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Stock-Based Compensation (Tables) | 6 Months Ended
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Jan. 31, 2022
Share-based Payment Arrangement [Abstract] |
Summary of stock-based awards outstanding by award type | As of January 31, 2022, the following stock-based awards, by award type, were outstanding:
| January 31, 2022
Stock options | 1,005,935 |
Performance shares | 341,652 |
RSUs, restricted stock and share units | 704,953 |
Total | 2,052,540 |
Stock-based compensation for awards detailing where recorded in Consolidated Statement of Operations | Stock-based compensation for awards issued is reflected in the following line items in our Condensed Consolidated Statements of Operations:
|  | Three months ended January 31, |  | Six months ended January 31,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Cost of sales |  | $ | 76,000 |  |  | 59,000 |  |  | $ | 149,000 |  |  | 132,000 |
Selling, general and administrative expenses |  | 1,836,000 |  |  | 1,158,000 |  |  | 2,608,000 |  |  | 1,700,000 |
Research and development expenses |  | 71,000 |  |  | 70,000 |  |  | 147,000 |  |  | 154,000 |
Stock-based compensation expense |  | 1,983,000 |  |  | 1,287,000 |  |  | 2,904,000 |  |  | 1,986,000 |
CEO transition costs related to equity-classified stock-based awards |  | 7,388,000 |  |  | — |  |  | 7,388,000 |  |  | — |
Total stock-based compensation expense before income tax benefit |  | 9,371,000 |  |  | 1,287,000 |  |  | 10,292,000 |  |  | 1,986,000 |
Estimated income tax benefit |  | (1,030,000) |  |  | (280,000) |  |  | (1,223,000) |  |  | (424,000) |
Net stock-based compensation expense |  | $ | 8,341,000 |  |  | 1,007,000 |  |  | $ | 9,069,000 |  |  | 1,562,000 |
Summary of stock-based compensation expense by award type | Stock-based compensation expense, by award type, is summarized as follows:
|  | Three months ended January 31, |  | Six months ended January 31,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Stock options |  | $ | 364,000 |  |  | 97,000 |  |  | $ | 442,000 |  |  | 217,000 |
Performance shares |  | 364,000 |  |  | 443,000 |  |  | 713,000 |  |  | 665,000 |
RSUs, restricted stock and share units |  | 1,200,000 |  |  | 699,000 |  |  | 1,639,000 |  |  | 1,005,000 |
ESPP |  | 55,000 |  |  | 48,000 |  |  | 110,000 |  |  | 99,000 |
Stock-based compensation expense |  | 1,983,000 |  |  | 1,287,000 |  |  | 2,904,000 |  |  | 1,986,000 |
CEO transition costs related to equity-classified stock-based awards |  | 7,388,000 |  |  | — |  |  | 7,388,000 |  |  | — |
Total stock-based compensation expense before income tax benefit |  | 9,371,000 |  |  | 1,287,000 |  |  | 10,292,000 |  |  | 1,986,000 |
Estimated income tax benefit |  | (1,030,000) |  |  | (280,000) |  |  | (1,223,000) |  |  | (424,000) |
Net stock-based compensation expense |  | $ | 8,341,000 |  |  | 1,007,000 |  |  | $ | 9,069,000 |  |  | 1,562,000 |
Summary of the Plan's activity relating to stock options | The following table summarizes the Plan's activity:
|  | Awards (in Shares) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding at July 31, 2021 |  | 1,073,435 |  |  | $ | 25.76 |  |  |  |  |
Expired/canceled |  | (56,250) |  |  | 27.59 |  |  |  |  |
Exercised |  | (1,220) |  |  | 17.88 |  |  |  |  |
Outstanding at October 31, 2021 |  | 1,015,965 |  |  | 25.66 |  |  |  |  |
Expired/canceled |  | (10,030) |  |  | 27.14 |  |  |  |  |
Outstanding at January 31, 2022 |  | 1,005,935 |  |  | $ | 25.65 |  |  | 2.46 |  | $ | 716,000 |
Exercisable at January 31, 2022 |  | 888,575 |  |  | $ | 26.68 |  |  | 1.68 |  | $ | 429,000 |
Vested and expected to vest at January 31, 2022 |  | 999,147 |  |  | $ | 25.70 |  |  | 2.42 |  | $ | 699,000 |
Summary of the Plan's activity relating to performance shares, RSUs, restricted stock and share units | The following table summarizes the Plan's activity relating to performance shares, RSUs, restricted stock and share units:
|  | Awards (in Shares) |  | Weighted Average Grant Date Fair Value |  | Aggregate Intrinsic Value
Outstanding at July 31, 2021 |  | 1,068,370 |  |  | $ | 21.93 |  |  |
Granted |  | 228,161 |  |  | 26.81 |  |  |
Settled |  | (190,310) |  |  | 23.97 |  |  |
Canceled/Forfeited |  | (40,880) |  |  | 23.15 |  |  |
Outstanding at October 31, 2021 |  | 1,065,341 |  |  | 22.56 |  |  |
Granted |  | 187,658 |  |  | 23.35 |  |  |
Settled |  | (191,238) |  |  | 22.47 |  |  |
Canceled/Forfeited |  | (15,156) |  |  | 21.88 |  |  |
Outstanding at January 31, 2022 |  | 1,046,605 |  |  | $ | 22.73 |  |  | $ | 21,277,000 |
Vested at January 31, 2022 |  | 444,490 |  |  | $ | 22.12 |  |  | $ | 9,036,000 |
Vested and expected to vest at January 31, 2022 |  | 1,009,648 |  |  | $ | 22.71 |  |  | $ | 20,526,000 |

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