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Share-Based Compensation | 3 Months Ended
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Apr. 30, 2026
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation | Note 14 – Share-Based Compensation We have one equity incentive plan from which we are authorized to grant equity awards, the AstroNova, Inc. 2018 Equity Incentive Plan (the “2018 Plan”). The 2018 Plan provides for, among other things, the issuance of awards, including incentive stock options, non-qualified stock options, stock appreciation rights, time-based restricted stock units (“RSUs”), or performance-based restricted stock units (“PSUs”) and restricted stock awards (“RSAs”). The 2018 Plan authorizes the issuance of up to 1,550,000 shares of common stock, plus an additional number of shares equal to the number of shares subject to awards granted under our prior 2015 Equity Incentive Plan that are forfeited, canceled, satisfied without the issuance of stock, otherwise terminated (other than by exercise), or, for shares of stock issued pursuant to any unvested award, that are reacquired by us at not more than the grantee’s purchase price (other than by exercise). Under the 2018 Plan, all awards to employees generally have a minimum vesting period of one year. Options granted under the 2018 Plan must be issued at an exercise price of not less than the fair market value of our common stock on the date of grant and expire after ten years. Under the 2018 Plan, there were 452,361 unvested RSUs; 103 unvested PSUs; and options to purchase an aggregate of 146,500 shares outstanding as of April 30, 2026. In addition to the 2018 Plan, we previously granted equity awards under our 2015 Equity Incentive Plan (the “2015 Plan”) and our 2007 Equity Incentive Plan (the “2007 Plan”). No new awards may be issued under either the 2007 Plan or 2015 Plan, but outstanding awards will continue to be governed by those plans. As of April 30, 2026, options to purchase an aggregate of 65,349 shares were outstanding under the 2007 Plan and options to purchase an aggregate of 52,000 shares were outstanding under the 2015 Plan. We also have a Non-Employee Director Annual Compensation Program (the “Program”) under which each non-employee director receives an automatic grant of RSAs on the date of the regular full meeting of the Board of Directors held each fiscal quarter. Under the Program, the number of whole shares to be granted each quarter is equal to 25% of the number calculated by dividing the director’s annual compensation amount by the fair market value of our stock on such day. The director’s annual compensation amount for RSAs is $72,800. Beginning in the second quarter of fiscal 2026, the Board of Directors elected to receive their annual cash compensation entirely in stock, issued as RSAs based on the closing stock price at each quarterly meeting. The amount of annual cash compensation varies by director based on the positions held on the Board. All RSAs granted under the Program vest immediately. Share-based compensation expense was recognized as follows:
|  | Three Months Ended |  |
(In thousands) |  | April 30, 2026 |  |  | April 30, 2025 |  |
Restricted Stock Awards and Restricted Stock Units |  |  | 564 |  |  |  | 281 |  |
Stock-Settled Performance Awards |  |  | (175 | ) |  |  | — |  |
Employee Stock Purchase Plan |  |  | — |  |  |  | 25 |  |
Total |  | $ | 389 |  |  | $ | 306 |  |
Stock Options Aggregated information regarding stock option activity for the three months ended April 30, 2026, is summarized below:
|  | Number of Options |  |  | Weighted Average Exercise Price |
Outstanding at January 31, 2026 |  |  | 319,049 |  |  | $ | 15.57 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | (650 | ) |  |  | 12.85 |
Forfeited |  |  | — |  |  |  | — |
Cancelled |  |  | (54,550 | ) |  |  | 15.10 |
Outstanding at April 30, 2026 |  |  | 263,849 |  |  | $ | 15.68 |
Below is a summary of options outstanding at April 30, 2026:
Outstanding |  |  | Exercisable |
Range of Exercise prices |  | Number of Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Life |  |  | Number of Shares |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Life |
$10.01-15.00 |  |  | 124,974 |  |  | $ | 12.90 |  |  |  | 2.5 |  |  |  | 124,974 |  |  | $ | 12.90 |  |  |  | 2.5 |
$15.01-20.00 |  |  | 138,875 |  |  | $ | 18.18 |  |  |  | 1.2 |  |  |  | 138,875 |  |  | $ | 18.18 |  |  |  | 1.2 |
|  |  | 263,849 |  |  | $ | 15.68 |  |  |  | 1.8 |  |  |  | 263,849 |  |  | $ | 15.68 |  |  |  | 1.8 |
There were no stock options granted during the first three months of fiscal 2026 or 2027, and as of April 30, 2026, there was no unrecognized compensation expense related to stock options. Restricted Stock Units (RSUs), Performance-Based Stock Units (PSUs) and Restricted Stock Awards (RSAs) Aggregated information regarding RSU, PSU and RSA activity for the three months ended April 30, 2026, is summarized below:
|  | RSUs, PSUs & RSAs |  |  | Weighted Average Grant Date Fair Value |
Outstanding at January 31, 2026 |  |  | 491,532 |  |  | $ | 11.19 |
Granted |  |  | 61,993 |  |  |  | 9.72 |
Vested |  |  | (78,934 | ) |  |  | 10.61 |
Forfeited |  |  | (22,127 | ) |  |  | 11.64 |
Outstanding at April 30, 2026 |  |  | 452,464 |  |  | $ | 11.06 |
As of April 30, 2026, there was approximately $3.9 million of unrecognized compensation expense related to RSUs, PSUs and RSAs, which is expected to be recognized over a weighted average period of 2.3 years. Long-Term Incentive Program In June 2025 and February 2026, the Human Capital and Compensation Committee of our Board of Directors approved the 2026 and 2027 Senior Executive Long-Term Incentive Programs (the “2026 LTIP” and “2027 LTIP,” respectively, and collectively, the “2026 and 2027 LTIPs”). Each program provides for the grant of stock-settled performance awards (“SSPAs”) to senior executives with a fixed grant-date value. The SSPAs will be settled in a variable number of shares of common stock or in cash, at the Company's election, based on the achievement of specified Company performance goals for fiscal 2028 under the 2026 LTIP and fiscal 2029 under the 2027 LTIP, with settlement occurring subsequent to the respective performance periods. Any shares issued under these programs will be issued pursuant to the Company’s 2018 Equity Incentive Plan. We record share-based compensation expense related to the 2026 and 2027 LTIPs over the service period of eligible employees based on forecasted performance relative to the Company metrics. To the extent that updated estimates differ from original estimates, the cumulative effect on current and prior periods of those changes is recorded in the period those estimates are revised. At January 31, 2026, we recognized a $241,000 accrued liability for the 2026 LTIP. For the three months ended April 30, 2026, we recorded a $175,000 share-based compensation benefit under the 2026 and 2027 LTIPs, based on adjustments to expected performance relative to the Company’s target metrics. An accrued liability for the 2026 and 2027 LITPs of $66,000 is reported as other long-term liabilities in the accompanying condensed consolidated balance sheet for the period ended April 30, 2026.

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