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Stock-Based Compensation (Tables) | 12 Months Ended
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Jul. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Summary of stock-based awards outstanding by award type | As of July 31, 2023, the following stock-based awards, by award type, were outstanding:
| July 31, 2023
Stock options | 240,510 |
Performance shares | 666,324 |
RSUs, restricted stock, share units and other stock-based awards | 1,209,906 |
Total | 2,116,740 |
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 Consolidated Statements of Operations:
|  | Fiscal Years Ended July 31,
|  | 2023 |  | 2022 |  | 2021
Cost of sales |  | $ | 1,110,000 |  |  | 692,000 |  |  | 929,000 |
Selling, general and administrative expenses |  | 7,960,000 |  |  | 6,312,000 |  |  | 8,091,000 |
Research and development expenses |  | 1,037,000 |  |  | 763,000 |  |  | 963,000 |
Stock-based compensation expense before CEO transition costs |  | 10,107,000 |  |  | 7,767,000 |  |  | 9,983,000 |
CEO transition costs related to equity-classified stock-based awards |  | 3,764,000 |  |  | 7,388,000 |  |  | — |
Total stock-based compensation expense before income tax benefit |  | 13,871,000 |  |  | 15,155,000 |  |  | 9,983,000 |
Estimated income tax benefit |  | (2,552,000) |  |  | (2,260,000) |  |  | (2,164,000) |
Net stock-based compensation expense |  | $ | 11,319,000 |  |  | 12,895,000 |  |  | 7,819,000 |
Summary of stock-based compensation expense by award type | Stock-based compensation expense, by award type, is summarized as follows:
|  | Fiscal Years Ended July 31,
|  | 2023 |  | 2022 |  | 2021
Stock options |  | $ | 87,000 |  |  | 519,000 |  |  | 370,000 |
Performance shares |  | 973,000 |  |  | 1,136,000 |  |  | 1,345,000 |
RSUs, restricted stock, share units and other stock-based awards |  | 8,926,000 |  |  | 5,912,000 |  |  | 8,060,000 |
ESPP |  | 121,000 |  |  | 200,000 |  |  | 208,000 |
Stock based compensation expense |  | 10,107,000 |  |  | 7,767,000 |  |  | 9,983,000 |
CEO transition costs related to equity-classified stock-based awards |  | 3,764,000 |  |  | 7,388,000 |  |  | — |
Total stock-based compensation expense before income tax benefit |  | 13,871,000 |  |  | 15,155,000 |  |  | 9,983,000 |
Estimated income tax benefit |  | (2,552,000) |  |  | (2,260,000) |  |  | (2,164,000) |
Net stock-based compensation expense |  | $ | 11,319,000 |  |  | 12,895,000 |  |  | 7,819,000 |
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, 2020 |  | 1,422,025 |  |  | $ | 26.17 |  |  |  |  |
Expired/canceled |  | (348,590) |  |  | 27.44 |  |  |  |  |
Outstanding at July 31, 2021 |  | 1,073,435 |  |  | 25.76 |  |  |  |  |
Expired/canceled |  | (588,735) |  |  | 26.86 |  |  |  |  |
Exercised |  | (1,220) |  |  | 17.88 |  |  |  |  |
Outstanding at July 31, 2022 |  | 483,480 |  |  | 24.43 |  |  |  |  |
Expired/canceled |  | (242,970) |  |  | 24.89 |  |  |  |  |
Outstanding at July 31, 2023 |  | 240,510 |  |  | $ | 23.96 |  |  | 3.97 |  | $ | — |
Exercisable at July 31, 2023 |  | 211,870 |  |  | $ | 24.78 |  |  | 3.63 |  | $ | — |
Vested and expected to vest at July 31, 2023 |  | 238,868 |  |  | $ | 24.00 |  |  | 3.96 |  | $ | — |
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, share units and other stock-based awards:
|  | Awards (in Shares) |  | Weighted Average Grant Date Fair Value |  | Aggregate Intrinsic Value
Outstanding at July 31, 2020 |  | 999,574 |  |  | $ | 21.15 |  |  |
Granted |  | 644,272 |  |  | 19.06 |  |  |
Settled |  | (455,564) |  |  | 17.09 |  |  |
Canceled/Forfeited |  | (119,912) |  |  | 18.42 |  |  |
Outstanding at July 31, 2021 |  | 1,068,370 |  |  | 21.93 |  |  |
Granted |  | 797,771 |  |  | 18.77 |  |  |
Settled |  | (641,747) |  |  | 22.83 |  |  |
Canceled/Forfeited |  | (113,644) |  |  | 22.78 |  |  |
Outstanding at July 31, 2022 |  | 1,110,750 |  |  | 19.05 |  |  |
Granted |  | 1,550,951 |  |  | 10.79 |  |  |
Settled |  | (632,267) |  |  | 16.69 |  |  |
Canceled/Forfeited |  | (153,204) |  |  | 16.67 |  |  |
Outstanding at July 31, 2023 |  | 1,876,230 |  |  | $ | 13.21 |  |  | $ | 19,062,000 |
Vested at July 31, 2023 |  | 847,243 |  |  | $ | 13.53 |  |  | $ | 8,608,000 |
Vested and expected to vest at July 31, 2023 |  | 1,836,835 |  |  | $ | 13.21 |  |  | $ | 18,662,000 |

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