Stock-Based Compensation

3 Months Ended

May 02, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

For the thirteen weeks ended May 2, 2015 and May 3, 2014, stock-based compensation expense was $7.6 million and $6.5 million, respectively. As of May 2, 2015, approximately 6.6 million shares remain available for future grants of equity awards under our 2012 Omnibus Stock and Incentive Plan.

Restricted Stock Awards

Restricted stock award activity for the thirteen weeks ended May 2, 2015 was as follows:



	Number of Shares		Weighted Average Grant Date Fair Value
Unvested, beginning of period	3,918,189		$	15.70
Granted	1,190,520		18.22
Vested	(1,185,614	)	15.98
Forfeited	(247,285	)	16.77
Unvested, end of period	3,675,810		16.35

Performance-based Restricted Stock Units

For the thirteen weeks ended May 2, 2015, we granted performance-based restricted stock units (“PSUs”), contingent upon the achievement of a Company-specific performance goal during fiscal 2015. Any units earned as a result of the achievement of this goal will vest over 3 years from the date of grant and will be settled in shares of our common stock.

Performance-based restricted stock unit activity for the thirteen weeks ended May 2, 2015 was as follows:



	Number of Shares		Weighted Average Grant Date Fair Value
Unvested, beginning of period	213,453		$	15.01
Granted	526,810		18.23
Vested	(213,443	)	15.01
Forfeited	(1,130	)	18.23
Unvested, end of period	525,690		18.23

Stock Option Awards

For the thirteen weeks ended May 2, 2015 and May 3, 2014, we did not grant any stock options. In the years that we granted options, we used the Black-Scholes option-pricing model to value our stock options.

Stock option activity for the thirteen weeks ended May 2, 2015 was as follows:



	Number of Shares		Weighted Average Exercise Price
Outstanding, beginning of period	1,947,928		$	15.16
Granted	—		—
Exercised	(612,561	)	11.28
Forfeited or expired	(20,000	)	28.47
Outstanding, end of period	1,315,367		16.77
Exercisable at May 2, 2015	1,315,367		$	16.77

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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