Stock-Based Compensation

9 Months Ended

Oct. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Incentive Plan

Under the Company's 2019 Omnibus Equity Incentive Plan (the “2019 Plan”), the Company may grant an aggregate of up to 1,000,000 shares to its employees and non-employee directors in the form of restricted stock units, restricted stock awards and stock options. Restricted stock units and awards granted under the 2019 Plan are expensed ratably over the vesting period of the units and awards. The Company determines the fair value of its restricted stock units or awards and related compensation expense as the difference between the market value of the units or awards on the date of grant less the exercise price of the units or awards granted. During the nine-month period ended October 31, 2024, the Company granted 16,066 awards, vested

164,110 shares according to their terms and forfeited 0 shares under the 2019 Plan. As of October 31, 2024, there were approximately 521,859 shares available for future issuance under the 2019 Plan.

The following table summarizes the stock-based compensation expense related to restricted stock units and awards recognized in the Company's statements of operations for the three and nine months ended October 31, 2024 and 2023:


	Three Months Ended				Nine Months Ended
	10/31/2024		10/31/2023		10/31/2024		10/31/2023
	(In thousands)

Cost of goods sold	$	—	$	28	$	38	$	84
Selling, general and administrative expenses	63		143		295		339
Total stock-based compensation expense	$	63	$	171	$	333	$	423

As of October 31, 2024, there was $146,000 of unrecognized compensation expense related to unvested restricted stock units and/or awards, which is expected to be recognized over a weighted average period of approximately one year.