Dollar Tree, Inc. Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation Plans (Tables)

12 Months Ended

Jan. 28, 2023

Total stock-based compensation expense was recorded in the accompanying consolidated income statements as follows:


	Year Ended
	January 28,		January 29,		January 30,
(in millions)	2023		2022		2021
Cost of sales	$	19.7	$	18.3	$	15.4
Selling, general and administrative expenses	90.7		61.6		68.5
Total stock-based compensation expense	$	110.4	$	79.9	$	83.9
Excess tax benefit (deficit) on stock-based compensation recognized in the Provision for income taxes	$	9.8	$	8.5	$	(2.8)

The following table summarizes the status of service-based RSUs as of January 28, 2023 and changes during the year then ended:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested at January 29, 2022	1,096,066	$	94.16
Granted	468,929	158.05
Vested	(546,036)	94.24
Forfeited	(150,239)	120.72
Nonvested at January 28, 2023	868,720	$	123.99

The following table summarizes the status of PSUs as of January 28, 2023 and changes during the year then ended:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested at January 29, 2022	584,972	$	91.86
Granted	206,044	159.57
Vested	(445,912)	99.87
Forfeited	(190,281)	116.61
Nonvested at January 28, 2023	154,823	$	125.84

The assumptions used in the Black-Scholes option pricing model for this award are as follows:


Expected term (in years)	6.5
Expected stock price volatility	34.1	%
Dividend yield	—	%
Risk-free interest rate	2.15	%

The following tables summarize information about options outstanding at January 28, 2023 and changes during the year then ended:


	Number of Shares	Weighted Average Per Share Exercise Price		Weighted Average Remaining Term (Years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 29, 2022	24,541	$	90.38
Granted	2,252,979	157.17
Exercised	(583)	76.95

Outstanding at January 28, 2023	2,276,937	$	156.46	9.1	$	1.4
Exercisable at January 28, 2023	24,350	$	90.92	3.8	$	1.4