Stock-Based Compensation (Tables)

3 Months Ended

Apr. 30, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Weighted Average Assumptions Used for Calculation of Fair Value of Stock Options Granted

The table below presents the weighted average assumptions used with the Black-Scholes option-pricing model for the calculation of the fair value of stock options granted during the three months ended April 30, 2022 and April 30, 2021.

	Three Months Ended April 30, 2022			Three Months Ended April 30, 2021
Expected volatility		51.66	%		51.61	%
Expected life in years		6.0			6.0
Risk-free interest rates		2.57	%		0.89	%
Dividend rate		3.00	%		2.90	%
Weighted average fair value per option at date of grant	$	14.81		$	10.23

Schedule of Stock Options Activity

The following table summarizes the Company’s stock options activity during the first quarter of fiscal 2023:

	Outstanding  Options			Weighted Average Exercise Price per Option		Option Price Per Share		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value $(000)
Options outstanding at January 31,  2022 (242,959 options exercisable)		982,834		$	21.69	$12.42-$42.12			7.5	$	15,441
Granted		162,053		$	38.04	$	38.04
Exercised		(26,228	)	$	27.41	$23.35-$30.36
Cancelled		—
Options outstanding at April 30, 2022		1,118,659		$	23.93	$12.42-$42.12			7.7	$	14,207
Exercisable at April 30, 2022		216,731		$	31.55				3.2	$	1,355
Expected to vest at April 30, 2022		839,653		$	21.67				8.8	$	12,288

Summary of Stock Awards Activity

The following table summarizes the Company’s stock awards activity during the first quarter of fiscal 2023:

	Number of Stock Award Units			Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value $(000's)
Units outstanding at January 31, 2022		296,283		$	26.39
Units granted		112,767		$	38.04
Units vested		(111,584	)	$	31.84
Units forfeited		-		$	-
Units outstanding at April 30, 2022		297,466		$	28.76	2.5	$	10,700