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Employee Benefits | 6 Months Ended
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Jul. 31, 2022
Disclosure Text Block Supplement [Abstract] |
Compensation and Employee Benefit Plans [Text Block] | Note 10. Employee Benefits The Company maintains the REX 2015 Incentive Plan, approved by its shareholders, which reserves a total of 1,650,000 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. Until the current year, the Company had only granted restricted stock awards. In May 2022, the Company issued restricted stock units to certain officers of the Company which vest based on the Company’s Total Shareholder Return (TSR) compared to the TSRs of companies that comprise the Russell 2000 Index over a three year performance period. 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 July 31, 2022, 1,342,392 shares remain available for issuance under the Plan. Restricted Stock Awards As a component of their compensation, restricted stock has been granted to directors at the closing market price of REX common stock on the grant date. In addition, one quarter (one third prior to 2022) of executives’ incentive compensation is payable by an award of restricted stock based on the then closing market price of REX common stock on the grant date. The Company’s board of directors has determined that the grant date will be June 15th, or the next business day if June 15th is not a business day, for all grants of restricted stock. At July 31, 2022 and January 31, 2022, unrecognized compensation cost related to nonvested restricted stock was approximately $621,000 and $97,000 respectively. The following tables summarize non-vested restricted stock award activity for the periods presented:
|  | Six Months Ended July 31, 2022 |
|  |  |  |  | Weighted |  | Weighted
|  |  |  |  | Average Grant |  | Average Remaining
|  | Non-Vested |  | Date Fair Value |  | Vesting Term
|  | Shares |  | (000’s) |  | (in years)
Non-Vested at January 31, 2022 |  |  | 30,167 |  |  | $ | 773 |  |  |  | 1 |
Granted |  |  | 70,689 |  |  |  | 2,032 |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |
Vested |  |  | 18,403 |  |  |  | 451 |  |  |  |  |
Non-Vested at July 31, 2022 |  |  | 82,453 |  |  | $ | 2,354 |  |  |  | 3 |
|  | Six Months Ended July 31, 2021 |
|  |  |  |  | Weighted |  | Weighted
|  |  |  |  | Average Grant |  | Average Remaining
|  | Non-Vested |  | Date Fair Value |  | Vesting Term
|  | Shares |  | (000’s) |  | (in years)
Non-Vested at January 31, 2021 |  |  | 59,102 |  |  | $ | 1,398 |  |  |  | 1 |
Granted |  |  | 8,409 |  |  |  | 275 |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |
Vested |  |  | 37,344 |  |  |  | 900 |  |  |  |  |
Non-Vested at July 31, 2021 |  |  | 30,167 |  |  | $ | 773 |  |  |  | 2 |
Restricted Stock Units (RSUs) In May 2022, the Company issued a total of 67,500 RSUs to certain officers. The number of RSUs eligible to vest will be determined based on how the Company’s Total Shareholder Return (TSR) compares to that of a peer group of companies that comprise the Russell 2000 Index during the performance period ending December 31, 2024. The number of RSUs eligible to vest ranges from zero percent to two hundred percent, depending on actual performance during the performance period. For the three and six month period ended July 31, 2022, the Company recognized compensation cost of approximately $188,000 related to the RSUs.

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- 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 https://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 https://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 https://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 https://asc.fasb.org/topic&trid=2235017 + Details
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