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STOCK COMPENSATION AND OTHER BENEFIT PLANS
 12 Months Ended
Oct. 31, 2022
STOCK COMPENSATION AND OTHER BENEFIT PLANS [Abstract]  
STOCK COMPENSATION AND OTHER BENEFIT PLANS
(9) STOCK COMPENSATION AND OTHER BENEFIT PLANS

Restricted Stock Plan
The Company has a Restricted Stock Plan, as amended (the "Plan") that provides a form of equity compensation for employees of the Company.  The Plan, which is administered by the Company's compensation committee, authorizes grants of up to an aggregate of 5,500,000 shares of the Company’s common equity consisting of 350,000 Common shares, 350,000 Class A Common shares and 4,800,000 shares, which at the discretion of the compensation committee, may be awarded in any combination of Class A Common shares or Common shares.

In fiscal 2022, the Company awarded 109,500 shares of Common Stock and 149,000 shares of Class A Common Stock to participants in the Plan. The grant date fair value of restricted stock grants awarded to participants in 2022 was approximately $5.2 million. As of October 31, 2022, there was $12.4 million of unamortized restricted stock compensation related to non-vested restricted stock grants awarded under the Plan. The remaining unamortized expense is expected to be recognized over a weighted average period of 4.6 years. For the years ended October 31, 2022, 2021 and 2020, amounts charged to compensation expense totaled $3,657,000, $3,938,000 and $5,523,000, respectively. The year ended October 31, 2020 amount charged to compensation expense includes $1.4 million related to the accelerated vesting of previously unamortized restricted stock compensation as the result of the death of our Chairman Emeritus, Charles J. Urstadt, in March 2020.

A summary of the status of the Company's non-vested restricted stock awards as of October 31, 2022, and changes during the year ended October 31, 2022 is presented below:

 
Common Shares
    
Class A Common Shares
  
   
Shares
    
Weighted-Average
Grant Date Fair Value
    
Shares
    
Weighted-Average
Grant Date Fair Value
  
Non-vested at October 31, 2021
    
927,800
    
$
17.08
      
521,700
    
$
20.12
  
Granted
    
109,500
    
$
18.47
      
149,000
    
$
21.32
  
Vested
    
(103,100
)
  
$
18.30
      
(87,100
)
  
$
23.45
  
Forfeited
    
-
    
$
-
      
(36,300
)
  
$
19.49
  
Non-vested at October 31, 2022
    
934,200
    
$
17.11
      
547,300
    
$
19.96
  

Profit Sharing and Savings Plan
The Company has a profit sharing and savings plan (the "401K Plan"), which permits eligible employees to defer a portion of their compensation in accordance with the Internal Revenue Code. Under the 401K Plan, the Company made contributions on behalf of eligible employees. The Company made contributions to the 401K Plan of approximately $277,000, $267,000 and $253,000 in each of the three years ended October 31, 2022, 2021 and 2020, respectively. The Company also has an Excess Benefit and Deferred Compensation Plan that allows eligible employees to defer benefits in excess of amounts provided under the Company's 401K Plan and a portion of the employee's current compensation.