Stock-Based Compensation

3 Months Ended

Oct. 31, 2025

Share-Based Payment Arrangement [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments

STOCK-BASED COMPENSATION

The 2006 Plan permits the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other stock-based and cash-based awards. Our employees and outside directors are eligible to receive grants under the 2006 Plan. The total number of shares of stock subject to grants under the 2006 Plan may not exceed 3,439,000. As of October 31, 2025, there were 1,085,482 shares of Common Stock or Class B Stock available for future grants under this plan.

Restricted Stock

All of our non-vested restricted stock as of October 31, 2025 was issued under the 2006 Plan with vesting periods generally between one and five years. We determined the fair value of restricted shares as of the grant date. We recognize the related compensation expense over the period from the date of grant to the date the shares vest.

There were 51,700 and 40,800 restricted shares of Common Stock granted during the three months ended October 31, 2025, and 2024, respectively. There were no restricted shares of Class B Stock granted during the three months ended October 31, 2025, and 2024. Stock-based compensation expense was $1.1 million and $0.9 million for the three months ended October 31, 2025, and 2025, respectively.

A summary of restricted stock transactions is shown below:

	Restricted Shares (in thousands)	Weighted Average Grant Date Fair Value (per share)
Non-vested restricted stock outstanding at July 31, 2025	728	$	28.52
Granted	52	$	59.07
Vested	(168)	$	20.47
Forfeitures	(1)	$	31.90
Non-vested restricted stock outstanding at October 31, 2025	611	$	33.31