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Stock-Based Compensation | 3 Months Ended
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Jul. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation The Company provides stock-based compensation to its employees and non-employee directors, which may include restricted stock units (RSU), performance-based stock awards (PSU), and stock options (collectively, stock-based awards). We recognize the grant date fair value of stock-based compensation in net income generally on a straight-line basis, net of estimated forfeitures over the requisite service period. We recognized stock-based compensation expense, on a pretax basis, as follows:
| Three Months Ended July 31,
| 2025 |  | 2024
Stock-based compensation expense | $ | 5,899 |  |  | $ | 5,968 |
Performance-Based and Other Restricted Stock Activity Under the terms of our long-term incentive plans, PSU awards are payable in restricted shares of our Class A Common Stock upon the achievement of certain three-year or less financial performance-based targets. The measurement of performance is based on actual financial results for targets established up to three years in advance, or less. During each three-year period or less, we adjust compensation expense based upon our best estimate of expected performance. We may also grant individual RSU awards payable in restricted shares of our Class A Common Stock to key employees in connection with their employment. The following table summarizes awards we granted to employees (shares in thousands):
| Three Months Ended July 31,
| 2025 |  | 2024
Restricted Stock: |  |  |
Awards granted (shares) | 543 |  | 701
Weighted average fair value of grant | $ | 43.75 |  |  | $ | 42.98 |
Stock Option Activity There were no stock option awards granted during the three months ended July 31, 2025 and 2024.

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