v3.26.1
Share-Based Compensation
 3 Months Ended
May 02, 2026
Share-Based Compensation [Abstract]  
Share-Based Compensation
NOTE 6 – SHARE-BASED COMPENSATION:
As
of
May
2,
2026,
the
Company’s
2018
Incentive
Compensation
Plan
allows
for
the
granting
of
various
forms of equity-based awards,
including restricted stock
and stock options for
grant to officers, directors
and
key employees.
The
following
table
presents
the
number
of
options
and
shares
of
restricted
stock
initially
authorized
and
available for grant under this plan as
of May 2, 2026:
2018
Plan
Options and/or restricted stock initially authorized
4,725,000
Options and/or restricted stock available for grant
2,575,134
In
accordance
with
ASC
718
–
Compensation–Stock
Compensation
,
the
fair
value
of
current
restricted
stock awards
is estimated
on the
date of
grant based
on the
market price
of the
Company’s
stock and
is
amortized to compensation expense on a
straight-line basis over the related vesting periods.
As of May 2,
2026
and
January
31,
2026,
there
was
$
4,162,000
and
$
4,064,000
,
respectively,
of
total
unrecognized
compensation
expense
related
to
unvested
restricted
stock
awards,
which
had
a
remaining
weighted-
average vesting
period
of
2.0
years
and
1.4
years,
respectively.
The
total
compensation expense
during
the
three
months
ended
May
2,
2026
and
May
3,
2025
was
$
564,000
and
$
109,000
,
respectively.
This
compensation activity is
classified as a
component of Selling,
general and administrative
expenses in the
Condensed Consolidated Statements of Income.
The following summary
shows the changes
in the number
of shares of
unvested restricted stock
outstanding
during
the three months ended May
2, 2026:
Weighted Average
Number of
Grant Date Fair
Shares
Value
Per Share
Restricted stock awards at January 31, 2026
905,052
$
8.06
Granted
298,494
2.88
Vested
(268,303)
11.50
Forfeited or expired
(3,822)
7.54
Restricted stock awards at May 2, 2026
931,421
$
5.41
The
Company’s
Employee
Stock
Purchase
Plan
allows
eligible
full-time
employees
to
purchase
a
limited
number of
shares
of the
Company’s
Class
A
Common Stock
during each
semi-annual offering
period
at
a
15
% discount through payroll deductions. During the
three months ended May 2, 2026
and May 3, 2025, the
Company sold
31,503
and
21,736
shares to employees
at an
average discount of
$
0.43
and $
0.50
per share,
respectively, under
the Employee
Stock Purchase
Plan. The
compensation expense
recognized for
the
15
%
discount
given
under
the
Employee
Stock
Purchase
Plan
was
approximately
$
13,000
and
$
11,000
for
the
three
months
ended
May
2,
2026
and
May
3,
2025,
respectively.
These
expenses
are
classified
as
a
component
of
Selling,
general
and
administrative
expenses
in
the
Condensed
Consolidated
Statements
of
Income.