iMedia Brands, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)

12 Months Ended

Jan. 30, 2016

Feb. 02, 2013

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]



	Fiscal 2015	Fiscal 2014	Fiscal 2013
Expected volatility	75% - 82%	88% - 98%	98% - 100%
Expected term (in years)	6 years	5 - 6 years	5 - 6 years
Risk-free interest rate	1.7% - 1.9%	1.5% - 2.2%	1.1% - 2.1%

2012 Market Grant [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 0.38%, a weighted average expected life of 3.3 years and an implied volatility of 78% and were as follows for each tranche:



	Fair Value (Per Share)	Derived Service Period
Tranche 1 ($6.00/share)	$0.93	15	months
Tranche 2 ($8.00/share)	$0.95	20	months
Tranche 3 ($10.00/share)	$0.95	24	months

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the status of the Company’s stock option activity as of January 30, 2016 and changes during the year then ended is as follows:



	2011 Incentive Stock Option Plan		Weighted Average Exercise Price		2004 Incentive Stock Option Plan		Weighted Average Exercise Price		2001 Incentive Stock Option Plan		Weighted Average Exercise Price		Other Non- Qualified Stock Options		Weighted Average Exercise Price
Balance outstanding, January 31, 2015	2,463,000		$	4.09	1,206,000		$	6.71	826,000		$	6.89	450,000		$	4.51
Granted	315,000		$	5.56	—		$	—	—		$	—	—		$	—
Exercised	(78,000	)	$	4.30	(30,000	)	$	2.70	(130,000	)	$	3.18	(372,000	)	$	4.57
Forfeited or canceled	(1,145,000	)	$	4.33	(506,000	)	$	7.55	(297,000	)	$	7.32	(78,000	)	$	4.23
Balance outstanding, January 30, 2016	1,555,000		$	4.30	670,000		$	6.18	399,000		$	7.78	—		$	—
Options Exercisable at:
January 30, 2016	995,000		$	3.97	652,000		$	6.22	399,000		$	7.78	—		$	—
January 31, 2015	1,322,000		$	4.05	1,179,000		$	6.76	826,000		$	6.89	380,000		$	4.60
February 1, 2014	1,229,000		$	3.78	2,037,000		$	6.21	1,121,000		$	6.05	397,000		$	4.11

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]

The following table summarizes information regarding stock options outstanding at January 30, 2016:



	Options Outstanding						Options Vested or Expected to Vest
Option Type	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value		Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
2011 Incentive:	1,555,000	$	4.30	7.5	$	—	1,514,000	$	4.27	7.5	$	—
2004 Incentive:	670,000	$	6.18	3.2	$	—	668,000	$	6.18	3.2	$	—
2001 Incentive:	399,000	$	7.78	2.2	$	—	399,000	$	7.78	2.2	$	—
Non-Qualified:	—	$	—	—	$	—	—	$	—	—	$	—

Schedule of Restricted Stock Fair Value [Table Text Block]

On November 17, 2014, the Company granted 199,790 shares of market-based restricted stock units to its chief executive officer and 79,916 shares of market-based restricted stock units to its chief strategy officer in conjunction with the hiring of these positions. As of January 30, 2016, these market-based restricted stock awards were outstanding. The total grant date fair value was estimated to be $1,373,000, or $4.91 per share, and is being amortized over the three-year performance period. Grant date fair values were determined using a Monte Carlo valuation model based on assumptions, which included a weighted average risk-free interest rate of 1.03%, a weighted average expected life of 3 years and an implied volatility of 60%. Each restricted stock award will vest if at any time during the three-year performance period the closing price of the Company's stock equals or exceeds, for ten consecutive trading days, the following cumulative total shareholder return ("TSR") thresholds:



Cumulative TSR Thresholds	Percentage of Units Vested
Below 25%	0%
25% to 32%	25%
33% to 39%	50%
40% to 49%	75%
50% or Above	100%

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 0.32%, a weighted average expected life of 2.8 years and an implied volatility of 78% and were as follows for each tranche:



	Fair Value (Per Share)	Derived Service Period
Tranche 1 ($6.00/share)	$1.48	15	months
Tranche 2 ($8.00/share)	$1.39	20	months
Tranche 3 ($10.00/share)	$1.31	24	months

Schedule of Non-vested Restricted Stock Activity [Table Text Block]

A summary of the status of the Company’s non-vested restricted stock activity as of January 30, 2016 and changes during the twelve-month period then ended is as follows:



	Shares		Weighted Average Grant Date Fair Value
Non-vested outstanding, January 31, 2015	704,000		$4.54
Granted	453,000		$4.50
Vested	(138,000	)	$5.34
Forfeited	(158,000	)	$4.20
Non-vested outstanding, January 30, 2016	861,000		$4.46