Share-Based Compensation (Tables)

3 Months Ended

May 01, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option activity for the 13 weeks ended May 1, 2021 follows:

				Weighted- Average		Weighted- Average Remaining Contractual		Aggregate
	Options			Exercise Price		Term		Intrinsic Value
	(In thousands)					(In years)		(In thousands)
Outstanding - January 30, 2021		3,940		$	14.87
Granted		449		$	32.58
Exercised (1)		(713	)	$	16.39
Outstanding - May 1, 2021		3,676		$	16.74		5.2	$	65,533
Vested and expected to vest - May 1, 2021		2,706		$	16.67		3.6	$	34,033
Exercisable - May 1, 2021 (2)		1,578		$	16.88		1.7	$	27,902

(1) Options exercised during the 13 weeks ended May 1, 2021 ranged in price from $8.62 to $21.41.

(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 on May 1, 2021.

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:

	13 Weeks Ended			13 Weeks Ended
	May 1,			May 2,
Black-Scholes Option Valuation Assumptions	2021			2020
Risk-free interest rate (1)		0.9	%		0.6	%
Dividend yield		1.6	%		6.0	%
Volatility factor (2)		50.7	%		43.1	%
Weighted-average expected term (3)	4.5 years			4.4 years

(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 historical volatility of the Company’s common stock.

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

Summary of Restricted Stock Activity

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

	Time-Based Restricted Stock Units					Performance-Based Restricted Stock Units
	May 1, 2021					May 1, 2021
(Shares in thousands)	Shares			Weighted- Average Grant Date Fair Value		Shares			Weighted- Average Grant Date Fair Value
Nonvested - January 30, 2021		3,698		$	12.42		1,868		$	17.44
Granted		619		$	32.58		307		$	39.85
Vested		(739	)	$	8.83		(275	)	$	19.48
Cancelled		(76	)	$	11.82		(301	)	$	19.09
Nonvested - May 1, 2021		3,502		$	16.65		1,599		$	21.08