v3.26.1
Stock Incentive Plans
3 Months Ended
May 02, 2026
Share-Based Payment Arrangement [Abstract]  
Stock Incentive Plans Stock Incentive Plans
On June 13, 2018, the Company’s board of directors adopted, and its stockholders approved, the BJ’s Wholesale Club Holdings, Inc. 2018 Incentive Award Plan (the “2018 Plan”). The 2018 Plan provides for, among other types of awards, the grant of restricted stock, restricted stock units, and performance shares.
The 2018 Plan authorizes the issuance of 13,148,058 shares and allows for most shares that are forfeited, expire, or are settled in cash to be reissued for new grants that may be awarded. For further details on the 2018 Plan, refer to “Note 11. Stock Incentive Plans” included in our Annual Report on Form 10-K for fiscal year 2025, as filed with the Securities and Exchange Commission on March 12, 2026.
As of May 2, 2026, there were 4,051,667 shares available for future issuance under the 2018 Plan.
The following table summarizes the Company’s stock award activity during the thirteen weeks ended May 2, 2026 (shares in thousands):
Stock OptionsRestricted StockRestricted Stock UnitsPerformance Stock Units
SharesWeighted-
Average
Exercise
Price
SharesWeighted-
Average
Grant
Date Fair
Value
SharesWeighted-
Average
Grant
Date Fair
Value
Shares(a)
Weighted-
Average
Grant
Date Fair
Value
Outstanding, January 31, 2026522 $20.52 93 $78.15 480 $95.76 507 $84.56 
Granted (b)
— — — — 294 94.61 242 94.61 
Forfeited/canceled (c)
— — (1)76.07 (11)95.41 (12)76.07 
Exercised/vested(5)25.07 (81)76.07 (174)91.29 (211)64.58 
Outstanding, May 2, 2026517 $20.47 11 $92.95 589 $96.51 526 $93.78 
(a) Shares outstanding reflect a 100% payout. However, the actual payout for the remaining performance stock unit awards granted in fiscal year 2021 is expected to be 200%, and the actual payout for performance stock unit awards granted in fiscal year 2023, which vested in the first quarter of fiscal year 2026, was 92%. Actual payout for the performance stock unit awards granted in each of fiscal years 2024, 2025, and 2026, which vest in fiscal years 2027, 2028, and 2029, respectively, could be below 100% or up to 300%.
(b) Includes 38 incremental performance stock units granted in fiscal year 2021 with a weighted-average grant date fair value of $44.04, that vested in fiscal year 2026 at greater than 100% of target payout based on performance.
(c) Includes 12 performance stock units granted in fiscal year 2023 with a weighted-average grant date fair value of $76.07, that vested in fiscal year 2026 at less than 100% of target payout based on performance.
Stock-based compensation expense was $13.3 million and $10.7 million for the thirteen weeks ended May 2, 2026 and May 3, 2025, respectively.
On June 14, 2018, the Company’s board of directors adopted, and its stockholders approved, the ESPP, which became effective July 1, 2018. The aggregate number of shares of common stock reserved for issuance under the ESPP is equal to the sum of (i) 973,014 shares and (ii) an annual increase on the first day of each calendar year beginning in 2019 and ending in 2028 equal to the lesser of (A) 486,507 shares, (B) 0.5% of the shares outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (C) such smaller number of shares as determined by the Company’s board of directors. The amount of expense recognized related to the ESPP was $0.6 million and $0.5 million for the thirteen weeks ended May 2, 2026 and May 3, 2025, respectively. As of May 2, 2026, there were 3,644,425 shares available for issuance under the ESPP.