Company: SPWH
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0000950170-25-048890
Chunk: 549

Company: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 5
Chunk 549
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 are not achieved, no shares will vest. The maximum number of shares subject to the award is 72, and the “target” number of shares subject to the award is 36 as reported below. Following the end of the performance period (fiscal years 2023, 2024, and 2025), the number of shares eligible to vest, based on actual performance, will be fixed and vesting will then be subject to each employee's continued employment over the remaining service period.The following table sets forth the rollforward of outstanding nonvested performance-based stock awards (per share amounts are not in thousands): 

        Weighted

        average

        grant-date

        Shares

        fair value

        Balance at February 3, 2024

        30

        $
        9.03

        Grants

        874

        3.09

        Forfeitures

        (892
        )

        3.22

        Vested

        -

        -

        Balance at February 1, 2025

        12

        $
        8.40

        Weighted

        average

        grant-date

        Shares

        fair value

        Balance at January 28, 2023

        313

        $
        7.72

        Grants

        36

        8.40

        Forfeitures

        (98
        )

        10.94

        Vested

        (221
        )

        6.20

        Balance at February 3, 2024

        30

        $
        9.03

       Nonvested Stock Unit AwardsDuring the fiscal year 2024, the Company issued 1,354 nonvested stock units to employees of the Company and independent members of the Board of Directors at a weighted average grant date fair value of $3.12 per share. The shares issued to the independent members of the Board of Directors vest over 12 months with one twelfth vesting each month from the grant date. The shares issued to employees of the Company vest over a three-year period with one third of the shares vesting on each grant date anniversary.   

81

During the fiscal year 2023, the Company issued 1,219 nonvested stock units to employees of the Company and independent members of the Board of Directors at a weighted average grant date fair value of $6.34 per share. The shares issued to the independent