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Share-Based Payments (Tables)
 12 Months Ended
Jan. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

A summary of the Company’s stock option activity under all plans for Fiscal 2015 follows:

 

 

 

For the Year Ended January 30, 2016

 

 

 

 

 

 

 

Weighted-

Average

 

 

Weighted-

Average

Remaining

Contractual

 

 

Aggregate

 

 

 

Options

 

 

Exercise Price

 

 

Term

 

 

Intrinsic Value

 

 

 

(In thousands)

 

 

 

 

 

 

(In years)

 

 

(In thousands)

 

Outstanding - January 31, 2015

 

 

2,390

 

 

$

16.28

 

 

 

 

 

 

 

 

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Exercised (1)

 

 

458

 

 

$

15.25

 

 

 

 

 

 

 

 

 

Cancelled

 

 

720

 

 

$

19.38

 

 

 

 

 

 

 

 

 

Outstanding - January 30, 2016

 

 

1,213

 

 

$

14.83

 

 

 

2.2

 

 

 

567

 

Vested and expected to vest - January 30, 2016

 

 

1,206

 

 

$

14.83

 

 

 

2.2

 

 

 

566

 

Exercisable - January 30, 2016 (2)

 

 

497

 

 

$

13.52

 

 

 

3.0

 

 

 

555

 

 

(1)

Options exercised during Fiscal 2015 ranged in price from $8.09 to $16.49.

(2)

Options exercisable represent “in-the-money” vested options based upon the weighted average exercise price of vested options compared to the Company’s stock price at January 30, 2016.
Black-Scholes Option Valuation Assumptions

The fair value of stock options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

 

 

 

For the Years

Ended

 

 

 

 

January 31,

 

 

Black-Scholes Option Valuation Assumptions

 

2015

 

 

Risk-free interest rates (1)

 

 

1.5%

 

 

Dividend yield

 

 

3.1%

 

 

Volatility factors of the expected market price of the

   Company's common stock (2)

 

 

41.2%

 

 

Weighted-average expected term (3)

 

4.5 years

 

 

Expected forfeiture rate (4)

 

 

8.0%

 

 

 

(1)

Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.

(2)

Based on a combination of historical volatility of the Company’s common stock and implied volatility.

(3)

Represents the period of time options are expected to be outstanding. The weighted average expected option terms were determined based on historical experience.

(4)

Based on historical experience.
Summary of Restricted Stock Activity

A summary of the activity of the Company’s restricted stock is presented in the following tables:

 

 

 

Time-Based Restricted Stock Units

 

 

Performance-Based Restricted Stock Units

 

 

 

For the year ended

 

 

For the year ended

 

 

 

January 30, 2016

 

 

January 30, 2016

 

(Shares in thousands)

 

Shares

 

 

Weighted-Average

Grant Date

Fair Value

 

 

Shares

 

 

Weighted-Average

Grant Date

Fair Value

 

Nonvested - January 31, 2015

 

 

1,596

 

 

$

15.95

 

 

 

2,435

 

 

$

16.02

 

Granted

 

 

1,147

 

 

 

14.95

 

 

 

1,241

 

 

 

15.00

 

Vested

 

 

(591

)

 

 

16.97

 

 

 

(166

)

 

 

14.77

 

Cancelled/Forfeited

 

 

(217

)

 

 

14.83

 

 

 

(901

)

 

 

14.85

 

Nonvested - January 30, 2016

 

 

1,935

 

 

 

15.17

 

 

 

2,609

 

 

 

16.02