Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.20.2
Stock-Based Compensation
 6 Months Ended
Aug. 01, 2020
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
For a discussion of our stock-based compensation plans, refer to “Note 11 - Stock-Based Compensation Plans” of our Annual Report on Form 10-K for the year ended February 1, 2020. Stock-based compensation expense was $55.7 million and $44.1 million during the 26 weeks ended August 1, 2020 and August 3, 2019, respectively.
Restricted Stock
We issue service-based RSUs to employees and officers and issue PSUs to certain officers. We recognize expense based on the estimated fair value of the RSUs or PSUs granted over the requisite service period, which is generally three years, on a straight-line basis
or a shorter period based on the retirement eligibility of the grantee. The fair value of RSUs and PSUs is determined using our closing stock price on the date of grant.
Service-Based RSUs
The following table summarizes the status of service-based RSUs as of August 1, 2020 and changes during the 26 weeks then ended:
 
 
Number of Shares
 
Weighted Average
Grant Date
Fair Value
Nonvested at February 1, 2020
 
1,049,081

 
$
95.17

Granted
 
844,654

 
73.06

Vested
 
(519,205
)
 
91.18

Forfeited
 
(54,915
)
 
84.21

Nonvested at August 1, 2020
 
1,319,615

 
$
83.04


PSUs
The following table summarizes the status of PSUs as of August 1, 2020 and changes during the 26 weeks then ended:
 
 
Number of Shares
 
Weighted Average
Grant Date
Fair Value
Nonvested at February 1, 2020
 
320,500

 
$
99.29

Granted
 
400,932

 
73.08

Vested
 
(72,606
)
 
97.70

Forfeited
 
(68,826
)
 
93.42

Nonvested at August 1, 2020
 
580,000

 
$
81.95