Equity-Based Compensation
 3 Months Ended
May. 01, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Equity-Based Compensation

Note 7: Equity-Based Compensation

Compensation expense related to stock options, RSU’s and restricted stock is as follows:

 

     Thirteen Weeks      Thirteen Weeks  
   Ended      Ended  
   May 1, 2016      May 3, 2015  

Stock options

    $ 953       $ 481   

RSU’s and restricted stock

      407         68   
  

 

 

     

 

 

  

Total equity-based compensation expense

    $ 1,360       $ 549   
  

 

 

     

 

 

  

Transactions related to stock option awards during the thirteen weeks ended May 1, 2016, were as follows:

 

     2014 Stock Incentive Plan      2010 Stock Incentive Plan  
     Service based options      Service based options      Performance based options  
            Weighted            Weighted            Weighted  
          Average            Average            Average  
     Number      Exercise      Number     Exercise      Number     Exercise  
     of Options      Price      of Options     Price      of Options     Price  

Outstanding at January 31, 2016

      699,179       $ 21.72         451,401      $ 7.07         1,890,424      $ 4.57   

Granted

      279,915         39.14         —          —           —          —     

Exercised

      —           —           (6,661 )      4.46         (88,732 )      4.51   
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Outstanding at May 1, 2016

      979,094       $ 26.70         444,740      $ 7.11         1,801,692      $ 4.57   
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Exercisable at May 1, 2016

      105,382       $ 31.71         275,001      $ 6.49         1,801,692      $ 4.57   
  

 

 

     

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

The total intrinsic value of options exercised during the thirteen weeks ended May 1, 2016 and May 3, 2015 was $3,151 and $7,133, respectively. The unrecognized expense related to our stock option plan totaled approximately $6,234 as of May 1, 2016 and will be expensed over a weighted average period of 1.9 years. The average remaining term for all options outstanding at May 1, 2016 is 6.1 years.

 

Transactions related to restricted shares and RSU’s during the thirteen weeks ended May 1, 2016 were as follows:

 

            Weighted  
          Average  
        Shares           Average Fair
Value		  

Outstanding at January 31, 2016

      70,534       $ 31.75   

Granted

      71,222         39.15   

Vested

      (10,799 )       31.94   
  

 

 

     

 

 

  

Outstanding at May 1, 2016

      130,957       $ 35.76   
  

 

 

     

 

 

  

Fair value of our restricted shares and RSU’s is based on our closing stock price on the date of grant. The unrecognized expense related to our unvested restricted shares and RSU’s was $4,580 as of May 1, 2016 and will be expensed over a weighted average period of 2.4 years.