Stock-Based Compensation

9 Months Ended

Nov. 02, 2013

Stock-Based Compensation [Abstract]

Stock-Based Compensation

Note 3.  Stock-Based Compensation

For the thirty-nine weeks ended November 2, 2013 and October 27, 2012, stock-based compensation expense was $19.5 million and $18.9 million, respectively.  As of November 2, 2013, approximately 8.4 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 thirty-nine weeks ended November 2, 2013 was as follows:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested, beginning of period	3,066,264	$	13.27
Granted	2,182,270		16.95
Vested	(931,533)		13.72
Canceled	(300,021)		14.68
Unvested, end of period	4,016,980		15.06

Performance-based restricted stock activity for the thirty-nine weeks ended November 2, 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 thirty-nine weeks ended November 2, 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 thirty-nine weeks ended November 2, 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	(64,224)		15.87
Unvested, end of period	1,081,313		16.06

Stock Option Awards

For the thirty-nine weeks ended November 2, 2013 and October 27, 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 thirty-nine weeks ended November 2, 2013 was as follows:

	Number of Shares		Weighted Average Exercise Price
Outstanding, beginning of period	3,851,830	$	15.91
Granted	-		-
Exercised	(588,433)		12.89
Canceled or expired	(415,736)		24.05
Outstanding, end of period	2,847,661		15.35
Exercisable at November 2, 2013	2,396,921	$	15.77