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BENEFIT PLANS (Tables)

12 Months Ended

Apr. 30, 2025

BENEFIT PLANS

Schedule of net periodic pension cost

● Net periodic pension cost was comprised of the following components (in thousands):

​

​	​	​	​
​	​	Year Ended April 30,
​		2024
Interest cost on projected benefit obligation	​	$	6
Expected return on assets	​		(69)
Plan expenses	​		152
Recognized net actuarial loss	​		2
Net periodic pension cost	​	$	(91)
Settlement and related expenses	​	​	247
Net periodic pension cost after settlement	​	$	338

Schedule of assumptions used in determining net periodic pension cost and the pension benefit

​

​	​	​	​
​	​	Year Ended April 30,	​
​		2024
Discount rate used to determine net periodic pension cost		4.51	%
Discount rate used to determine pension benefit obligation		N/A	​
Expected long-term rate of return on assets used for pension cost on assets		7.75	%

Schedule of pension plan's benefit obligation and assets

The following table sets forth changes in the pension plan’s benefit obligation and assets, and summarizes components of amounts recognized in the Company’s balance sheet (in thousands):

​

​	​	​	​
​	​	April 30,
​		2024
Change in benefit obligation:		​
Benefit obligation at beginning of year	​	$	283
Service cost	​	​	152
Interest cost	​		6
Actuarial gain	​		(126)
Benefits paid	​		(315)
Benefit obligation at end of year	​	$	—
Change in plan assets:	​
Fair value of plan assets at beginning of year	​	$	1,030
Actual return on plan assets	​		(8)
Plan transfer	​	​	(547)
Benefits paid	​		(315)
Plan expenses	​		(160)
Fair value of plan assets at end of year	​	$	—
Funded status	​	$	—

Schedule of changes in accumulated other comprehensive income (loss) related to the pension plan

The following table summarizes the changes in accumulated other comprehensive income (loss) related to the pension plan for the years ended April 30, 2025 and 2024 (in thousands):

​

​	​	​	​	​	​	​
​	​	Pension Benefits
​		Pretax			Net of Tax
Accumulated comprehensive income (loss), May 1, 2023	​	$	138	​	$	(1,170)
Net actuarial gain	​		(2)	​	​	—
Amortization of net loss	​		111	​	​	78
Settlement	​	​	(247)	​	​	(138)
Accumulated comprehensive loss, April 30, 2024	​	$	—	​	$	(1,230)
Reclassification of the balance of accumulated other comprehensive income (loss) to a benefit for income taxes	​	​	—	​	​	1,230
Accumulated comprehensive income (loss), April 30, 2025	​	$	—	​	$	—

Schedule of restricted share award activity

​

​	​	​	​	​	​
​	​	​	​	Weighted Average
​	​	Number of	​	Grant Date Fair Value
Restricted share awards		Shares		Per Share
Non-vested as of May 1, 2023		26,267	​	​	10.53
Granted during 2024		16,400	​		19.23
Vested during 2024		(12,199)	​		9.68
Forfeited during 2024		—	​	​	—
Non-vested as of April 30, 2024		30,468	​	​	15.55
Granted during 2025		16,140	​		21.79
Vested during 2025		(14,666)	​		14.27
Forfeited during 2025		—	​	​	—
Non-vested as of April 30, 2025	​	31,942	​	​	19.29

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets.

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Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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