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Stock-Based Compensation (Tables)
 9 Months Ended
Apr. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock-based Awards Outstanding by Award Type
As of April 30, 2020, the following stock-based awards, by award type, were outstanding:
 
April 30, 2020

Stock options
1,139,675

Performance shares
215,234

RSUs and restricted stock
448,311

Share units
239,680

Total
2,042,900
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,
 
 
2020
 
2019
 
2020
 
2019
Cost of sales
 
$
45,000

 
52,000

 
$
164,000

 
170,000

Selling, general and administrative expenses
 
878,000

 
1,004,000

 
2,715,000

 
2,960,000

Research and development expenses
 
58,000

 
63,000

 
219,000

 
226,000

Stock-based compensation expense before income tax benefit
 
981,000

 
1,119,000

 
3,098,000

 
3,356,000

Estimated income tax benefit
 
(204,000
)
 
(244,000
)
 
(664,000
)
 
(732,000
)
Net stock-based compensation expense
 
$
777,000

 
875,000

 
$
2,434,000

 
2,624,000
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,
 
 
2020
 
2019
 
2020
 
2019
Stock options
 
$
39,000

 
174,000

 
$
203,000

 
526,000

Performance shares
 
412,000

 
374,000

 
1,185,000

 
1,166,000

RSUs and restricted stock
 
477,000

 
515,000

 
1,850,000

 
1,630,000

ESPP
 
53,000

 
56,000

 
170,000

 
164,000

Share units
 
—

 
—

 
(310,000
)
 
(130,000
)
Stock-based compensation expense before income tax benefit
 
981,000

 
1,119,000

 
3,098,000

 
3,356,000

Estimated income tax benefit
 
(204,000
)
 
(244,000
)
 
(664,000
)
 
(732,000
)
Net stock-based compensation expense
 
$
777,000

 
875,000

 
$
2,434,000

 
2,624,000
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, 2020:
 
 
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

 
 
 
 
Expired/canceled
 
(100
)
 
28.35

 
 
 
 
Exercised
 
(233,330
)
 
28.90

 
 
 
 
Outstanding at January 31, 2020
 
1,269,865

 
28.70

 
 
 
 
Exercised
 
(1,000
)
 
28.84

 
 
 
 
Expired/canceled
 
(129,190
)
 
29.18

 
 
 
 
Outstanding at April 30, 2020
 
1,139,675

 
$
28.65

 
3.08
 
$
—

 
 
 
 
 
 
 
 
 
Exercisable at April 30, 2020
 
1,079,985

 
$
28.74

 
2.96
 
$
—

 
 
 
 
 
 
 
 
 
Vested and expected to vest at April 30, 2020
 
1,116,541

 
$
28.68

 
3.04
 
$
—
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, 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

 
 
Settled
 
(527
)
 
11.40

 
 
Forfeited
 
(1,836
)
 
23.95

 
 
Outstanding at January 31, 2020
 
931,192

 
24.92

 
 
Granted
 
5,064

 
21.64

 
 
Settled
 
(3,884
)
 
23.26

 
 
Forfeited
 
(29,147
)
 
23.40

 
 
Outstanding at April 30, 2020
 
903,225

 
$
24.96

 
$
16,719,000

 
 
 
 
 
 
 
Vested at April 30, 2020
 
326,186

 
$
24.93

 
$
6,038,000

 
 
 
 
 
 
 
Vested and expected to vest at April 30, 2020
 
860,595

 
$
25.12

 
$
15,930,000