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Stock-Based Compensation (Tables)
6 Months Ended
Jan. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of stock-based awards outstanding by award type
As of January 31, 2021, the following stock-based awards, by award type, were outstanding:
 January 31, 2021
Stock options1,331,835 
Performance shares252,349 
RSUs and restricted stock594,019 
Share units287,522 
Total2,465,725 
Stock-based compensation for awards detailing where recorded in 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 January 31,Six months ended January 31,
 2021202020212020
Cost of sales$59,000 60,000 $132,000 119,000 
Selling, general and administrative expenses1,158,000 1,094,000 1,700,000 1,837,000 
Research and development expenses70,000 84,000 154,000 161,000 
Stock-based compensation expense before income tax benefit
1,287,000 1,238,000 1,986,000 2,117,000 
Estimated income tax benefit(280,000)(271,000)(424,000)(460,000)
Net stock-based compensation expense$1,007,000 967,000 $1,562,000 1,657,000 
Summary of stock-based compensation expense by award type Stock-based compensation expense (benefit), by award type, is summarized as follows:
Three months ended January 31,Six months ended January 31,
2021202020212020
Stock options$97,000 82,000 $217,000 164,000 
Performance shares443,000 421,000 665,000 773,000 
RSUs and restricted stock699,000 675,000 1,621,000 1,373,000 
ESPP48,000 60,000 99,000 117,000 
Share units— — (616,000)(310,000)
Stock-based compensation expense before income tax benefit
1,287,000 1,238,000 1,986,000 2,117,000 
Estimated income tax benefit(280,000)(271,000)(424,000)(460,000)
Net stock-based compensation expense$1,007,000 967,000 $1,562,000 1,657,000 
Summary of the Plan's activity relating to stock options
The following table summarizes the Plan's activity:
 Awards
(in Shares)
Weighted Average
Exercise Price
Weighted Average
Remaining Contractual
Term (Years)
Aggregate
Intrinsic Value
Outstanding at July 31, 20201,422,025 $26.17   
Expired/canceled(77,390)29.90   
Outstanding at October 31, 20201,344,635 25.95   
Expired/canceled(12,800)25.86   
Outstanding at January 31, 20211,331,835 $25.96 4.18$1,121,000 
Exercisable at January 31, 20211,003,835 $28.58 2.51$1,000 
Vested and expected to vest at January 31, 20211,319,141 $26.03 4.13$1,078,000 
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, 2020 999,574 $21.15 
Granted 383,337 16.67 
Settled (176,051)20.47 
Canceled/Forfeited (65,215)16.16 
Outstanding at October 31, 2020 1,141,645 20.03 
Settled (526)11.40 
Canceled/Forfeited (7,229)20.15 
Outstanding at January 31, 2021 1,133,890 $20.04 $24,197,000 
  
Vested at January 31, 2021 396,254 $16.61 $8,456,000 
  
Vested and expected to vest at January 31, 2021 1,085,777 $19.98 $23,170,000