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Table of Contents
The following summarizes share-based compensation expense:




Stock options $ 3,399
$ 7,556
$ 8,883
Restricted stock units and restricted stock 15,039
11,770
12,291
Total share-based compensation $ 18,438
$ 19,326
$ 21,174
The stock compensation related income tax benefit recognized by the Company in 2015, 2014, and 2013 was $4.7 million, $3.9 million, and $3.5 million,
respectively.
Stock Options
During 2015, the Company granted stock options under the 2010 Plan. The fair value of the stock options is determined using the Black-Scholes-Merton
option-pricing model as described later in this note. Stock options granted in 2015 under the 2010 Plan vest 25% per year over four years or upon reaching
retirement eligibility, defined as providing 10 years of service and being at least 55 years old. These options have a ten year contractual life. The expense for
stock options is recognized using the straight-line attribution method.
The Company's activity with respect to stock options during 2015 was as follows:











Outstanding, January 31, 2015 3,470
$ 18.45
Granted 249
$ 16.37
Exercised (74)
$ 17.16
Forfeited or expired (199)
$ 18.86
Outstanding, January 30, 2016 3,446
$ 18.31
5.9
$ 893
Expected to vest at January 30, 2016 764
$ 17.19
8.0
$ 488
Exercisable at January 30, 2016 2,663
$ 18.64
5.3
$ 392
The following provides additional information regarding the Company's stock options:




Weighted average grant date fair value of options granted $ 7.79
$ 8.49
$ 9.50
Total intrinsic value of options exercised $ 176
$ —
$ 1,001
As of January 30, 2016, there was approximately $3.0 million of total unrecognized compensation expense related to stock options, which is expected to be
recognized over a weighted-average period of approximately 1.4 years.
The Company uses the Black-Scholes-Merton option-pricing model to value stock options granted to employees and directors. The Company's
determination of the fair value of stock options is affected by the Company's stock price as well as a number of subjective and complex assumptions. These
assumptions include the risk-free interest rate, the Company's expected stock price volatility over the term of the awards, expected term of the award, and
dividend yield.
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