Preferred and Common Stock (Tables)

12 Months Ended

Apr. 30, 2019

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

Schedule of Restricted Stock and Restricted Stock Unit Grants

The following table summarizes the equity-related grants made during the three-year period ended April 30, 2019:

Date of Grant	Type of Grant	Shares Granted	Recipients	Vesting Date	Fair Value at Grant Date
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
May 24, 2018	Restricted Stock Units	88,846	Key Employees	May 24, 2021	$8,593
June 8, 2018	Restricted Stock Units***	75,402	Officers	June 8, 2021	$7,571
September 5, 2018	Restricted Stock Units	7,984	Non-Employee Board Members	2019 Annual Shareholders' Meeting Date	$920

*** 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 for the 2017 grant and $2.8 million for the 2018 grant 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 Prior Plans is presented in the following table (no stock option awards have been granted under the 2018 Plan):

	Number of option shares		Weighted average option exercise price
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
Granted	—		—
Exercised	(71,546	)	32.02
Forfeited	(300	)	25.26
Outstanding at April 30, 2019	109,827		$	44.39

Schedule of Restricted Stock Units Award Activity

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

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
Granted	172,232
Vested	(104,166	)
Forfeited	(10,530	)
Unvested at April 30, 2019	388,800