Shareholders' Equity (Tables)
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12 Months Ended |
Jan. 29, 2022 |
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| Share-based Payment Arrangement, Noncash Expense [Abstract] |
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| Schedule of warrants outstanding [Table Text Block] |
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Warrants |
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Warrants |
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Exercise Price |
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Grant Date |
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Outstanding |
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Exercisable |
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(Per Share) |
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Expiration Date |
March 16, 2017 |
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5,000 |
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5,000 |
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$ |
19.20 |
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March 16, 2022 |
May 2, 2019 |
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349,998 |
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349,998 |
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$ |
15.00 |
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May 2, 2024 |
April 17, 2020 |
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367,197 |
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367,197 |
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$ |
2.66 |
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April 14, 2025 |
May 22, 2020 |
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122,398 |
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122,398 |
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$ |
2.66 |
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April 14, 2025 |
June 8, 2020 |
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122,399 |
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122,399 |
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$ |
2.66 |
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April 14, 2025 |
June 12, 2020 |
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122,398 |
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122,398 |
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$ |
2.66 |
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April 14, 2025 |
July 11, 2020 |
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244,798 |
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244,798 |
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$ |
2.66 |
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April 14, 2025 |
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| Schedule of stock options valuation assumptions [Table Text Block] |
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Fiscal 2021 |
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Fiscal 2020 |
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Fiscal 2019 |
Expected volatility: |
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82% - 89% |
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— |
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75% - 82% |
Expected term (in years): |
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6 years |
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— |
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6 years |
Risk-free interest rate: |
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1.0% - 1.3% |
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— |
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1.4% - 2.6% |
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| Schedule of stock option activity [Table Text Block] |
A summary of the status of the Company’s stock option activity as of January 29, 2022 and changes during the year then ended is as follows:
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2020 Plan |
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2011 Plan |
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2004 Plan |
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Option |
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Weighted Average |
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Option |
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Weighted Average |
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Option |
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Weighted Average |
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Shares |
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Exercise Price |
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Shares |
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Exercise Price |
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Shares |
|
Exercise Price |
Balance outstanding, January 30, 2021 |
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— |
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$ |
— |
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34,000 |
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$ |
12.87 |
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3,000 |
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$ |
53.49 |
Granted |
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158,000 |
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$ |
7.48 |
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— |
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$ |
— |
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— |
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$ |
— |
Exercised |
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— |
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$ |
— |
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— |
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$ |
— |
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— |
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$ |
— |
Forfeited or canceled |
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(10,500) |
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$ |
9.64 |
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(8,300) |
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$ |
22.59 |
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— |
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$ |
— |
Balance outstanding, January 29, 2022 |
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147,500 |
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$ |
7.33 |
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25,700 |
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$ |
10.04 |
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3,000 |
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$ |
53.49 |
Options exercisable at January 29, 2022 |
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10,000 |
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$ |
8.72 |
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22,800 |
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$ |
10.73 |
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3,000 |
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$ |
53.49 |
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| Schedule of stock options outstanding, vested and expected to vest [Table Text Block] |
The following table summarizes information regarding stock options outstanding at January 29, 2022:
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Options Outstanding |
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Options Vested or Expected to Vest |
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Weighted |
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Weighted |
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Weighted |
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Average |
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Weighted |
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Average |
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Average |
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Remaining |
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Aggregate |
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Average |
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Remaining |
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Aggregate |
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Number of |
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Exercise |
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Contractual |
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Intrinsic |
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Number of |
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Exercise |
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Contractual |
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Intrinsic |
Option Type |
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Shares |
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Price |
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Life (Years) |
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Value |
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Shares |
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Price |
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Life (Years) |
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Value |
2020 Plan |
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147,500 |
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$ |
7.33 |
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9.4 |
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$ |
— |
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129,700 |
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$ |
7.34 |
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9.4 |
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$ |
— |
2011 Plan |
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25,700 |
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$ |
10.04 |
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5.9 |
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$ |
2,500 |
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25,200 |
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$ |
10.16 |
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5.9 |
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$ |
2,400 |
2004 Plan |
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3,000 |
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$ |
53.49 |
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2.2 |
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$ |
— |
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3,000 |
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$ |
53.49 |
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2.2 |
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$ |
— |
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| Schedule of grant date fair value assumptions, market-based restricted stock performance units [Table Text Block] |
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Fiscal 2019 |
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Total grant date fair value |
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$482 |
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Total grant date fair value per share |
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$5.14 |
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Expected volatility |
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74% - 82% |
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Weighted average expected life (in years) |
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3 years |
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Risk-free interest rate |
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1.7% - 2.3% |
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| Restricted stock vesting criteria for market-based performance |
The percent of the target market-based performance vested restricted stock unit award that will be earned based on the Company’s TSR relative to the peer group is as follows:
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Percentage of |
Percentile Rank |
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Units Vested |
< 33% |
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0 |
% |
33% |
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50 |
% |
50% |
|
100 |
% |
100% |
|
150 |
% |
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| Valuation assumptions of May 2, 2019 market-based restricted stock unit [Table Text Block] |
Grant date fair values and derived service periods for each tranche were determined using a Monte Carlo valuation model based on assumptions, which included a weighted average risk-free interest rate of 2.5%, a weighted average expected life of 2.9 years and an implied volatility of 80% and were as follows for each tranche:
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Fair Value |
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Derived Service |
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(Per Share) |
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Period |
Tranche 1 (one year) |
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$ |
3.66 |
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1.00 Year |
Tranche 2 ($20.00/share) |
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$ |
3.19 |
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3.27 Years |
Tranche 3 ($40.00/share) |
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$ |
2.85 |
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4.53 Years |
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| Schedule of restricted stock unit activity [Table Text Block] |
A summary of the status of the Company’s non-vested restricted stock unit activity as of January 29, 2022 and changes during the twelve-month period then ended is as follows:
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Restricted Stock Units |
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Market-Based Units |
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Time-Based Units |
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Performance-Based Units |
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Total |
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Weighted |
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Weighted |
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Weighted |
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Weighted |
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Average |
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Average |
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Average |
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Average |
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Grant Date |
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Grant Date |
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Grant Date |
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Grant Date |
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Shares |
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Fair Value |
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Shares |
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Fair Value |
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Shares |
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Fair Value |
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Shares |
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Fair Value |
Non-vested outstanding, January 30, 2021 |
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60,000 |
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$ |
3.52 |
|
736,000 |
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$ |
4.03 |
|
146,000 |
|
$ |
1.69 |
|
942,000 |
|
$ |
3.64 |
Granted |
|
— |
|
$ |
— |
|
824,200 |
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$ |
9.33 |
|
76,900 |
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$ |
8.72 |
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901,100 |
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$ |
9.28 |
Vested |
|
— |
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$ |
— |
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(451,500) |
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$ |
5.82 |
|
— |
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$ |
— |
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(451,500) |
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$ |
5.82 |
Forfeited |
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(2,200) |
|
$ |
5.10 |
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(77,400) |
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$ |
4.28 |
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— |
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$ |
— |
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(79,600) |
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$ |
4.30 |
Non-vested outstanding, January 29, 2022 |
|
57,800 |
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$ |
3.47 |
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1,031,300 |
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$ |
7.46 |
|
222,900 |
|
$ |
4.13 |
|
1,312,000 |
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$ |
6.72 |
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