Share-Based Compensation (Tables)
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6 Months Ended |
Aug. 03, 2019 |
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| Share-based Payment Arrangement, Noncash Expense [Abstract] |
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| Schedule of Shared-based Compensation Expense |
The following summarizes share-based compensation expense: | | | | | | | | | | | | | | | | | | Thirteen Weeks Ended | | Twenty-Six Weeks Ended | | August 3, 2019 | | August 4, 2018 | | August 3, 2019 | | August 4, 2018 | | (in thousands) | Restricted stock units | $ | 2,119 |
| | $ | 2,933 |
| | $ | 4,329 |
| | $ | 6,332 |
| Stock options | 126 |
| | 254 |
| | 164 |
| | 587 |
| Performance-based restricted stock units | 179 |
| | 265 |
| | 303 |
| | 347 |
| Total share-based compensation | $ | 2,424 |
| | $ | 3,452 |
| | $ | 4,796 |
| | $ | 7,266 |
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| Schedule Activity related to Restricted Stock Units, Including Awards with Performance Conditions |
The Company’s activity with respect to RSUs, including awards with performance conditions granted prior to 2018, for the twenty-six weeks ended August 3, 2019 was as follows: | | | | | | | | Number of Shares | Grant Date Weighted Average Fair Value Per Share | | (in thousands, except per share amounts) | Unvested, February 2, 2019 | 3,064 |
| $ | 8.95 |
| Granted | 3,386 |
| $ | 3.80 |
| Vested | (1,117 | ) | $ | 10.30 |
| Forfeited | (497 | ) | $ | 7.22 |
| Unvested, August 3, 2019 | 4,836 |
| $ | 5.21 |
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| Schedule of Activity related to Stock Options |
The Company’s activity with respect to stock options during the twenty-six weeks ended August 3, 2019 was as follows: | | | | | | | | | | | | | | | Number of Shares | | Grant Date Weighted Average Exercise Price Per Share | | Weighted-Average Remaining Contractual Life (in years) | | Aggregate Intrinsic Value | | (in thousands, except per share amounts and years) | Outstanding, February 2, 2019 | 2,379 |
| | $ | 16.40 |
| | | | | Granted | 2,320 |
| | $ | 2.60 |
| | | | | Exercised | — |
| | $ | — |
| | | | | Forfeited or expired | (607 | ) | | $ | 15.23 |
| | | | | Outstanding, August 3, 2019 | 4,092 |
| | $ | 8.75 |
| | 7.3 | | $ | — |
| Expected to vest at August 3, 2019 | 2,020 |
| | $ | 3.27 |
| | 9.8 | | $ | — |
| Exercisable at August 3, 2019 | 1,607 |
| | $ | 17.39 |
| | 3.4 | | $ | — |
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| Supplemental Stock Options Information |
The following provides additional information regarding the Company's stock options: | | | | | | Twenty-Six Weeks Ended | | August 3, 2019 | | (in thousands, except per share amounts) | Weighted average grant date fair value of options granted (per share) | $ | 1.25 |
| Total intrinsic value of options exercised | $ | — |
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| Schedule of Weighted-Average Assumptions, Stock Options |
The fair value of stock options was estimated at the grant date using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions: | | | | | Twenty-Six Weeks Ended | | August 3, 2019 | Risk-free interest rate (1) | 1.93 | % | Price volatility (2) | 47.27 | % | Expected term (years) (3) | 6.29 |
| Dividend yield (4) | — |
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| | (1) | Represents the yield on U.S. Treasury securities with a term consistent with the expected term of the stock options. |
| | (2) | Primarily based on the historical volatility of the Company's common stock over a period consistent with the expected term of the stock options. |
| | (3) | Calculated using the midpoint scenario, which combines historical exercise data with hypothetical exercise data for outstanding options. The Company believes this data currently represents the best estimate of the expected term of granted employee stock options. |
| | (4) | The Company does not currently plan on paying regular dividends. |
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