XML 20 R10.htm IDEA: XBRL DOCUMENT v3.23.1
Note 2 - Stock Compensation
 6 Months Ended
Apr. 30, 2023
Notes to Financial Statements  
Share-Based Payment Arrangement [Text Block]

2.

Stock Compensation

 

During the first quarter of fiscal 2023, the Board of Directors approved certain grants under a new Long-Term Incentive Program (the “2023 LTIP”) that contain performance-based vesting conditions. The performance period for the 2023 LTIP commenced on November 1, 2022 and will end on October 31, 2025. At the end of the performance period, 50% of the awards, if any, are payable in cash-settled phantom shares and the remaining 50% of the awards, if any, are payable in shares of Company stock, subject to a mandatory two-year post-vesting hold period.

 

For the three and six months ended April 30, 2023, stock-based compensation expense was $2.2 million ($1.6 million net of tax) and $4.2 million ($3.5 million net of tax), respectively. For the three and six months ended April 30, 2022, stock-based compensation expense was $1.8 million ($1.4 million net of tax) and $3.4 million ($2.5 million net of tax), respectively. Included in stock-based compensation expense was $8 thousand and $16 thousand of stock option expense for the three and six months ended April 30, 2023, respectively, and $45 thousand and $90 thousand of stock option expense for the three and six months ended April 30, 2022, respectively.