v3.22.2.2
Stock-Based Compensation (Tables)
 9 Months Ended
Oct. 29, 2022
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity Under Stock Option Plan
The following table summarizes stock option activity for the thirty-nine weeks ended October 29, 2022 (aggregate intrinsic value in thousands):
Stock
Options		Grant Date
Weighted
Average
Exercise Price		Weighted
Average
Remaining
Contractual
Life (in Years)		Aggregate
Intrinsic
Value (1)
Outstanding at January 29, 20221,570,211 $9.02 
Granted522,500 $9.37 
Exercised(13,500)$4.13 
Forfeited(35,500)$9.66 
Expired(60,468)$14.63 
Outstanding at October 29, 20221,983,243 $8.96 7.6$2,211 
Exercisable at October 29, 2022759,043 $9.52 5.9$836 
(1)Intrinsic value for stock options is defined as the difference between the market price of our Class A common stock on the last business day of the fiscal period and the weighted average exercise price of in-the-money stock options outstanding at the end of the fiscal period. The market value per share was $8.85 at October 29, 2022.
Assumptions Used to Estimate Fair Value of Stock Options Granted
The fair values of stock options granted during the thirteen and thirty-nine weeks ended October 29, 2022 and October 30, 2021 were estimated on the grant date using the following assumptions:
Thirteen Weeks EndedThirty-Nine Weeks Ended
 October 29,
2022		October 30,
2021		October 29,
2022		October 30,
2021
Weighted average grant-date fair value per option granted$3.82$7.96$4.94$5.69
Expected option term (1)
5.2 years5.3 years5.2 years5.4 years
Weighted average expected volatility factor (2)
58.6%59.4%58.6%59.9%
Weighted average risk-free interest rate (3)
3.6%1.0%2.4%0.9%
Expected annual dividend yield (4)
—%—%—%—%
(1)The expected option term of the awards represents the estimated time that options are expected to be outstanding based upon historical option data.
(2)Stock volatility for each grant is measured using the historical daily price changes of our common stock over the most recent period equal to the expected option term of the awards.
(3)The risk-free interest rate is determined using the rate on treasury securities with the same term as the expected life of the stock option as of the grant date.
(4)We do not currently have a dividend policy.
Summary of Status of Non-Vested Restricted Stock
The following table summarizes the status of non-vested RSAs changes during the thirty-nine weeks ended October 29, 2022:
Restricted
Stock		Weighted
Average
Grant-Date
Fair Value
Nonvested at January 29, 202245,464 $10.56 
Granted63,492 $7.56 
Vested(35,472)$9.02 
Nonvested at October 29, 202273,484 $8.71 
Schedule of Stock Based Compensation The following table summarizes share-based compensation expense recorded in the Consolidated Statements of Income (in thousands):
 Thirteen Weeks EndedThirty-Nine Weeks Ended
 October 29,
2022		October 30,
2021		October 29,
2022		October 30,
2021
Cost of goods sold (1)
$100 $75 $280 $119 
Selling, general, and administrative513 446 1,484 1,298 
Total share-based compensation$613 $521 $1,764 $1,417 
(1)Share-based compensation expense for the thirty-nine weeks ended October 30, 2021 includes forfeiture credits due to the departure of the Company's prior Chief Merchandising Officer effective March 19, 2021.