Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.20.2
Stock-Based Compensation
 9 Months Ended
Oct. 31, 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 $70.5 million and $52.5 million during the 39 weeks ended October 31, 2020 and November 2, 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 October 31, 2020 and changes during the 39 weeks then ended:
 
 
Number of Shares
 
Weighted Average
Grant Date
Fair Value
Nonvested at February 1, 2020
 
1,049,081

 
$
95.17

Granted
 
845,394

 
73.08

Vested
 
(528,710
)
 
91.06

Forfeited
 
(80,457
)
 
83.36

Nonvested at October 31, 2020
 
1,285,308

 
$
83.07


PSUs
The following table summarizes the status of PSUs as of October 31, 2020 and changes during the 39 weeks then ended:
 
 
Number of Shares
 
Weighted Average
Grant Date
Fair Value
Nonvested at February 1, 2020
 
320,500

 
$
99.29

Granted
 
428,377

 
74.46

Vested
 
(221,876
)
 
88.12

Forfeited
 
(89,390
)
 
89.44

Nonvested at October 31, 2020
 
437,611

 
$
82.66