XML 48 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation (Tables)
 9 Months Ended
Apr. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock-based Awards Outstanding by Award Type
As of April 30, 2018, the following stock-based awards, by award type, were outstanding:
Stock options
1,734,775

Performance shares
278,860

RSUs and restricted stock
421,886

Share units
267,606

Total
2,703,127
Stock-based compensation for awards detailing where recorded in Condensed Consolidated Statement of Operations
Stock-based compensation for awards issued is reflected in the following line items in our Condensed Consolidated Statements of Operations:
 
 
Three months ended April 30,
 
Nine months ended April 30,
 
 
2018
 
2017
 
2018
 
2017
Cost of sales
 
$
55,000

 
56,000

 
146,000

 
162,000

Selling, general and administrative expenses
 
976,000

 
862,000

 
2,584,000

 
2,591,000

Research and development expenses
 
73,000

 
73,000

 
201,000

 
227,000

Stock-based compensation expense before income tax benefit
 
1,104,000

 
991,000

 
2,931,000

 
2,980,000

Estimated income tax benefit
 
(240,000
)
 
(349,000
)
 
(734,000
)
 
(1,051,000
)
Net stock-based compensation expense
 
$
864,000

 
642,000

 
2,197,000

 
1,929,000
Summary of net stock-based compensation expense by award type
Stock-based compensation expense (benefit), by award type, is summarized as follows:
 
 
Three months ended April 30,
 
Nine months ended April 30,
 
 
2018
 
2017
 
2018
 
2017
Stock options
 
$
309,000

 
368,000

 
845,000

 
1,000,000

Performance shares
 
363,000

 
361,000

 
846,000

 
1,227,000

RSUs and restricted stock
 
376,000

 
221,000

 
1,150,000

 
633,000

ESPP
 
56,000

 
41,000

 
152,000

 
120,000

Share units
 
—

 
—

 
(62,000
)
 
—

Stock-based compensation expense before income tax benefit
 
1,104,000

 
991,000

 
2,931,000

 
2,980,000

Estimated income tax benefit
 
(240,000
)
 
(349,000
)
 
(734,000
)
 
(1,051,000
)
Net stock-based compensation expense
 
$
864,000

 
642,000

 
2,197,000

 
1,929,000
Summary of the Plan's activity relating to stock options
The following table summarizes the Plan's activity during the nine months ended April 30, 2018:
 
 
Awards
(in Shares)
 
Weighted Average
Exercise Price
 
Weighted Average
Remaining Contractual
Term (Years)
 
Aggregate
Intrinsic Value
Outstanding at July 31, 2017
 
1,855,875

 
$
28.60

 
 
 
 
Expired/canceled
 
(41,040
)
 
28.97

 
 
 
 
Outstanding at October 31, 2017
 
1,814,835

 
28.59

 
 
 
 
Expired/canceled
 
(9,350
)
 
29.02

 
 
 
 
Outstanding at January 31, 2018
 
1,805,485

 
28.59

 
 
 
 
Expired/canceled
 
(2,400
)
 
28.11

 
 
 
 
Exercised
 
(68,310
)
 
27.40

 
 
 
 
Outstanding at April 30, 2018
 
1,734,775

 
$
28.64

 
4.80
 
$
4,095,000

 
 
 
 
 
 
 
 
 
Exercisable at April 30, 2018
 
1,303,808

 
$
28.64

 
4.29
 
$
2,973,000

 
 
 
 
 
 
 
 
 
Vested and expected to vest at April 30, 2018
 
1,693,769

 
$
28.61

 
4.76
 
$
4,014,000
Summary of the Plan's activity relating to performance shares, RSUs, restricted stock and share units
The following table summarizes the Plan's activity relating to performance shares, RSUs, restricted stock and share units:
 
 
Awards
(in Shares)
 
Weighted Average
Grant Date
Fair Value
 
Aggregate
Intrinsic Value
Outstanding at July 31, 2017
 
830,197

 
$
16.95

 
 
Granted
 
307,194

 
18.25

 
 
Settled
 
(100,321
)
 
20.67

 
 
Forfeited
 
(61,520
)
 
18.88

 
 
Outstanding at October 31, 2017
 
975,550

 
16.86

 
 
Settled
 
(526
)
 
11.40

 
 
Forfeited
 
(4,311
)
 
15.26

 
 
Outstanding at January 31, 2018
 
970,713

 
16.86

 
 
Granted
 
3,212

 
28.37

 
 
Settled
 
(687
)
 
11.04

 
 
Forfeited
 
(4,886
)
 
15.36

 
 
Outstanding at April 30, 2018
 
968,352

 
$
16.91

 
$
29,622,000

 
 
 
 
 
 
 
Vested at April 30, 2018
 
309,853

 
$
17.55

 
$
9,478,000

 
 
 
 
 
 
 
Vested and expected to vest at April 30, 2018
 
933,270

 
$
16.94

 
$
28,549,000