v3.26.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Jan. 31, 2026
STOCK-BASED COMPENSATION  
Summary of Stock Option Activity

  ​ ​ ​

  ​ ​ ​

WEIGHTED-AVERAGE

OPTIONS

EXERCISE PRICE

Outstanding—February 1, 2025

 

3,652,114

$

212.65

Granted

 

369,750

178.08

Exercised

 

(82,896)

62.12

Cancelled

 

(200,495)

249.76

Outstanding—January 31, 2026

 

3,738,473

$

210.58

Schedule of Assumptions Used to Estimate Fair Value of Stock Options Issued

  ​ ​ ​ ​ ​YEAR ENDED

 

  ​ ​ ​

JANUARY 31,

  ​ ​ ​

FEBRUARY 1,

  ​ ​ ​

FEBRUARY 3, 

 

2026

2025

2024 

 

Expected volatility

 

70.7

%  

56.8

%  

54.3

%  

Expected life (years)

 

6.9

 

7.2

 

7.3

 

Risk-free interest rate

 

4.3

%  

4.5

%  

3.9

%  

Dividend yield

 

 

 

Summary of Additional Information about Stock Options

  ​ ​ ​ ​ ​YEAR ENDED

  ​ ​ ​

JANUARY 31,

  ​ ​ ​

FEBRUARY 1,

  ​ ​ ​

FEBRUARY 3, 

2026

2025

2024 

(in thousands, except per share amounts)

Weighted-average fair value per share of stock options granted

$

123.25

$

172.87

$

160.57

Aggregate intrinsic value of stock options exercised

 

12,735

 

90,058

 

34,556

Fair value of stock options vested

 

34,155

 

27,063

 

19,113

Stock options outstanding, vested or expected to vest, and exercisable

OPTIONS OUTSTANDING

OPTIONS EXERCISABLE

  ​ ​ ​

  ​ ​ ​

WEIGHTED-

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

AVERAGE

WEIGHTED-

WEIGHTED-

REMAINING

AVERAGE

AVERAGE

NUMBER OF

CONTRACTUAL LIFE

EXERCISE

NUMBER OF

EXERCISE

RANGE OF EXERCISE PRICES

OPTIONS

(in years)

PRICE

OPTIONS

PRICE

$25.39 — $44.52

 

87,943

0.3

$

35.34

87,943

$

35.34

$50.00 — $50.00

 

1,000,000

1.3

50.00

1,000,000

50.00

$90.50 — $154.82

546,215

3.5

134.34

380,975

130.14

$157.77 — $264.27

 

632,040

8.0

212.33

96,136

230.95

$265.83 — $331.54

624,075

7.2

286.20

154,821

305.96

$339.50 — $352.66

29,000

7.4

346.39

6,900

348.34

$385.30 — $713.52

819,200

4.9

412.48

745,303

398.95

Total

 

3,738,473

 

$

210.58

 

2,472,078

$

190.93

Vested or expected to vest

 

3,496,800

 

$

207.60

 

  ​

 

  ​

Schedule of options outstanding, vested or expected to vest, and exercisable

WEIGHTED-

WEIGHTED-

AGGREGATE

AVERAGE

AVERAGE

INTRINSIC

EXERCISE

REMAINING TERM

VALUE

SHARES

  ​ ​ ​

PRICE

  ​ ​ ​

(in years)

  ​ ​ ​

(in thousands)

Options outstanding

3,738,473

$

210.58

4.5

$

208,324

Options vested or expected to vest

3,496,800

207.60

4.3

205,991

Options exercisable

2,472,078

190.93

3.0

190,232

Schedule of stock-based compensation expense

YEAR ENDED

JANUARY 31,

FEBRUARY 1,

FEBRUARY 3, 

  ​ ​ ​

2026

2025

  ​ ​ ​

2024 

(in thousands)

Stock-based compensation expense(1)

$

38,263

$

40,516

$

36,509

(1)On October 18, 2020, our Board of Directors granted our Chairman and Chief Executive Officer, Gary Friedman, an option to purchase 700,000 shares of our common stock with an exercise price equal to $385.30 per share under the Stock Incentive Plan. The option resulted in aggregate non-cash stock compensation expense of $174 million, of which, $0.9 million, $4.5 million and $9.6 million was recognized in fiscal 2025, fiscal 2024 and fiscal 2023, respectively, related to Mr. Friedman’s option. Compensation expense for this award was fully recognized as of fiscal 2025.
Schedule of total unrecognized compensation expense and weighted average remaining term

UNRECOGNIZED

WEIGHTED-

STOCK BASED

AVERAGE

COMPENSATION

REMAINING TERM

(in thousands)

(in years)

Unvested options

$

119,524

4.4

Unvested restricted stock and restricted stock units

6,026

1.7

Total

$

125,550

Summary of Restricted Stock Award Activity

  ​ ​ ​

  ​ ​ ​

WEIGHTED-

  ​ ​ ​

AVERAGE

INTRINSIC

GRANT DATE FAIR

VALUE

AWARDS

VALUE

(in thousands)

Outstanding—February 1, 2025

 

11,220

$

433.56

 

  ​

Granted

 

24,690

183.38

 

  ​

Released

 

(14,110)

262.85

 

  ​

Cancelled

 

(1,200)

401.25

 

  ​

Outstanding—January 31, 2026

 

20,600

$

252.51

$

4,096

Summary of Additional Information about Restricted Stock Awards

YEAR ENDED

  ​ ​ ​

JANUARY 31,

  ​ ​ ​

FEBRUARY 1,

  ​ ​ ​

FEBRUARY 3, 

2026

2025

2024 

Weighted-average fair value per share of awards granted

$

183.38

$

301.31

$

322.24

Grant date fair value of awards released (in thousands)

 

3,709

 

6,630

 

2,846

Summary of stock-based compensation expense related to restricted stock awards

YEAR ENDED

JANUARY 31,

FEBRUARY 1,

FEBRUARY 3, 

  ​ ​ ​

2026

2025

  ​ ​ ​

2024 

(in thousands)

Stock-based compensation expense

$

5,619

$

3,669

$

2,874