Stock-based Compensation |
3 Months Ended | ||||
|---|---|---|---|---|---|
Apr. 29, 2017 | |||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||
| Stock-based Compensation |
Stock-based compensation cost is measured at the grant date fair value and is recognized as an expense on a straight-line basis over the employee’s requisite service period. The Company recognized $1.3 million and $1.1 million stock-based compensation expense in the thirteen weeks ended April 29, 2017 and April 30, 2016, respectively. Management Awards In March 2017, the Company granted 0.2 million shares of restricted stock to certain executives and key employees. Of the total shares awarded, 65% was in the form of performance-based restricted shares (“PSA”) while the remaining 35% was in the form of time-based restricted shares (“RSA”). In March 2016, the Company granted 0.4 million target shares of PSAs to certain executives and key employees. The number of PSAs that may ultimately vest will equal 0% to 150% of the target shares awarded subject to the achievement of pre-established performance goals and the employee’s continued employment through the third anniversary of the award date. The RSAs vest in one installment on the third anniversary of the award date. |