Preferred and Common Stock (Tables)

12 Months Ended

Apr. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Restricted Stock and Restricted Stock Unit Grants

The following table summarizes the most recent compensation grants made during the three-year period ended April 30, 2018:

Date of Grant	Type of Grant	Shares Granted	Recipients	Vesting Date	Fair Value at Grant Date
June 5, 2015	Restricted Stock Units	104,200	Officers & Key employees	June 5, 2018	$9,135
June 5, 2015	Restricted Stock	48,913	Officers & Key employees	Immediate (Annual performance goal)	$4,288
September 18, 2015	Restricted Stock	7,748	Non-employee board members	Immediate	$856
April 12, 2016	Restricted Stock Units	10,000	CEO	20% each May 1, 2017-2021	$1,060
June 3, 2016	Restricted Stock Units	111,150	Officers & Key employees	June 3, 2019	$13,849
June 3, 2016	Restricted Stock	40,996	Officers & Key employees	Immediate (Annual performance goal)	$5,108
September 16, 2016	Restricted Stock	8,941	Non-employee board members	Immediate	$1,064
June 1, 2017	Restricted Stock Units	63,699	Key Employees	June 1, 2020	$7,388
July 14, 2017	Restricted Stock Units***	61,126	Officers	June 15, 2020	$6,912
September 28, 2017	Restricted Stock	8,344	Non-employee board members	Immediate	$920
March 29, 2018	Restricted Stock	2,150	Non-employee board members	September 21, 2018	$236

*** This grant of restricted stock units includes time-based, performance-based and market-based awards.  The performance-based awards included in the figure above represent a “target” amount; the final amount earned is based on the satisfaction of certain performance measures over a three-year performance period and will range from 0% to 200% of the “target". The market-based awards incorporate market conditions in determining fair value as of the grant date, and will also range from 0% to 200% of the "target". Total market-based expense of approximately $2.6 million will be recognized on a straight-line basis over the vesting period, subject to acceleration for retirement provisions.

Schedule of Stock Options Activity

Information concerning the issuance of stock options under the Plan and Prior Plans is presented in the following table:

	Number of option shares		Weighted average option exercise price
Outstanding at April 30, 2015	401,800		$	36.55
Granted	—		—
Exercised	(108,100	)	34.37
Forfeited	(2,500	)	25.26
Outstanding at April 30, 2016	291,200		$	37.46
Granted	—		—
Exercised	(69,150	)	34.08
Forfeited	—		—
Outstanding at April 30, 2017	222,050		$	38.51
Granted	—		—
Exercised	(40,377	)	34.11
Forfeited	—		—
Outstanding at April 30, 2018	181,673		$	39.48

Schedule of Shares Outstanding and Weighted-Average Remaining Contractual Life by Exercise Range

The number of shares and weighted average remaining contractual life of the options by range of applicable exercise prices at April 30, 2018 were as follows:

Number of shares	Weighted average exercise price	Weighted average remaining contractual life (years)
1,500	25.49	1.0
45,100	25.26	1.2
135,073	44.39	3.2
181,673

Schedule of Restricted Stock Units Award Activity

Information concerning the issuance of restricted stock units under the Plan is presented in the following table:

Unvested at April 30, 2015	193,930
Granted	114,200
Vested	(31,480	)
Forfeited	(3,750	)
Unvested at April 30, 2016	272,900
Granted	111,150
Vested	(73,000	)
Forfeited	(7,650	)
Unvested at April 30, 2017	303,400
Granted	126,980
Vested	(88,700	)
Forfeited	(2,699	)
Unvested at April 30, 2018	338,981