XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.21.1

EMPLOYEE BENEFITS | 12 Months Ended
--- | ---
Jan. 31, 2021
Disclosure Text Block Supplement [Abstract] |
Compensation and Employee Benefit Plans [Text Block] |
| 9. | 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, 2021, 473,830 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. The Company’s board of directors has determined that the grant date will be June 15th, or the next business day, for all grants of restricted stock. At January 31, 2021 and 2020, unrecognized compensation cost related to nonvested restricted stock was approximately $272,000 and $220,000, respectively. The following table summarizes non-vested restricted stock award activity for fiscal years 2020, 2019 and 2018:
|  | 2020 |
|  |  |  |  | Weighted |  |  | Weighted |
|  |  |  |  | Average Grant |  |  | Average Remaining |
|  | Non-Vested |  |  | Date Fair Value |  |  | Vesting Term |
|  | Shares |  |  | (000’s) |  |  | (in years) |
Non-Vested at January 31, 2020 |  |  | 28,576 |  |  | $ | 2,193 |  |  |  | 2 |
Granted |  |  | 6,158 |  |  |  | 416 |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |
Vested |  |  | 15,029 |  |  |  | 1,211 |  |  |  |  |
Non-Vested at January 31, 2021 |  |  | 19,705 |  |  | $ | 1,398 |  |  |  | 1 |
|  | 2019 |
|  |  |  |  | Weighted |  |  | Weighted |
|  |  |  |  | Average Grant |  |  | Average Remaining |
|  | Non-Vested |  |  | Date Fair Value |  |  | Vesting Term |
|  | Shares |  |  | (000’s) |  |  | (in years) |
Non-Vested at January 31, 2019 |  |  | 38,036 |  |  | $ | 2,935 |  |  |  | 2 |
Granted |  |  | 9,442 |  |  |  | 662 |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |
Vested |  |  | 18,902 |  |  |  | 1,404 |  |  |  |  |
Non-Vested at January 31, 2020 |  |  | 28,576 |  |  | $ | 2,193 |  |  |  | 2 |
|  | 2018 |
|  |  |  |  | Weighted |  |  | Weighted |
|  |  |  |  | Average Grant |  |  | Remaining Vesting |
|  | Non-Vested |  |  | Date Fair Value |  |  | Vesting Term |
|  | Shares |  |  | (000’s) |  |  | (in years) |
Non-Vested at January 31, 2018 |  |  | 29,415 |  |  | $ | 2,275 |  |  |  | 2 |
Granted |  |  | 21,744 |  |  |  | 1,623 |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |
Vested |  |  | 13,123 |  |  |  | 963 |  |  |  |  |
Non-Vested at January 31, 2019 |  |  | 38,036 |  |  | $ | 2,935 |  |  |  | 2 |
The above tables include 14,777, 24,219 and 34,148 non-vested shares at January 31, 2021, 2020 and 2019, 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 officers who were retirement eligible at the time of grant.

X
- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_CompensationAndEmployeeBenefitPlansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockSupplementAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration