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EMPLOYEE BENEFITS
 12 Months Ended
Jan. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

 

 

12.

EMPLOYEE BENEFITS

 

 

 

Stock Option Plans – The Company maintains the REX American Resources Corporation 1995 Omnibus Stock Incentive Plan and the REX American Resources Corporation 1999 Omnibus Stock Incentive Plan (the “Omnibus Plans”). Under the Omnibus Plans, the Company may grant to officers and key employees awards in the form of non-qualified stock options, stock appreciation rights, restricted stock, other stock-based awards and cash incentive awards. The Omnibus Plans also provide for yearly grants of non-qualified stock options to directors who are not employees of the Company. The exercise price of each option must be at least 100% of the fair market value of the Company’s common stock on the date of grant. A maximum of 4,500,000 shares of common stock are authorized for issuance under each of the Omnibus Plans. On January 31, 2012, 108,011 and 2,302,425 shares remain available for issuance under the 1995 and 1999 Plans, respectively.

 

 

 

The following summarizes stock option activity for fiscal years 2011, 2010 and 2009 (amounts in thousands, except per-share amounts):


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2011

 

2010

 

2009

 

 

 

 

 

 

 

 

Shares
(000’s)

 

Weighted
Average
Exercise
Price

 

Shares
(000’s)

 

Weighted
Average
Exercise
Price

 

Shares
(000’s)

 

Weighted
Average
Exercise
Price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding—Beginning of year

 

 

726

 

$

10.16

 

 

824

 

$

10.14

 

 

2,715

 

$

9.63

 

Exercised

 

 

(457

)

 

8.41

 

 

(98

)

 

10.00

 

 

(1,683

)

 

8.87

 

Canceled or expired

 

 

—

 

 

—

 

 

—

 

 

—

 

 

(208

)

 

13.75

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding—End of year

 

 

269

 

$

13.15

 

 

726

 

$

10.16

 

 

824

 

$

10.14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable—End of year

 

 

269

 

$

13.15

 

 

726

 

$

10.16

 

 

824

 

$

10.14

 

 

 

 

 

 

 

 

 


 

 

 

Price ranges and other information for stock options outstanding as of January 31, 2012 were as follows (amounts in thousands, except per share amounts):


 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding and Exercisable

 

 

 

 

Range of
Exercise
Prices

 

Shares
(000’s)

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Life

 

 

 

 

 

 

$12.04 to $16.04

 

 

269

 

$

13.15

 

 

1.6