v3.26.1
Stock-Based Compensation
 6 Months Ended
Aug. 01, 2026
Stock-Based Compensation [Abstract]  
Stock-Based Compensation
NOTE 6 – STOCK-BASED COMPENSATION:
As of August
1, 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 August 1, 2026:
2018
Plan
Options and/or restricted stock initially authorized
4,725,000
Options and/or restricted stock available for grant
2,574,134
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
August
1, 2026
and January
31, 2026,
there was
$
3,644,000
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
1.8
years
and
1.4
years,
respectively.
The
total
compensation expense
during
the three and
six months ended
August 1, 2026
was $
395,000
and $
959,000
, respectively,
compared to a
total
compensation
expense
of
$
394,000
and
$
578,000
for
the
three
and
six
months
ended
August
2,
2025,
respectively.
This
compensation
activity
is
classified
as
a
component
of
Selling,
general
and
administrative expenses in the Condensed Consolidated Statements of Income.
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
(269,829)
11.45
Forfeited or expired
(11,584)
6.03
Restricted stock awards at August 1, 2026
922,133
$
5.42
NOTE 6 – STOCK BASED-COMPENSATION (CONTINUED):
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
six months ended August
1, 2026 and August
2, 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 six
months ended
August 1,
2026 and
August 2,
2025, respectively.
These expenses
are classified
as a
component
of
Selling,
general
and
administrative
expenses
in
the
Condensed
Consolidated
Statements
of
Income.