Stock-Based Compensation (Tables)

As of October 31, 2019, the following stock-based awards, by award type, were outstanding:

Stock-based compensation for awards issued is reflected in the following line items in our Condensed Consolidated Statements of Operations:



	Three months ended October 31,
	2019			2018
Cost of sales	$	59,000		58,000
Selling, general and administrative expenses	743,000			905,000
Research and development expenses	77,000			83,000
Stock-based compensation expense before income tax benefit	879,000			1,046,000
Estimated income tax benefit	(189,000		)	(228,000	)
Net stock-based compensation expense	$	690,000		818,000

Stock-based compensation expense (benefit), by award type, is summarized as follows:



	Three months ended October 31,
	2019			2018
Stock options	$	82,000		171,000
Performance shares	352,000			406,000
RSUs and restricted stock	698,000			547,000
ESPP	57,000			52,000
Share units	(310,000		)	(130,000	)
Stock-based compensation expense before income tax benefit	879,000			1,046,000
Estimated income tax benefit	(189,000		)	(228,000	)
Net stock-based compensation expense	$	690,000		818,000

The following table summarizes the Plan's activity during the three months ended October 31, 2019:



	Awards (in Shares)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at July 31, 2019	1,555,555		$	28.72
Exercised	(51,460	)	28.45
Expired/canceled	(800	)	27.35
Outstanding at October 31, 2019	1,503,295		$	28.73	3.27	$	9,346,000

Exercisable at October 31, 2019	1,431,765		$	28.83	3.14	$	8,761,000

Vested and expected to vest at October 31, 2019	1,477,967		$	28.76	3.23	$	9,148,000

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, 2019	954,676		$	22.40
Granted	219,425		27.69
Settled	(199,466	)	16.80
Forfeited	(41,080	)	21.00
Outstanding at October 31, 2019	933,555		$	24.91	$	32,628,000

Vested at October 31, 2019	328,791		$	24.92	$	11,491,000

Vested and expected to vest at October 31, 2019	890,374		$	25.06	$	31,119,000