Share-Based Compensation

9 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION For the thirty-nine weeks ended October 31, 2020 and November 2, 2019, share-based compensation expense was $5.6 million and $5.4 million, respectively. As of October 31, 2020, approximately 10.8 million shares remain available for future grants of equity awards under our 2020 Omnibus Stock and Incentive Plan.

Restricted Stock Awards

Restricted stock awards vest in equal annual installments over a three-year period from the date of grant, except for a restricted stock award granted to our then Chief Executive Officer in fiscal 2019, which vests over a four-year period from the date of grant and is described further in the Company’s Current Report on Form 8-K/A filed with the SEC on August 20, 2019.

Restricted stock award activity for the thirty-nine weeks ended October 31, 2020 was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested, beginning of period	3,180,016	$	5.47
Granted	2,666,188	3.38
Vested	(1,231,074)	6.38
Forfeited	(992,683)	4.77
Unvested, end of period	3,622,447	3.81

Restricted Stock Units

Restricted stock units vest 100% one year from the date of grant with certain rights to defer settlement in shares of our common stock.

Restricted stock unit activity for the thirty-nine weeks ended October 31, 2020 was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested, beginning of period	71,740	$	5.81
Granted	108,750	1.25
Vested	(16,560)	8.76
Forfeited	—	—
Unvested, end of period	163,930	2.49

Performance-based Restricted Stock Units

For the thirty-nine weeks ended October 31, 2020, we granted performance-based restricted stock units ("PSUs") contingent upon the achievement of Company-specific performance goals. The annual PSU grants in March 2020 have a performance period of three fiscal years 2020 through 2022. Special off-cycle PSU grants in September 2020 have a performance period in part of fiscal 2020 through the end of fiscal 2021. Any units earned as a result of the achievement of the performance goals of the PSUs will vest three years from the date of grant for the March 2020 grants and in March 2022 for the September 2020 grants and will be settled in shares of our common stock.

Performance-based restricted stock unit activity for the thirty-nine weeks ended October 31, 2020 was as follows:


	Number of Units/ Shares	Weighted Average Grant Date Fair Value
Unvested, beginning of period	2,042,138	$	2.48
Granted	1,722,187	2.49
Vested	(29,320)	14.22
Forfeited	(763,359)	3.61
Unvested, end of period	2,971,646	2.11

Stock Option Awards

For the thirty-nine weeks ended October 31, 2020 and November 2, 2019, we did not grant any stock options.

Stock option activity for the thirty-nine weeks ended October 31, 2020 was as follows:


	Number of Options	Weighted Average Exercise Price
Outstanding, beginning of period	168,335	$	13.42
Granted	—	—
Exercised	—	—
Forfeited or expired	(87,501)	13.69
Outstanding and exercisable, end of period	80,834	13.13