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EMPLOYEE BENEFITS
 12 Months Ended
Jan. 31, 2018
Disclosure Text Block Supplement [Abstract]  
Compensation and Employee Benefit Plans [Text Block]

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 January 31, 2018, 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 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 market price of REX common stock.


At January 31, 2018 and 2017, unrecognized compensation cost related to nonvested restricted stock was approximately $233,000 and $214,000, respectively. The following table summarizes non-vested restricted stock award activity for the fiscal years 2017, 2016 and 2015:


   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 January 31, 2018   29,415   $2,275    2 
     

   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 January 31, 2017   23,350   $1,386    2 
             

   2015 
       Weighted   Weighted 
       Average Grant   Remaining Vesting 
   Non-Vested   Date Fair Value   Vesting Term 
   Shares   (000’s)   (in years) 
             
Non-Vested at January 31, 2015   —   $—      
Granted   3,168    200      
Forfeited   —    —      
Vested   —    —      
                
Non-Vested at January 31, 2016   3,168   $200    2 

The above tables include 24,711 and 18,541 non-vested shares at January 31, 2018 and 2017, respectively, which are included in the number of weighted average shares outstanding used to determine basic and diluted earnings per share attributable to REX common shareholders. Such shares are treated, for accounting purposes, as being fully vested at the grant date as they were granted to recipients who were retirement eligible at the time of grant.


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