Dollar Tree, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation Plans (Tables)

Stock-Based Compensation Plans (Tables)

12 Months Ended

Jan. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

Total stock-based compensation expense was recorded in the accompanying Consolidated Statements of Operations as follows:


	Year Ended
(in millions)	January 31, 2026		February 1, 2025		February 3, 2024
Cost of sales	$	13.5	$	13.9	$	11.9
Selling, general and administrative expenses	45.4		93.0		64.4
Income (loss) from discontinued operations, net of tax	8.2		18.0		20.4
Total stock-based compensation expense	$	67.1	$	124.9	$	96.7
Excess tax benefit (deficit) on stock-based compensation recognized in the provision for income taxes	$	(5.4)	$	(0.9)	$	3.9

Schedule of Restricted Stock Units Activity

The following table summarizes the status of RSUs as of January 31, 2026 and changes during the year then ended:


	Number of RSUs	Weighted Average Grant Date Fair Value
Nonvested at February 1, 2025	973,133	$	136.86
Granted	1,326,234	$	76.47
Vested	(520,194)	$	134.56
Forfeited	(580,546)	$	92.84
Nonvested at January 31, 2026	1,198,627	$	92.28

Schedule of Nonvested Performance-based Units Activity

The following table summarizes the status of PSUs as of January 31, 2026 and changes during the year then ended:


	Number of PSUs	Weighted Average Grant Date Fair Value
Nonvested at February 1, 2025	217,116	$	128.95
Granted	257,948	$	78.85
Vested	(68,207)	$	111.04
Forfeited	(98,541)	$	102.12
Nonvested at January 31, 2026	308,316	$	98.12

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The fair value of these awards incorporating the market condition was estimated on the grant date using a Monte Carlo simulation model with the following weighted average assumptions:


	Fiscal 2025		Fiscal 2024		Fiscal 2023
Expected term (in years)	2.8		2.8		2.8
Expected stock price volatility	42.1	%	34.7	%	34.5	%
Dividend yield	—	%	—	%	—	%
Risk-free interest rate	3.82	%	4.49	%	3.82	%

The weighted average assumptions used in the Black-Scholes option pricing model for the executive stock options granted in fiscal 2024 and fiscal 2023 are as follows:


	Fiscal 2024		Fiscal 2023
Expected term (in years)	6.0		6.0
Expected stock price volatility	37.1	%	36.3	%
Dividend yield	—	%	—	%
Risk-free interest rate	4.36	%	3.81	%

Schedule of Stock Option Activity

The following tables summarize information about options outstanding at January 31, 2026 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 February 1, 2025	1,800,025	$	154.49

Exercised	(7,652)	107.11
Forfeited	(19,819)	133.22
Outstanding at January 31, 2026	1,772,554	$	154.96	6.2	$	0.8
Exercisable at January 31, 2026	1,715,205	$	155.95	6.1	$	0.4