Share-Based Compensation

3 Months Ended

Oct. 31, 2015

Share-Based Compensation [Abstract]

Share-Based Compensation

11.  Share-Based Compensation

During the three months ended October 31, 2015, 18,750restricted stock units (“RSUs”) vested based on performance conditions that were satisfied during the period. Of the 2,378,750 RSUs outstanding, we currently expect 2,237,500 to vest. As of October 31, 2015, there was $972,000 of unrecognized non-cash compensation cost related to RSUs we expect to vest, which will be recognized over a weighted average period of 0.56 years. During the three months ended October 31, 2015, 812,500 RSUs were forfeited.

As of October 31, 2015, there was $67,000 of unrecognized non-cash compensation cost related to unvested stock options, which will be recognized over a weighted average period of 1.13 years. No options were granted during the three months ended October 31, 2015 and 2014.

For the three months ended October 31, 2015 and 2014, share-based compensation expense for outstanding RSUs and stock options was $672,000 and $503,000 respectively.