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EMPLOYEE BENEFITS
 9 Months Ended
Oct. 31, 2017
Disclosure Text Block Supplement [Abstract]  
Compensation and Employee Benefit Plans [Text Block]

Note 12. Employee Benefits


The Company maintains the REX 2015 Incentive Plan, approved by its shareholders, which reserves a total of 550,000 shares of common stock for issuance pursuant to its terms. The plan provides for the granting of shares of stock, including options to purchase shares of common stock, stock appreciation rights tied to the value of common stock, restricted stock, and restricted stock unit awards to eligible employees, non-employee directors and consultants. The Company measures share-based compensation grants at fair value on the grant date, adjusted for estimated forfeitures. The Company records noncash compensation expense related to liability and equity awards in its consolidated financial statements over the requisite service period on a straight-line basis. At October 31, 2017, 511,174 shares remain available for issuance under the Plan. As a component of their compensation, restricted stock has been granted to directors at the closing market price of REX common stock on the date of the grant. In addition one third of executives’ incentive compensation is payable by an award of restricted stock based on the then closing market price of REX common stock.


At October 31, and January 31, 2017, unrecognized compensation cost related to nonvested restricted stock was approximately $277,000 and $214,000, respectively. The following table summarizes non-vested restricted stock award activity for the nine months ended October 31, 2017 and 2016:


   Nine Months Ended October 31, 2017
    
       Weighted  Weighted
       Average Grant  Average Remaining
   Non-Vested   Date Fair Value  Vesting Term
   Shares   (000’s)  (in years)
           
Non-Vested at January 31, 2017   23,350   $1,386    2 
Granted   14,156    1,370      
Forfeited   -    -      
Vested   8,091    481      
                
Non-Vested at October 31, 2017   29,415   $2,275    2 

   Nine Months Ended October 31, 2016
    
       Weighted  Weighted
       Average Grant  Average Remaining
   Non-Vested   Date Fair Value  Vesting Term
   Shares   (000’s)  (in years)
           
Non-Vested at January 31, 2016   3,168   $200    2 
Granted   21,502    1,269      
Forfeited   -    -      
Vested   1,320    83      
                
Non-Vested at October 31, 2016   23,350   $1,386    3