Stock-Based Compensation

6 Months Ended

Aug. 03, 2013

Stock-Based Compensation [Abstract]

Stock-Based Compensation

Note 3.  Stock-Based Compensation

For the twenty-six weeks ended August 3, 2013 and July 28, 2012, stock-based compensation expense was $14.3 million and $11.0 million, respectively.  As of August 3, 2013,  approximately 8.0 million shares remain available for future grants of equity awards under our 2012 Omnibus Stock and Incentive Plan.

Restricted Stock Awards

Restricted stock activity for the twenty-six weeks ended August 3, 2013 was as follows:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested, beginning of period	3,066,264	$	13.27
Granted	2,124,600		16.97
Vested	(749,569)		14.49
Canceled	(180,808)		13.93
Unvested, end of period	4,260,487		14.87

Performance-based restricted stock activity for the twenty-six weeks ended August 3, 2013 was as follows:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested, beginning of period	34,444	$	13.69
Granted	-		-
Vested	(17,222)		13.69
Canceled	-		-
Unvested, end of period	17,222		13.69

Performance-based Restricted Stock Units

For the twenty-six weeks ended August 3, 2013, we granted performance-based restricted stock units (“PSUs”), contingent upon the achievement of a Company-specific performance goal during fiscal 2013.  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 twenty-six weeks ended August 3, 2013 was as follows:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested, beginning of period	657,316	$	15.01
Granted	612,670		16.96
Vested	(124,449)		15.01
Canceled	(46,435)		15.74
Unvested, end of period	1,099,102		16.06

Stock Option Awards

For the twenty-six weeks ended August 3, 2013 and July 28, 2012, 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 twenty-six weeks ended August 3, 2013 was as follows:

	Number of Shares		Weighted Average Exercise Price
Outstanding, beginning of period	3,851,830	$	15.91
Granted	-		-
Exercised	(498,101)		13.23
Canceled or expired	(194,644)		24.13
Outstanding, end of period	3,159,085		15.82
Exercisable at August 3, 2013	2,629,670	$	16.43