Note 12 - Share-based Compensation |
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| Share-Based Payment Arrangement [Text Block] |
12. Share-Based Compensation
Share-Based Compensation Expense
Total compensation expense, included in SG&A, and the associated tax benefits recognized related to our share-based compensation plans, was as follows:
Restricted Stock Units and Performance Stock Units
As of May 3, 2025, there were 2,818,623 shares available for issuance under the 2007 Stock Incentive Plan. Restricted stock units ("RSU") are awarded to certain officers, key employees of the Company, and nonemployee directors. Additionally, performance stock units ("PSU") are awarded to certain officers and key employees in connection with our long-term incentive program. Each RSU and PSU represents the right to receive one share of our common stock, provided that the applicable performance and vesting conditions are satisfied. PSU awards also include a performance objective based on our relative total shareholder return over the performance period to a pre-determined peer group, assuming the reinvestment of dividends. The fair value of the market condition of our PSU awards is determined using a Monte Carlo simulation as of the date of the grant.
Generally, RSU awards fully vest after the passage of time, typically over years for employees and year for nonemployee directors, provided there is continued service with the Company until the vesting date, subject to the terms of the award. PSU awards are earned only after the attainment of performance goals in connection with the relevant performance period. PSUs granted in 2024 and 2025 vest after the attainment of the performance period, which is years. Prior PSU grants vested after the attainment of the performance period of years and an additional -year period. dividends are paid or accumulated on any RSU or PSU awards. Compensation expense is recognized over the vesting period on a straight-line basis.
RSU and PSU activity for the thirteen weeks ended May 3, 2025 is summarized as follows:
The total value of RSU and PSU awards that vested during the thirteen weeks ended May 3, 2025 and May 4, 2024 was $14 million and $22 million, respectively. As of May 3, 2025, there was $58 million of total unrecognized compensation cost related to nonvested awards. |
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