Stockholder's Equity (Tables)

12 Months Ended

Jul. 31, 2017

The exercised stock options, utilizing a cashless exercise, are summarized in the following table:



Period	Options Exercised	Weighted Average Exercise Price		Shares Net Settled for Exercise	Shares Withheld for Taxes(1)	Net Shares to Employees	Weighted Average Share Price for Withholding		Employee Stock Based Tax Withholding (in 000s)
FY 2015—Q1	402,666	$	9.80	249,242	70,832	82,592	$	15.83	$	1,121
FY 2015—Q3	279,380	10.14		152,042	41,312	86,026	18.64		770
FY 2015—Q4	400,000	6.01		133,204	104,316	162,480	18.04		1,882
FY 2016—Q4	2,260,000	9.32		821,296	586,304	852,400	25.65		15,039
FY 2017—Q1	18,000,000	7.70		5,408,972	5,255,322	7,335,706	25.62		134,615


(1)	Shares withheld for taxes are treated as a repurchase of shares for accounting purposes but do not count against the Company’s stock repurchase program.

The following table details stock-based payment compensation expense included in the company’s consolidated statements of income:



	Year Ended July 31,
(In thousands)	2017		2016		2015
General and administrative	$	17,622	$	18,194	$	15,938
Yard operations	3,286		2,670		2,216
Total stock-based payment compensation	$	20,908	$	20,864	$	18,154

A summary of the status of the Company’s non-vested shares and its activity during the year ended July 31, 2017 was as follows:



(In thousands, except per share amounts)	Number of Shares		Weighted Average Grant- date Fair Value
Non-vested shares at July 31, 2016	9,622		$	5.33
Grants of non-vested shares	939		7.05
Vested	(3,509	)	5.30
Forfeitures or expirations	(385	)	5.55
Non-vested shares at July 31, 2017	6,667		$	5.57

Stock option activity for the year ended July 31, 2017 was as follows:



(In thousands, except per share and term data)	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In years)	Aggregate Intrinsic Value
Outstanding as of July 31, 2016	38,902		$	12.15	4.96	$	508,401
Grants of options	939		27.83
Exercises	(20,682	)	8.21
Forfeitures or expirations	(385	)	19.12
Outstanding as of July 31, 2017	18,774		$	17.14	6.48	$	269,449

Exercisable as of July 31, 2017	12,112		$	15.95	5.96	$	188,211

Vested and expected to vest as of July 31, 2017	18,316		$	17.09	6.45	$	263,691

The following table summarizes stock options outstanding and exercisable as of July 31, 2017:



(In thousands, except per share amounts)	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number	Weighted Average Exercise Price
$6.54–$10.28	2,285	3.18	$	9.53	2,285	$	9.53
$10.52–$17.73	3,890	7.10	16.34		2,047	15.18
$17.81–$18.23	9,352	6.44	17.87		6,569	17.88
$18.32–$31.24	3,247	8.19	21.34		1,211	18.94
Outstanding and exercisable as of July 31, 2017	18,774	6.48	17.14		12,112	15.95