 

 

560,323

 

 

$

23.27

 

Granted

 

 

380,653

 

 

 

24.99

 

Vested

 

 

(284,427

)

 

 

16.83

 

Forfeited

 

 

(77,242

)

 

 

27.12

 

Outstanding at February 3, 2024

 

 

579,307

 

 

$

27.04