Note 8 - Stock-based Compensation

9 Months Ended

Oct. 31, 2024

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

Note 8 - Stock-based compensation 

The Company has prior incentive plans under which previously granted awards remain outstanding, but under which no new awards may be granted, including the Company's 2021 Omnibus Stock Incentive Plan, which expired in May 2024. At  October 31, 2024, the Company had reserved a total 196,276 shares for grants and issuances under these incentive plans, including issuances pursuant to unvested or unexercised prior awards.

The Company's 2024 Omnibus Stock Incentive Plan, dated May 28, 2024, was approved by the Company's stockholders in July 2024 ("2024 Plan"). The 2024 Plan will expire in July 2027. The 2024 Plan authorizes awards to officers, employees, consultants, and independent directors. The 2024 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.

Grants were made in connection with the 2024 Plan and the prior incentive plans to employees, officers, and independent directors, as further described below.   

Stock-based compensation expense

The Company has granted stock-based compensation awards to eligible employees, officers or independent directors. The Company recognized the following stock-based compensation expense for the periods presented:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2023		2024		2023
Restricted stock-based compensation expense	$	232	$	227	$	629	$	686

Stock options

The Company did not grant any stock options during the three or nine months ended October 31, 2024. The following table summarizes the Company's stock option activity:

	Options			Weighted Average Exercise Price (Per share)		Weighted Average Remaining Contractual Term (In years)		Aggregate Intrinsic Value
Outstanding at January 31, 2024		22		$	11.15		0.7	$	6
Exercised		(5	)		6.89		-		21
Expired or forfeited		(17	)		12.41		-		-
Outstanding and exercisable at October 31, 2024		-		$	6.85		1.1	$	4

There was no vesting, expiration or forfeiture of previously unvested stock options during the nine months ended October 31, 2024. In addition, there were no remaining unvested stock options outstanding, and therefore no unrecognized compensation expense related to unvested stock options.

Restricted stock

The following table summarizes the Company's restricted stock activity for the nine months ended  October 31, 2024:

	Restricted Shares			Weighted Average Price (Per share)		Aggregate Intrinsic Value
Outstanding at January 31, 2024		222		$	9.33	$	2,078
Granted		108			8.81
Vested and issued		(73	)		9.36
Forfeited or retired for taxes		(27	)		10.29
Outstanding at October 31, 2024		230		$	9.05	$	2,080

As of October 31, 2024, there was $1.3 million of unrecognized compensation expense related to unvested restricted stock granted under the plans. These costs are expected to be recognized over a weighted average period of 1.9 years.