Stock Based Compensation |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Based Compensation | 10. Stock Based Compensation As of August 1, 2026, there were 5,159,514 shares of common stock available for issuance under the 2022 Omnibus Incentive Plan. Non-cash stock compensation expense is as follows:
(a) Included in the line item “Selling, general and administrative expenses” in the Company’s Condensed Consolidated Statements of Income. (b) The amounts presented in the table above exclude taxes. For the three and six month periods ended August 1, 2026, the tax benefit related to the Company’s non-cash stock compensation was approximately $5.7 million and $12.9 million, respectively. For the three and six month periods ended August 2, 2025, the tax benefit related to the Company’s non-cash stock compensation was approximately $5.9 million and $10.1 million, respectively. Stock Options Stock option transactions during the six month period ended August 1, 2026 are summarized as follows:
(a) Options exercised during the six month period ended August 1, 2026 had a total intrinsic value of $27.4 million. The following table summarizes information about the stock options vested and expected to vest during the contractual term of such options as of August 1, 2026:
Restricted Stock Units Restricted stock unit transactions during the six month period ended August 1, 2026 are summarized as follows:
(a) Restricted stock units vested during the six month period ended August 1, 2026 had a total intrinsic value of $81.3 million.
The fair value of each share of restricted stock granted during the six month period ended August 1, 2026 was based upon the closing price of the Company’s common stock on the grant date. Performance Stock Units The Company grants performance-based restricted stock units to its senior executives. Vesting of the performance stock units is based on continued service and the achievement of specified pre-established adjusted net income per share growth over a three-year performance period, as applicable for each grant. Based on the Company’s achievement of these goals, each award may be earned up to 200% of the target award. In the event that actual performance is below threshold, no award will be made. Compensation costs recognized on the performance stock units are adjusted, as applicable, for performance above or below the target specified in the award. Performance stock unit transactions during the six month period ended August 1, 2026 are summarized as follows:
(a) Performance-based stock awards vested during the six month period ended August 1, 2026 had a total intrinsic value of $62.3 million. |
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