Share-Based Compensation

The following table summarizes the share-based compensation expense recognized under all of the Company’s stock plans during the three months ended May 5, 2018 and April 29, 2017 (in thousands):



	Three Months Ended
	May 5, 2018		Apr 29, 2017
Stock options	$	695	$	609
Stock awards/units	3,170		3,318
Employee Stock Purchase Plan	93		36
Total share-based compensation expense	$	3,958	$	3,963

Unrecognized compensation cost related to nonvested stock options and nonvested stock awards/units totaled approximately $5.3 million and $34.8 million, respectively, as of May 5, 2018. This cost is expected to be recognized over a weighted average period of 1.6 years. The weighted average grant date fair value of stock options granted was $5.89 and $1.57 during the three months ended May 5, 2018 and April 29, 2017, respectively.

Grants

On April 28, 2017, the Company granted select key management 1,056,042 nonvested stock units which are subject to certain performance-based vesting or market-based vesting conditions.

Annual Grants

On March 30, 2018, the Company made an annual grant of 431,371 stock options and 490,528 nonvested stock awards/units to its employees. On March 29, 2017, the Company made an annual grant of 1,283,175 stock options and 707,675 nonvested stock awards/units to its employees.

Performance-Based Awards

The Company has granted certain nonvested stock units subject to performance-based vesting conditions to select executive officers. Each award of nonvested stock units generally has an initial vesting period from the date of the grant through either (i) the end of the first fiscal year or (ii) the first anniversary of the date of grant, followed by annual vesting periods which may range from two-to-three years.

The Company has also granted a target number of nonvested stock units to select key management, including certain executive officers. The number of shares that may ultimately vest with respect to each award may range from 0% up to 200% of the target number of shares, subject to the achievement of certain performance-based vesting conditions. Any shares that are ultimately issued are scheduled to vest at the end of the third fiscal year following the grant date.

The following table summarizes the activity for nonvested performance-based units during the three months ended May 5, 2018:



	Number of Units		Weighted Average Grant Date Fair Value
Nonvested at February 3, 2018	1,300,921		$	14.01
Granted	—		—
Vested	(79,125	)	11.16
Forfeited	(27,441	)	11.16
Nonvested at May 5, 2018	1,194,355		$	14.27

Market-Based Awards

The Company has granted certain nonvested stock units subject to market-based vesting conditions to select executive officers. The number of shares that may ultimately vest will equal 0% to 150% of the target number of shares, subject to the performance of the Company’s total stockholder return (“TSR”) relative to the TSR of a select group of peer companies over a three-year period. Vesting is also subject to continued service requirements through the vesting date.

The following table summarizes the activity for nonvested market-based units during the three months ended May 5, 2018:



	Number of Units	Weighted Average Grant Date Fair Value
Nonvested at February 3, 2018	388,477	$	12.28
Granted	—	—
Vested	—	—
Forfeited	—	—
Nonvested at May 5, 2018	388,477	$	12.28