Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v3.22.1
Stock Based Compensation
3 Months Ended
Apr. 30, 2022
Stock Based Compensation [Abstract]  
Stock Based Compensation
Note 8. Stock Based Compensation

The Company has outstanding awards under three employee stock award plans, the 2005 Long Term Incentive and Share Award Plan, the Amended and Restated 2005 Long Term Incentive and Share Award Plan (the “Old Plans”); and the 2005 Long Term Incentive and Share Award Plan (as amended and restated April 5, 2017 (the “New Plan”). Collectively, these plans are referred to herein as the Stock Award Plans. The Company no longer issues stock options under the Old Plans.
Equity awards authorized for issuance under the New Plan total 250,000. As of April 30, 2022, of the awards authorized for issuance under the Stock Award Plans, 111,279 options were granted and are outstanding, 28,163 of which were vested and exercisable. Shares available for future grants of options and other share-based awards under the New Plan at April 30, 2022 were 144,346.

The following table summarizes stock award activity during the thirteen weeks ended April 30, 2022:

 
Employee Stock Award Plans
   
Number of
Shares
Subject To
Option
   
Weighted Average Exercise
Price
   
Weighted Average Remaining Contractual Term
   

Other
Share
Awards (1)
   
Weighted
Average
Grant Fair
Value
 
Balance January 29, 2022
   
85,965
   
$
13.41
     
7.5
      90,000
    $ 15.39  
Granted
   
15,000
     
6.55
     
9.9
      -       -  
Forfeited
   
(17,880
)
   
6.50
     
9.1
      (55,000 )     13.63  
Canceled
   
(6,806
)
   
28.58
     
-
      -       -  
Exercised
   
-
     
-
     
-
      -       -  
Balance April 30, 2022
   
76,279
   
$
11.04
     
7.1
      35,000     $ 18.14  
Exercisable April 30, 2022
   
28,163
   
$
17.07
     
4.4
      -     $ -  

 (1) Other Share Awards include deferred shares granted to executives and directors.

As of April 30, 2022, the intrinsic value of stock awards outstanding was $16,970 and the intrinsic value of stock awards exercisable was $15,110.