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Stock-based Compensation (Tables)

6 Months Ended

Jan. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Option Activity for Stock Options

The following is a summary of activity for the Company’s stock options for the six months ended January 31, 2024:

(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, 2023						17,825						$	15.47					4.67						$	512,045
Grants of options						931						49.79
Exercises						(1,160)						11.62
Forfeitures or expirations						—						—
Outstanding as of January 31, 2024						17,596						$	17.54					4.59						$	538,438
Exercisable as of January 31, 2024						14,810						$	14.24					3.93						$	500,518

The following is a summary of activity for the Company’s stock option awards subject to market conditions for the six months ended January 31, 2024:

(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, 2023						5,920						$	24.37					7.43						$	117,389
Grants of options						75						50.89
Exercises						—						—
Forfeitures or expirations						—						—
Outstanding as of January 31, 2024						5,995						$	24.70					6.96						$	140,151
Exercisable as of January 31, 2024						3,568						$	23.04					6.67						$	89,211

Recognized Stock-based Compensation Expense

The table below sets forth the stock-based compensation recognized by the Company for stock options, restricted stock, and restricted unit awards:

						Three Months Ended January 31,												Six Months Ended January 31,
(In thousands)						2024						2023						2024						2023
General and administrative						$	7,541					$	8,789					$	14,492					$	17,536
Yard operations						1,628						1,342						3,184						2,787
Total stock-based compensation						$	9,169					$	10,131					$	17,676					$	20,323

Share Based Payment Arrangement Restricted Stock and Restricted Stock Unit Activity

The following is a summary of activity for the Company’s RSA and RSU for the six months ended January 31, 2024:

(In thousands, except per share data)						Restricted Shares						Weighted Average Grant Date Fair Value
Outstanding as of July 31, 2023						800						$	31.77
Grants						266						48.85
Vested						(144)						29.48
Forfeitures or expirations						(7)						32.56
Outstanding as of January 31, 2024						915						$	37.08

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- References

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Topic 718
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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