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Employee Benefits | 3 Months Ended
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Jul. 31, 2025
Disclosure Text Block Supplement [Abstract] |
Compensation and Employee Benefit Plans [Text Block] | 11. 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 2022, the Company had only granted restricted stock awards. In May 2022, the Company issued restricted stock units to certain officers of the Company which vested based on the Company’s TSR compared to the TSRs of companies that comprise the Russell 2000 Index over a three-year performance period (see below). The Company measures share-based compensation grants at fair value on the grant date, adjusted for estimated forfeitures. The Company records non-cash 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, 2025, 1,005,881 shares remain available for issuance under the Plan. Restricted Stock Awards As a component of their compensation, restricted stock has been granted to directors and certain employees at the closing market price of REX common stock on the grant date. In addition, one quarter 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. Based on retirement eligibility provisions, a portion of restricted stock grants are expensed at grant date, based on grant date fair value, thus considered vested for accounting purposes. At July 31, 2025, 22,276 shares were unvested for accounting purposes and unrecognized compensation cost related to these nonvested restricted stock awards was approximately $917,000, to be recognized over a weighted average vesting term of 2.3 years. The following tables summarize legally unvested restricted stock award activity for the periods presented:
|  | Six Months Ended July 31, 2025 |
|  | Shares |  |  | Weighted Average Grant Date Fair Value (000’s) |  |  | Weighted Average Remaining Vesting Term (in years) |
Unvested at January 31, 2025 |  |  | 162,392 |  |  | $ | 6,190 |  |  |  | 2 |
Granted |  |  | 59,928 |  |  |  | 2,860 |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |
Vested |  |  | 82,210 |  |  |  | 2,946 |  |  |  |  |
Unvested at July 31, 2025 |  |  | 140,110 |  |  | $ | 6,104 |  |  |  | 2 |
|  | Six Months Ended July 31, 2024 |
|  | Shares |  |  | Weighted Average Grant Date Fair Value (000’s) |  |  | Weighted Average Remaining Vesting Term (in years) |
Unvested at January 31, 2024 |  |  | 162,855 |  |  | $ | 5,369 |  |  |  | 2 |
Granted |  |  | 63,407 |  |  |  | 2,894 |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |
Vested |  |  | 63,870 |  |  |  | 2,073 |  |  |  |  |
Unvested at July 31, 2024 |  |  | 162,392 |  |  | $ | 6,190 |  |  |  | 2 |
Restricted Stock Units In May 2022, the Company issued a total of 67,500 RSUs to certain officers with a performance period that ended on December 31, 2024. The number of RSUs eligible to vest ranged from zero percent to two-hundred percent and was determined based on how the Company’s TSR compared to the TSR of companies that comprised the Russell 2000 Index during the performance period. The calculated payout of the RSUs that vested was 148%, or 99,900 shares of REX common stock, and the shares were issued on February 26, 2025. The Company did not recognize any compensation cost related to RSUs in the three- or six-month periods ended July 31, 2025. The Company recognized compensation cost related to RSUs of approximately $0.3 million and $0.5 million in the three- and six-month periods ended July 31, 2024, respectively. For the three- and six-month periods ended July 31, 2024, we calculated the diluted weighted average shares as follows (amounts in thousands):
|  | Three Months Ended July 31, 2024 |  | Six Months Ended July 31, 2024
Weighted average shares – basic |  |  | 17,548 |  |  |  | 17,528 |
Dilutive effect of RSUs |  |  | 123 |  |  |  | 120 |
Weighted average shares – diluted |  |  | 17,671 |  |  |  | 17,648 |

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/712/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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