Stock-Based Compensation

3 Months Ended

Apr. 30, 2018

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

Stock Based Compensation

Stock-Based Compensation

Stock Incentive Plan

Under the 2011 Plan, the Company may grant an aggregate of 2,000,000 shares to its employees and non-employee directors in the form of stock options or awards. Restricted stock or stock units awarded under the 2011 Plan are expensed ratably over the vesting period of the awards. The Company determines the fair value of its restricted stock unit awards and related compensation expense as the difference between the market value of the awards on the date of grant less the exercise price of the awards granted. During first quarter ended April 30, 2018, the Company granted

0 shares of restricted stock awards and 0 shares of restricted stock awards vested according to their terms. There were approximately 289,832 shares available for future issuance under the 2011 Plan as of April 30, 2018. As of April 30, 2018, there was $2,104,000 of unrecognized compensation expense related to unvested RSUs, which is expected to be recognized over a weighted average period of approximately 3 years. At April 30, 2018, stock-based compensation expense related to restricted stock awards recognized in cost of goods sold and selling, general and administrative expenses was $60,000 and $168,000, respectively. At April 30, 2017, stock-based compensation expense related to restricted stock awards recognized in cost of goods sold and selling, general and administrative expenses was $28,000 and $139,000, respectively.