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Stockholders’ Equity
 12 Months Ended
Oct. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Series A Junior Participating Preferred Stock
The Company has 20,000 shares of preferred stock authorized as Series A Junior Participating Preferred Stock at $0.01 par value (the “Series A Stock”). No shares are issued or outstanding.
Stock-based Compensation
The Company has a stock-based compensation plan (the “Stock Plan”) that allows for the grant of restricted common stock of the Company to members of management, key executives and non-employee directors. The fair value of such awards is based on the fair value of the Company’s stock on the date of grant, and all are classified as equity awards. The Stock Plan had 843,925 remaining shares available to be issued as of October 31, 2025.
Management Performance Awards
Certain time-based restricted stock grants are made to management under the Stock Plan and generally vest over a three-year period as service is provided. In November 2024, 20,555 shares of restricted stock with a per share price of $25.54 were granted to management. The related compensation expense of $525,000 will be recognized over three years as the shares vest. In December 2024, 6,194 shares of restricted stock with a per share price of $26.30 were granted to management. The related compensation expense of $163,000 will be recognized over three years as the shares vest. In October 2025, 10,992 shares of restricted stock with a per share price of $14.13 were granted to management and vested upon issuance. The related compensation expense of $155,000 was recognized in fiscal year 2025.
In fiscal years 2024 and 2025, the Company entered into Performance Share-Based Award Agreements with members of management whereby the employees may be granted shares of common stock in the future based on the achievement of certain long-term performance goals over a three-year period. As of October 31, 2025, the maximum number of potential shares to be awarded is 95,324 shares. The Company recorded $50,000 of stock compensation expense during fiscal year 2025, based on the awards probable of vesting.
Executive Awards
Certain time-based restricted stock grants are made to key executives under the Stock Plans and generally vest over a three-year period as service is provided. In November 2024, 29,366 shares of restricted stock with a per share price of $25.54 were granted to key executives. The related compensation expense of $750,000 will be recognized equally over the next three years as the shares vest.
19. Stockholders’ Equity (continued)
Stock-based Compensation (continued)
Executive Awards (continued)
In fiscal year 2022, the Company entered into Retention Bonus Agreements with key executives (collectively, the “Retention Bonus Agreements”) whereby the executives are eligible to receive cash and restricted stock grants. During December 2024, the Company granted 2,972 shares of restricted stock with a per share price of $26.30 to key executives related to the Retention Bonus Agreements. The related compensation expense of $78,000 will be recognized over the next year as the shares vest.
In fiscal years 2024 and 2025, the Company entered into Performance Share-Based Award Agreements with key executives whereby the executives may be granted shares of common stock in the future based on the achievement of certain long-term performance goals over a three-year period. As of October 31, 2025, the maximum number of potential shares to be awarded is 164,889 shares. The Company recorded $182,000 of stock compensation expense during fiscal year 2025, based on the awards probable of vesting.
Director Awards
Certain time-based restricted stock grants are made on an annual basis to non-employee directors under the Stock Plan and generally vest after a one-year period as service is provided. During April 2025, 30,540 shares were granted as Director Awards with a per share price of $16.70.
Summary of Awards
A summary of the Performance, Executive, and Director Awards granted under the Stock Plan, and the weighted average grant prices, during the fiscal years ended October 31, is as follows:
202520242023
Number of SharesWeighted-Average Grant PriceNumber of SharesWeighted-Average Grant PriceNumber of SharesWeighted-Average Grant Price
Performance Awards37,741 $22.34 76,236 $19.80 79,972 $13.19 
Executive Awards32,338 $25.61 106,713 $17.18 193,381 $14.87 
Director Awards30,540 $16.70 27,087 $19.28 22,836 $16.26 
Total100,619 $21.68 210,036 $18.40 296,189 $14.52 
The Company recognized $3,077,000, $4,116,000 and $3,841,000 of stock-based compensation for fiscal years 2025, 2024 and 2023, respectively, of which the majority of the expense is included in selling, general and administrative expenses for all years presented. Forfeitures are accounted for in the period that the forfeiture occurs. The income tax benefit recognized in the income statement for stock-based compensation arrangements was $957,000, $1,451,000 and $1,075,000 for fiscal years 2025, 2024 and 2023, respectively. The total fair value of shares vested was $3,798,000, $3,976,000 and $1,323,000 for fiscal years 2025, 2024 and 2023, respectively. The Company has unrecognized stock-based compensation expense of $1,036,000 as of October 31, 2025, which is expected to be recognized over the next one to two years as the shares vest. All unvested shares are expected to vest.
Exchange of Common Stock
During fiscal years 2025, 2024 and 2023 members of management exchanged 96,899, 117,897 and 39,472 shares of common stock with fair values of $1,955,000, $2,313,000 and $567,000, respectively, at the dates of the exchanges, for the payment of payroll taxes associated with the vesting of shares under the Company’s stock-based compensation programs.
19. Stockholders’ Equity (continued)
Stock-based Compensation (continued)
Summary of Nonvested Shares
A summary of the status of the Company’s nonvested shares as of October 31, 2025, and changes during fiscal year 2025, is presented below:
Number of SharesWeighted-Average
Grant Price
Nonvested at October 31, 2024260,147 $17.16 
Granted100,619 $21.68 
Vested(216,394)$17.55 
Nonvested at October 31, 2025144,372 $19.72 
Dividend
On December 16, 2025, the Company declared a cash dividend of $0.075 per common share payable on January 16, 2026, in the aggregate amount of $1,360,000 to common stockholders of record as of December 30, 2025.
Treasury Stock
Share Repurchase Program
In March 2025, the Company’s Board of Directors approved a share repurchase program authorizing the Company to purchase up to $30,000,000 of its shares of outstanding common stock. The share repurchase program may be modified, suspended or discontinued at any time and does not commit the Company to repurchase any shares. No shares have been repurchased under this program.