Stock-based compensation

At July 31, 2018, the Company had one incentive stock plan under which new equity incentive awards may be granted:


•	2017 Omnibus Stock Incentive Plan dated June 13, 2017, as amended, which stockholders approved in June 2017.

The Company has prior incentive plans under which previously granted awards remain outstanding, but under which no new awards may be granted. At July 31, 2018, the Company had reserved a total of 938,565 shares for grants and issuances under these incentive stock plans, which includes a reserve for issuance pursuant to unvested or unexercised prior awards, and shares for new grants or issuance pursuant to the 2017 Plan.

While the 2017 Plan provides for the grant of deferred shares, non-qualified stock options, incentive stock options, restricted shares, restricted stock units, and performance-based restricted stock units intended to qualify under section 422 of the Internal Revenue Code, to date the Company has issued only restricted shares and restricted stock units under the 2017 Plan and currently intends to continue this practice. The 2017 Plan authorizes awards to officers, employees, consultants, and directors.

The Company has equity-based compensation awards that can be granted to eligible employees, officers or directors. The following is the equity-based compensation expense:



	Three Months Ended July 31,				Six Months Ended July 31,
	2018		2017		2018		2017
Stock-based compensation expense		$9		$65		$23		$59
Restricted stock-based compensation expense		$432		$452		$688		$647

Stock Options

The following tables summarize the Company's stock option activity:



Option activity	No. of Shares UnderlyingOptions		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 31, 2018	358			$9.44	4.0		$482
Exercised	(37	)	6.88			37
Expired or forfeited	(53	)	17.14
Outstanding end of period	268		8.42		4.1	392

Exercisable end of period	257			$8.48	3.9		$370



Unvested option activity	No. of Shares UnderlyingOptions		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at January 31, 2018	31			$8.24		$50
Vested	(14	)
Expired or forfeited	(6	)
Outstanding end of period	11			$7.00		$23

As of July 31, 2018, there was less than $0.1 million of total unrecognized compensation expense related to unvested stock options. The expense is expected to be recognized over a weighted average period of 1.6 years.

Restricted stock

The following table summarizes the Company's restricted stock activity for the year:



Restricted stock activity	Restricted Shares		Weighted Average Grant Price Per Share		Aggregate Intrinsic Value
Outstanding (unvested) at January 31, 2018	360			$9.05		$3,254
Granted	124		9.75
Vested and issued	(88	)
Forfeited	(63	)	7.19
Outstanding (unvested) end of period	333			$9.05		$3,022

As of July 31, 2018, there was $1.9 million of unrecognized compensation expense related to unvested restricted stock granted under the plans. The expense is expected to be recognized over a period of 4.0 years.

Based upon certain second quarter 2018 matters, including the share settlement to a retiring board director, the Company changed the accounting for the deferred stock compensation arrangements granted to directors from liability accounting treatment to equity accounting treatment and, as such, classified $0.7 million from a liability to additional paid in capital.