v3.26.1
Share-Based Payments (Tables)
6 Months Ended
Aug. 01, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity A summary of the Company’s stock option activity for the 26 weeks ended August 1, 2026 follows:

 

 

 

Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term

 

 

Aggregate Intrinsic Value

 

 

 

(In thousands)

 

 

 

 

 

(In years)

 

 

(In thousands)

 

Outstanding - January 31, 2026

 

 

4,543

 

 

$

16.34

 

 

 

 

 

 

 

Granted

 

 

934

 

 

$

16.52

 

 

 

 

 

 

 

Exercised

 

 

(45

)

 

$

13.17

 

 

 

 

 

 

 

Cancelled

 

 

(267

)

 

$

21.41

 

 

 

 

 

 

 

Outstanding - August 1, 2026

 

 

5,165

 

 

$

16.14

 

 

 

4.6

 

 

$

14,497

 

Vested and expected to vest - August 1, 2026

 

 

5,008

 

 

$

16.06

 

 

 

4.4

 

 

$

14,439

 

Exercisable - August 1, 2026 (1)

 

 

1,937

 

 

$

12.06

 

 

 

3.5

 

 

$

9,916

 

 

(1)
Options exercisable represent "in-the-money" vested options based upon the weighted-average exercise price of vested options compared to the Company’s stock price on August 1, 2026.
Black-Scholes Option Valuation Assumptions

The fair value of stock options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

 

 

26 Weeks Ended

 

 

 

August 1,

 

 

August 2,

 

Black-Scholes Option Valuation Assumptions

 

2026

 

 

2025

 

Risk-free interest rate (1)

 

 

4.0

%

 

 

3.9

%

Dividend yield

 

 

2.7

%

 

 

3.5

%

Volatility factor (2)

 

 

53.9

%

 

 

47.5

%

Weighted-average expected term (3)

 

4.5 years

 

 

4.5 years

 

 

(1)
Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.
(2)
Based on historical volatility of the Company’s common stock.
(3)
Represents the period of time options are expected to be outstanding. The weighted-average expected option terms were determined based on historical experience.
Summary of RSU and PSU Activity

A summary of the Company’s RSU and PSU activity is presented in the following table:

 

 

 

Time-Based Restricted
Stock Units

 

 

Performance-Based Restricted
Stock Units

 

 

 

August 1, 2026

 

 

August 1, 2026

 

(Shares in thousands)

 

Shares

 

 

Weighted-Average Grant Date Fair Value

 

 

Shares

 

 

Weighted-Average Grant Date Fair Value

 

Non-vested - February 1, 2025

 

 

2,994

 

 

$

15.12

 

 

 

2,444

 

 

$

16.02

 

Granted

 

 

1,531

 

 

$

16.49

 

 

 

1,167

 

 

$

16.38

 

Vested

 

 

(1,401

)

 

$

15.19

 

 

 

(1,211

)

 

$

14.74

 

Cancelled

 

 

(149

)

 

$

15.35

 

 

 

(13

)

 

$

19.34

 

Non-vested - August 1, 2026

 

 

2,975

 

 

$

15.78

 

 

 

2,387

 

 

$

16.83