Stock-based compensation expense charged to income for the plans was $28.9 million and $23.0 million for the first quarter of 2026 and 2025, respectively. Total unrecognized compensation cost for all stock-based compensation plans was $216.5 million as of May 3, 2026, which is expected to be recognized over a weighted-average period of 2.7 years.

A summary of the balances of the Company's stock-based compensation plans as of May 3, 2026, and changes during the first quarter of 2026, is presented below:


	Stock Options			Performance-Based Restricted Stock Units			Restricted Shares			Restricted Stock Units
	Number	Weighted-Average Exercise Price		Number	Weighted-Average Grant Date Fair Value		Number	Weighted-Average Grant Date Fair Value		Number	Weighted-Average Grant Date Fair Value
	(In thousands, except per share amounts)
Balance as of February 1, 2026	1,269	$	287.41	220	$	319.19	6	$	252.28	561	$	257.92
Granted	398	165.57		173	185.84		—	—		313	165.55
Exercised/released	—	—		71	358.82		—	—		108	331.60
Forfeited/expired	104	224.27		29	283.27		—	—		15	238.82
Balance as of May 3, 2026	1,563	$	260.59	293	$	234.60	6	$	252.28	751	$	209.18
Exercisable as of May 3, 2026	563	$	322.62

The Company's performance-based restricted stock units ("PSUs") awarded to eligible employees during the first quarter of 2026 entitle the grantee to receive a maximum of 2.5 shares of common stock per PSU if the Company achieves specified performance goals and the grantee remains employed during the vesting period. These PSU awards also include a market condition based on total shareholder return ("TSR"), which limits the conversion ratio to one share of common stock per PSU if TSR over the performance period is negative. The fair value of these PSUs was determined using a Monte Carlo simulation model. Expense for PSUs is recognized when it is probable that the performance goal will be achieved.


	First Quarter 2026
	Stock Options		Performance-Based Restricted Stock Units
Expected term	4.25 years		2.85 years
Expected volatility	43.69	%	42.40	%
Risk-free interest rate	3.79	%	3.79	%
Dividend yield	—	%	—	%

The grant date fair value of the restricted shares and restricted stock units is based on the closing price of the Company's common stock on the grant date.

The Company has an Employee Share Purchase Plan ("ESPP"). Contributions are made by eligible employees, subject to certain limits defined in the ESPP, and the Company matches one-third of the contribution. The maximum number of shares authorized to be purchased under the ESPP is 6.0 million shares. All shares purchased under the ESPP are purchased in the open market. During the first quarter of 2026, there were 64.1 thousand shares purchased. As of May 3, 2026, 4.0 million shares remain authorized to be purchased under the ESPP.

The Company offers defined contribution pension plans to eligible employees who may elect to defer and contribute a portion of their eligible compensation to a plan up to limits stated in the plan documents, not to exceed the dollar amounts set by applicable laws. The Company matches 50% to 75% of the contribution depending on the participant's length of service, and the Company's contribution is subject to a two-year vesting period. The Company's net expense for the defined contribution plans was $6.8 million and $6.2 million in the first quarter of 2026 and 2025, respectively.