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Stock-Based Compensation (Tables)

9 Months Ended

Apr. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of stock-based awards outstanding by award type

As of April 30, 2024, the following stock-based awards, by award type, were outstanding:

			April 30, 2024
Stock options			170,150
Performance shares			379,353
RSUs, restricted stock, share units and other stock-based awards			1,012,484
Total			1,561,987

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 April 30,												Nine months ended April 30,
						2024						2023						2024						2023
Cost of sales						$	67,000					141,000						$	480,000					452,000
Selling, general and administrative expenses						313,000						3,896,000						4,480,000						5,559,000
Research and development expenses						24,000						89,000						278,000						287,000
Stock-based compensation expense before CEO transition costs						404,000						4,126,000						5,238,000						6,298,000
CEO transition costs related to equity-classified stock-based awards						—						—						—						3,764,000
Total stock-based compensation expense before income tax benefit						404,000						4,126,000						5,238,000						10,062,000
Estimated income tax benefit						(81,000)						(915,000)						(1,149,000)						(1,701,000)
Net stock-based compensation expense						$	323,000					3,211,000						$	4,089,000					8,361,000

Summary of stock-based compensation expense by award type

Stock-based compensation expense, by award type, is summarized as follows:

						Three months ended April 30,												Nine months ended April 30,
						2024						2023						2024						2023
Stock options						$	11,000					22,000						$	42,000					66,000
Performance shares						(662,000)						335,000						280,000						690,000
RSUs, restricted stock and share units						1,040,000						3,738,000						4,850,000						5,449,000
ESPP						15,000						31,000						66,000						93,000
Stock-based compensation expense before CEO transition costs						404,000						4,126,000						5,238,000						6,298,000
CEO transition costs related to equity-classified stock-based awards						—						—						—						3,764,000
Total stock-based compensation expense before income tax benefit						404,000						4,126,000						5,238,000						10,062,000
Estimated income tax benefit						(81,000)						(915,000)						(1,149,000)						(1,701,000)
Net stock-based compensation expense						$	323,000					3,211,000						$	4,089,000					8,361,000

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, 2023						240,510						$	23.96
Expired/canceled						(6,250)						24.31
Outstanding at October 31, 2023						234,260						23.95
Expired/canceled						(9,680)						24.25
Outstanding at January 31, 2024						224,580						23.93
Expired/canceled						(54,430)						28.68
Outstanding at April 30, 2024						170,150						$	22.42					3.97						$	—
Exercisable at April 30, 2024						147,450						$	23.11					3.65						$	—
Vested and expected to vest at April 30, 2024						168,498						$	22.46					3.95						$	—

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, 2023						1,876,230						$	13.21
Granted						913,908						9.93
Settled						(296,198)						16.03
Canceled/Forfeited						(41,814)						15.80
Outstanding at October 31, 2023						2,452,126						11.60
Settled						(383,565)						10.64
Canceled/Forfeited						(41,927)						12.78
Outstanding at January 31, 2024						2,026,634						11.76
Settled						(9,642)						14.10
Canceled/Forfeited						(625,155)						8.47
Outstanding at April 30, 2024						1,391,837						$	13.22					$	2,616,653
Vested at April 30, 2024						451,975						$	14.99					$	849,713
Vested and expected to vest at April 30, 2024						1,333,129						$	13.19					$	2,506,283

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