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Equity and Stock-Based Compensation
3 Months Ended
Apr. 30, 2020
Equity [Abstract]  
Equity and Stock-Based Compensation
Equity and Stock-Based Compensation
During the three months ended April 30, 2020, the Board declared quarterly dividends of $0.5625 per share for our Preferred Stock. The Board also approved the grant of 250,000 non-qualified stock options and 15,000 shares of restricted stock during the first quarter of fiscal 2021. The non-qualified stock options had an average option price of $1.25 while the restricted stock was granted at an average price of $1.25 per share. Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three months ended April 30, 2020 was approximately $230,000 and during the three months ended April 30, 2019 was approximately $172,000.
Refer to Note 10 for additional details related to the issuance of Preferred Stock under the Company's ATM offering program.