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Stock-Based Compensation
3 Months Ended
Jul. 31, 2011
Stock-Based Compensation  
Stock-Based Compensation

NOTE E--STOCK-BASED COMPENSATION

 

The Company has various stock compensation plans.  During the quarter ended July 31, 2011, the Board of Directors of the Company approved grants of non-statutory stock options and service-based and performance-based restricted stock units to key employees.  The non-statutory stock option grants totaled 130,000 shares of the Company's common stock with an exercise price of $18.16 per share.  The options vest evenly over a three-year period and have a ten-year contractual term.  The service-based and performance-based restricted stock units totaled 179,000 units which entitle the recipients to receive up to one share of the Company's common stock per unit granted if applicable service and performance conditions are met.

 

Total compensation expense related to stock-based awards during the quarters ended July 31, 2011 and 2010 was $1.0 million and $0.8 million, respectively.  For the quarters ended July 31, 2011 and 2010, stock-based compensation expense was allocated as follows:

 

 

Quarter Ended

 

July 31

(in thousands)

2011

 

2010

Cost of sales and distribution

$160

 

$144

Selling and marketing expenses

202

 

177

General and administrative expenses

617

 

526

Stock-based compensation expense

$979

 

$847