Share-Based Compensation

3 Months Ended

Apr. 30, 2014

6. Share-Based Compensation

The Company maintains stock incentive plans pursuant to which it can grant restricted shares, unrestricted shares, incentive stock options, non-qualified stock options, restricted stock units (“RSU’s”), performance stock units (“PSU’s”) or stock appreciation rights (“SAR’s”). A lattice binomial pricing model was used to estimate the fair values of stock options and SAR’s. The fair value of each of the PSU’s was determined using a Monte Carlo simulation.

Share-based compensation expense included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Income, for the three months ended April 30, 2014 and 2013 was as follows:


	Three Months Ended April 30,
	2014		2013
Stock options	$	413	$	704
Stock appreciation rights		646		767
Performance stock units		3,461		2,123
Restricted stock units		56		47

Total	$	4,576	$	3,641

Share-based awards granted and the weighted-average fair value for the three months ended April 30, 2014 was as follows:


	Three Months Ended April 30, 2014
	Awards Granted		Weighted Average Fair Value
Stock options		—	$	—
Stock appreciation rights		—	$	—
Performance stock units		17,000	$	22.67
Restricted stock units		—	$	—

Total		17,000

The total unrecognized compensation cost related to outstanding share-based awards and the weighted-average period in which the cost is expected to be recognized as of April 30, 2014 is as follows:


	April 30 , 2014
	Unrecognized Compensation Cost		Weighted Average Years
Stock options	$	376		0.6
Stock appreciation rights		4,929		2.2
Performance stock units		39,886		3.2
Restricted stock units		80		0.9

Total	$	45,271		3.1

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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