v3.24.1.1.u2
Equity Incentive Plans (Tables)
 3 Months Ended
May 04, 2024
Equity Incentive Plans [Abstract]  
Stock Option Activity
A summary of the Company’s stock option activity and related information for the thirteen weeks ended May 4, 2024 follows:

                 Weighted  
           Weighted      average  
           average      remaining  
     Number      exercise      contractual  
 
of options
    
price
    
term (years)
  
     (in thousands, except share and per share amounts)
  
Outstanding at February 3, 2024
    
1,119,484
    
$
56.71
        
Granted
    
120,830
      
74.23
        
Forfeited
    
(1,803
)
    
77.84
        
Exercised
    
(66,390
)
    
38.39
        
Outstanding at May 4, 2024
    
1,172,121
      
59.52
      
6.8
  
Exercisable at May 4, 2024
    
740,952
      
58.45
      
5.7
  
Weighted Average Assumptions
The weighted average grant date fair value per option for options granted during the thirteen weeks ended May 4, 2024 and April 29, 2023 was $38.69 and $29.13, respectively. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table:

 
Thirteen weeks ended
  
   
May 4,
      April 29,  
   
2024
    
2023
  
Risk-free interest rate
    
4.28
%
    
3.36
%
Expected dividend yield
    
—
      
—
  
Expected life (years)
  
6.25 years
    
6.25 years
  
Expected volatility
    
47.63
%
    
47.18
%
RSU Activity
A summary of the Company’s RSU activity and related information for the thirteen weeks ended May 4, 2024 is as follows:

           Weighted  
           average  
     Number    
grant date
  
 
of shares
    
fair value
  
Non-vested balance at February 3, 2024
    
350,804
    
$
53.94
  
Granted
    
168,362
      
74.23
  
Forfeited
    
(3,087
)
    
54.16
  
Vested
    
(112,217
)
    
54.10
  
Non-vested balance at May 4, 2024
    
403,862
      
62.35