Stock-Based Compensation

6 Months Ended

Jan. 31, 2026

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 January 31, 2026, there were 1,080,263 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 January 31, 2026 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 62,500 and 82,550 restricted shares of Common Stock granted during the six months ended January 31, 2026, and 2025, respectively. There were no restricted shares of Class B Stock granted during the six months ended January 31, 2026, and 2025. Stock-based compensation expense was $1.0 million and $1.1 million for the three months ended January 31, 2026, and 2025, respectively, and was $2.1 million and $1.9 million for the six months ended January 31, 2026, 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	62	$	57.76
Vested	(200)	$	21.42
Forfeitures	(1)	$	36.26
Non-vested restricted stock outstanding at January 31, 2026	589	$	34.01