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Share-Based Compensation
3 Months Ended
Apr. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation

7. 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 (“RSUs”), performance stock units (“PSUs”) or stock appreciation rights. The fair value of PSUs and RSUs 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 Income, for the three months ended April 30, 2025 and 2024, was as follows:

 

 

Three Months Ended

 

 

 

April 30,

 

 

 

2025

 

 

2024

 

Performance Stock Units

 

$

1,205

 

 

$

1,237

 

Restricted Stock Units

 

 

6,558

 

 

 

6,362

 

Total

 

$

7,763

 

 

$

7,599

 

 

Share-based awards granted and the weighted-average fair value of such awards for the three months ended April 30, 2025 was as follows:

 

 

 

 

 

April 30, 2025

 

 

 

 

 

 

Weighted-

 

 

 

Awards

 

 

Average Fair

 

 

 

Granted

 

 

Value

 

Performance Stock Units

 

 

84,051

 

 

$

56.77

 

Restricted Stock Units

 

 

498,046

 

 

$

56.77

 

Total

 

 

582,097

 

 

 

 

 

During the three months ended April 30, 2025, 180,713 PSUs vested and 805,816 RSUs 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, 2025 was as follows:

 

 

April 30, 2025

 

 

 

Unrecognized

 

 

Weighted-

 

 

 

Compensation

 

 

Average

 

 

 

Cost

 

 

Years

 

Performance Stock Units

 

$

8,539

 

 

 

2.3

 

Restricted Stock Units

 

 

50,634

 

 

 

2.4

 

Total

 

$

59,173