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Equity
3 Months Ended
Oct. 31, 2019
Equity [Abstract]  
Equity

Note 10—Equity

 

Stock Repurchases

 

The Company has an existing stock repurchase program authorized by its Board of Directors for the repurchase of up to an aggregate of 8.0 million shares of the Company's Class B common stock. There were no repurchases under the program in the three months ended October 31, 2019. In the three months ended October 31, 2018, the Company repurchased 729,110 shares of Class B common stock for an aggregate purchase price of $3.9 million. At October 31, 2019, 6.9 million shares remained available for repurchase under the stock repurchase program.

 

2015 Stock Option and Incentive Plan

 

In the three months ended October 31, 2019, the Company received proceeds from the exercise of stock options of $0.3 million for which the Company issued 32,551 shares of its Class B common stock. There were no stock option exercises in the three months ended October 31, 2018.

 

On September 12, 2019, the Company's Board of Directors amended the Company's 2015 Stock Option and Incentive Plan to increase the number of shares of the Company's Class B common stock available for the grant of awards thereunder by an additional 0.4 million shares. The amendment is subject to approval by the Company's stockholders at its annual meeting of stockholders on December 12, 2019.