—Stock Incentive Compensation

Stock Incentive Compensation requires us to expense share-based payment awards granted. Compensation cost for share-based payment transactions are measured at fair value. For stock options, we use the simplified method of calculating the expected term and historical volatility to compute fair value under the Black-Scholes option-pricing model. The risk-free rate for periods within the contractual life of the option is based on the U.S. zero coupon Treasury yield in effect at the time of grant. New restricted stock and restricted stock unit grants are valued at the average market price of our common stock over a consistent predetermined number of days prior to the grant date. We do not estimate a forfeiture rate at the time of grant. Instead, we recognize share-based compensation expense when actual forfeitures occur.

2019 Equity and Incentive Compensation Plan

Long-Term/Annual Incentives

On February 26, 2019, stockholders approved and adopted the 2019 Equity and Incentive Compensation Plan ("2019 Plan" or "Incentive Plan"), which replaced the 2016 Equity and Incentive Compensation Plan. The 2019 Plan authorizes the Compensation Committee of the Board of Directors of the Company to grant to officers and other key employees, including directors, of the Company and our subsidiaries (i) stock options, (ii) appreciation rights, (iii) restricted shares, (iv) restricted stock units, (v) cash incentive awards, performance shares and performance units and (vi) other awards. An aggregate of 1,500,000 shares of common stock, subject to adjustment upon occurrence of certain events to prevent dilution or expansion of the rights of participants that might otherwise result from the occurrence of such events, was reserved for issuance pursuant to the Incentive Plan. An individual’s award of options and / or appreciation rights is limited to 500,000 shares during any calendar year. Also, an individual's award of restricted shares, restricted share units and performance based awards is limited to 350,000 shares during any calendar year.

The following table summarizes the Company's Incentive Plan activity during the years ended October 31, 2019, 2018 and 2017:



	Stock Options				Restricted Stock				Restricted Stock Units
Outstanding at:	Options		Weighted Average Exercise Price	Weighted Average Remaining Contractual Life	Restricted Shares		Grant Fair Value	Weighted Average Remaining Contractual Life	Restricted Share Units		Grant Fair Value		Weighted Average Remaining Contractual Life



November 1, 2016	90		$9.67	3.04	376		$6.11	1.83	22		$	4.17	1.46
Granted	—		—		247		7.94		29		8.62
Options exercised or restricted stock vested	(8	)	9.79		(174	)	6.11		(14	)	4.17
Forfeited or expired	(24	)	13.38		(8	)	9.57		(1	)	7.06
October 31, 2017	58		$8.16	2.53	441		$7.07	1.60	36		$	7.69	1.82
Granted	—		—		316		8.18		18		7.90
Options exercised or restricted stock vested	(17	)	4.09		(225	)	7.80		(15	)	8.30
Forfeited or expired	(8	)	12.04		(54	)	7.13		(12	)	6.18
October 31, 2018	33		$9.42	1.84	478		$7.45	1.87	27		$8.17		1.37
Granted	—		—		457		6.51		43		6.47
Options exercised or restricted stock vested	—		—		(234	)	6.87		(14	)	7.98
Forfeited or expired	(10	)	5.30		(98	)	7.21		(9	)	7.26
October 31, 2019	23		$11.25	1.31	603		$7.00	1.86	47		$6.81		1.88

We recorded stock compensation expense related to restricted stock and restricted stock units during the fiscal years ended October 31, 2019, 2018 and 2017 as follows:



	2019		2018		2017
Restricted stock	$	1,883	$	1,863	$	1,583
Restricted stock units	152		121		115
Total	$	2,035	$	1,984	$	1,698

Stock Options

The exercise price of each stock option equals the market price of our common stock on its grant date. Compensation expense is recorded at the grant date fair value, adjusted for forfeitures as they occur and is recognized on a straight-line basis over the applicable vesting period. Our stock options generally vest over three years, with a maximum term of ten years. There was zero stock compensation expense related to stock options in fiscal 2019, 2018 or 2017. Stock options were not granted during fiscal years 2019, 2018 and 2017.

Cash received from the exercise of options for the fiscal years ended October 31, 2019, 2018, and 2017 was $0, $73, and $78, respectively. At October 31, 2019, the options outstanding and exercisable had an intrinsic value of $0. Options that have an exercise price greater than the market price on October 31, 2019 were excluded from the intrinsic value computation. The intrinsic value of options exercised during fiscal 2019 and 2018 was $0 and $94, respectively.

The following table provides additional information regarding options outstanding as of October 31, 2019:



Exercise Prices	Options Outstanding	Exercise Price of Options Outstanding and Options Exercisable	Options Exercisable	Weighted Average Remaining Contractual Life


$8.10	4,500	$8.10	4,500	2.11
$12.04	18,000	$12.04	18,000	1.11
Totals	22,500		22,500

Restricted Stock Awards

New restricted stock grants are valued at the average market price of our common stock over a consistent predetermined amount of days prior to the grant date. Compensation expense is recorded at the grant date fair value, adjusted for forfeitures as they occur and is recognized over the applicable vesting periods. The vesting periods range between one to three years. As of October 31, 2019, there was $2,706 of total unrecognized compensation costs related to these restricted stock awards to be recognized over the next three fiscal years.

Restricted Stock Units

New restricted stock unit grants are valued at the average market price of our common stock over a consistent predetermined amount of days prior to the grant date. Compensation expense is recorded at the grant date fair value, adjusted for forfeitures as they occur and is recognized over the applicable vesting periods. The vesting periods range between one to three years. As of October 31, 2019, there was $193 of total unrecognized compensation expense related to these restricted stock units that is expected to be recognized over the next three fiscal years.