XML 35 R20.htm IDEA: XBRL DOCUMENT v3.7.0.1
Deferred and restricted stock (Notes)
 12 Months Ended
Jan. 31, 2017
Restricted stock [Abstract]  
Schedule of deferred and restricted Stock [Table Text Block]
Deferred stock

In June 2016 under the Omnibus Plan described above, the Company granted deferred stock units to each non-employee director at the time of the annual meeting of stockholders equal to the result of dividing $40,000 by the fair market value of the common stock on the date of grant. The stock will be distributed to the directors upon their separation from service.

As of January 31, 2017, there were approximately 60,495 deferred stock units outstanding included in restricted stock activity below.
 
2016

2015

Deferred compensation liabilities

$529


$495



Restricted stock

In June 2016 under the Omnibus Plan described above, the Company granted restricted stock to Tier I and Tier II executive officers. The restricted stock vest ratably over three years. Until restricted stock becomes vested and nonforfeitable, it may not be sold, assigned, transferred, pledged, hypothecated or disposed of in any way (whether by operation of law or otherwise), except by will or the laws of descent and distribution, and shall not be subject to execution, attachment or similar process. The Company issues new shares from its treasury stock or authorized but unissued share pool. The Company calculates restricted stock compensation expense based on the grant date fair value and recognizes expense on a straight-line basis over the vesting period. The following table summarizes restricted stock activity for the years ended January 31, 2017 and 2016, respectively:
 
Restricted shares

Weighted average grant price

Aggregate intrinsic value

Outstanding on January 31, 2015
86


$14.52


$1,242

Granted
108

6.38

 
Issued
(26
)
 
 
Forfeited
(5
)
6.38

 
Outstanding on January 31, 2016
163


$6.40


$1,040

 
 
 
 
Granted
254

7.29

 
Issued
(91
)
 
 
Forfeited or used to cover payroll taxes
(36
)
7.75

 
Outstanding on January 31, 2017
290


$8.75


$2,540



As of January 31, 2017, there was $1.2 million of unrecognized compensation cost related to unvested restricted stock granted under the plans. That cost is expected to be recognized over the weighted-average period of 2.2 years.