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Stock-Based Compensation (Tables)
 6 Months Ended
Jul. 31, 2021
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

 

Restricted stock at January 30, 2021

 

 

0

 

 

$

0.00

 

Granted

 

 

8,162

 

 

 

32.65

 

Vested

 

 

(802

)

 

 

33.04

 

Forfeited or expired

 

 

0

 

 

 

0.00

 

Restricted stock at July 31, 2021

 

 

7,360

 

 

$

32.61

 
Summary of SARs Activity

The following table summarizes the SARs activity:

 

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-

Average

Remaining

Contractual

Term (Years)

 

Outstanding at January 30, 2021

 

 

88,400

 

 

$

7.61

 

 

 

 

 

Granted

 

 

93,800

 

 

 

30.94

 

 

 

 

 

Forfeited or expired

 

 

(2,800

)

 

 

30.94

 

 

 

 

 

Exercised

 

 

(88,400

)

 

 

7.61

 

 

 

 

 

Outstanding at July 31, 2021

 

 

91,000

 

 

$

30.94

 

 

 

2.7

 
Schedule of SARs Assumptions

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

 

 

 

July 31, 2021

 

 

August 1, 2020

 

Risk free interest rate yield curve

 

0.05% - 0.69%

 

 

0.09% - 0.21%

 

Expected dividend yield

 

0.8%

 

 

1.5%

 

Expected volatility

 

63.14%

 

 

65.03%

 

Maximum life

 

2.7 Years

 

 

2.2 Years

 

Exercise multiple

 

 

1.05

 

 

 

1.29

 

Maximum payout

 

$

5.00

 

 

$

5.00

 

Employee exit rate

 

2.2% - 9.0%

 

 

2.2% - 9.0%

 
Restricted Stock Units and Performance Stock Units [Member]  
Summary of Stock Compensation Expense

The following table summarizes information regarding stock-based compensation expense recognized for all share-settled equity awards (restricted stock units, performance stock units and restricted stock awards):

 

(In thousands)

 

Thirteen

Weeks Ended July 31, 2021

 

 

Thirteen

Weeks Ended August 1, 2020

 

 

Twenty-six

Weeks Ended July 31, 2021

 

 

Twenty-six

Weeks Ended August 1, 2020

 

Stock-based compensation expense before the

   recognized income tax effect

 

$

1,381

 

 

$

740

 

 

$

2,521

 

 

$

1,870

 

Income tax effect at statutory rate

 

$

(357

)

 

$

(219

)

 

$

(638

)

 

$

(588

)

Additional income tax (benefit)/expense on vesting of awards

 

$

(5

)

 

$

33

 

 

$

(885

)

 

$

79

 
Stock Appreciation Rights (SARs) [Member]  
Summary of Stock Compensation Expense

The following table summarizes information regarding stock-based compensation expense recognized for SARs:

 

(In thousands)

 

Thirteen

Weeks Ended July 31, 2021

 

 

Thirteen

Weeks Ended August 1, 2020

 

 

Twenty-six

Weeks Ended July 31, 2021

 

 

Twenty-six

Weeks Ended August 1, 2020

 

Stock-based compensation expense before the

   recognized income tax effect

 

$

74

 

 

$

91

 

 

$

149

 

 

$

4

 

Income tax effect at statutory rate

 

$

(19

)

 

$

(27

)

 

$

(38

)

 

$

(1

)
Restricted Stock Units and Performance Stock Units [Member]  
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

 

Restricted stock units and performance stock units at

   January 30, 2021

 

 

513,016

 

 

$

11.07

 

Granted

 

 

215,972

 

 

 

28.21

 

Vested

 

 

(210,296

)

 

 

14.85

 

Forfeited

 

 

(23,618

)

 

 

16.92

 

Restricted stock units and performance stock units at

   July 31, 2021

 

 

495,074

 

 

$

16.66