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Share-Based Compensation | 3 Months Ended
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Apr. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation | 8. 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 Black-Scholes model was used to estimate the fair value of stock options. The fair value of PSU’s and RSU’s is equal to the stock price on the date of the grant. Share-based compensation expense included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Operations, for the three months ended April 30, 2021 and 2020, was as follows:
|  | Three Months Ended |
|  | April 30, |
|  | 2021 |  |  | 2020 |
Stock Options |  | $ | — |  |  | $ | 342 |
Performance Stock Units(1) |  |  | 399 |  |  |  | 150 |
Restricted Stock Units |  |  | 4,171 |  |  |  | 4,380 |
Total |  | $ | 4,570 |  |  | $ | 4,872 |
| (1) | Includes the reversal of $653 of previously recognized compensation expense in the three months ended April 30, 2020, related to 46,665 PSU’s that will not vest as the achievement of the related performance target is not probable.
Share-based awards granted and the weighted-average fair value of such awards for the three months ended April 30, 2021 was as follows:
|  | April 30, 2021 |
|  |  |  |  |  | Weighted- |
|  | Awards |  |  | Average Fair |
|  | Granted |  |  | Value |
Stock Options |  |  | — |  |  | $ | — |
Performance Stock Units |  |  | 213,750 |  |  | $ | 38.15 |
Restricted Stock Units |  |  | 908,050 |  |  | $ | 37.44 |
Total |  |  | 1,121,800 |  |  |  |  |
During the three months ended April 30, 2021, 35,000 stock options were exercised, 70,001 PSU’s vested and 532,835 RSU’s vested. 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, 2021 was as follows:
|  | April 30, 2021 |
|  | Unrecognized |  |  | Weighted- |
|  | Compensation |  |  | Average |
|  | Cost |  |  | Years |
Stock Options |  | $ | — |  |  |  | — |
Performance Stock Units |  |  | 9,563 |  |  |  | 2.8 |
Restricted Stock Units |  |  | 49,446 |  |  |  | 2.5 |
Total |  | $ | 59,009 |  |  |  |  |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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- References No definition available. + Details
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