Note 10 - Stock-based Compensation

3 Months Ended

Apr. 30, 2017

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

10.

  STOCK-BASED COMPENSATION

The Company

’s equity awards consist of RSUs and SARs. For a description of the Company’s stock-based compensation plans, see Note

5

“Stock-Based Compensation” in Notes to Consolidated Financial Statements included in the Annual Report on Form

10

-K for the year ended

January 31, 2017.

Stock-Based Compensation

The following table sets forth reported stock-based compensation expense for the

three

months ended

April 30, 2017:

	Three Months Ended April 30,
	201 7		201 6
	(in thousands)
Cost of subscription	$	25	$	22
Cost of maintenance and other revenue		77		67
Cost of professional services		220		173
Sales and marketing		317		277
Research and development		253		236
General and administrative		876		833
Total stock-based compensation expense	$	1,768	$	1,608

 

RSU Information

The estimated fair value of RSUs was calculated based on the closing price of the Company

’s common stock on the date of grant, reduced by the present value of dividends foregone during the vesting period.

The following table summarizes the activity for RSUs for the

three

months ended

April 30, 2017:

	RSUs			Weighted Average Grant Date Fair Value
	(in thousands)
Restricted stock at January 31, 201 7		623		$	20.56
Granted		24			27.04
Released (1)		(5	)		24.39
Forfeited		(4	)		19.79
Restricted stock at April 30, 2017		638		$	20.78

_________________________

( 1 ) The number of RSUs released includes shares withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements.

The Company withholds

a portion of the released shares as consideration for the Company’s payment of applicable employee income taxes. During the

three

months ended

April 30, 2017,

the Company withheld

2,000

shares for payment of these taxes at a value of

$61,000.

Total unrecognized compensation cost related to RSUs was approximately

$9.4

million as of

April 30, 2017.

This cost is expected to be recognized over a weighted-average period of approximately

2.5

years.

SAR Information

The following table summarizes the activity for outstanding SARs for the

three

months ended

April 30, 2017:

	SARs (in thousands)			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
Outstanding at January 31, 201 7		2,793		$	15.51
Granted		—			—
Exercised		(17	)		9.79
Expired		—			—
Forfeited		—			—
Outstanding at April 30, 2017		2,776		$	15.54		4.2	$	38,958
Vested and exercisable at April 30, 2017		1,786		$	12.96		3.1	$	29,730

The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the aggregate difference between the closing stock price of the Company

’s common stock based on the last trading day as of

April 30, 2017,

and the exercise price for in-the-money SARs) that would have been received by the holders if all SARs had been exercised on

April 30, 2017.

The total intrinsic value of SARs exercised in the

three

months ended

April 30, 2017

was

$0.3

million.

The number of SARs exercised includes shares withheld on behalf of employees to satisfy minimum statutory tax withholding requirements.

  During the

three

months ended

April 30, 2017,

the Company withheld

4,000

shares for payment of these taxes at a value of

$0.1

million.

At

April 30, 2017,

there was approximately

$4.3

million of total unrecognized compensation cost related to unvested SARs. This cost is expected to be recognized over a weighted-average period of approximately

2.3

years.