Stock-Based Compensation

9 Months Ended

Jan. 31, 2025

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The Company has various stock-based compensation plans. During the nine-months ended January 31, 2025, the Board of Directors approved grants of service-based restricted stock units ("RSUs") to non-employee directors. These service-based RSUs (i) vest daily through the end of the one-year vesting period as long as the recipient continuously remains a member of the Board and (ii) entitle the recipient to receive one share of the Company's common stock per unit vested. The Board of

Directors also approved grants of service-based RSUs and performance-based RSUs to key employees. The performance-based RSUs entitle the recipients to receive one share of the Company's common stock per unit granted if applicable performance conditions are met and the recipient remains continuously employed with the Company until the units cliff vest at the end of the three year vesting period. The service-based RSUs granted to key employees entitle the recipients to receive one share of the Company's common stock per unit granted if they remain continuously employed with the Company until the units vest. Service-based RSUs granted to employees vest one-third on each of the first, second and third anniversaries of the grant date. The fair value of the Company's RSU awards is expensed on a straight-line basis over the vesting period of the RSUs to the extent the Company believes it is probable the related performance criteria, if any, will be met.

The following table summarizes the Company's stock-based compensations grants for the nine-months ended January 31, 2025:

(in thousands, except per share amounts)	Stock Awards Granted
Service-based RSUs	60,159
Performance-based RSUs	98,391

For the three- and nine-month periods ended January 31, 2025 and 2024, stock-based compensation expense was allocated as follows: 

	Three Months Ended				Nine Months Ended
	January 31,				January 31,
(in thousands)	2025		2024		2025		2024
Cost of sales and distribution	$	565	$	582	$	1,701	$	1,633
Selling and marketing expenses	(50)		585		1,011		1,669
General and administrative expenses	1,626		1,617		5,234		3,884
Stock-based compensation expense	$	2,141	$	2,784	$	7,946	$	7,186