XML 22 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Note 2 - Stock Compensation
 3 Months Ended
Jan. 31, 2024
Stock Compensation  
Stock Compensation

2.

Stock Compensation

 

During the first quarter of fiscal 2024, the Board of Directors ("the Board") approved certain grants under a new Long-Term Incentive Program (the “2024 LTIP”) that contain performance-based vesting conditions. The performance period for the 2024 LTIP commenced on November 1, 2023 and will end on October 31, 2026. 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 months ended January 31, 2024 and 2023, stock-based compensation expense was $4.1 million ($3.0 million net of tax) and $2.1 million (pre and post-tax), respectively.