Stock-Based Compensation (Tables)

As of October 31, 2017, the following stock-based awards, by award type, were outstanding:

Stock-based compensation for awards issued is reflected in the following line items in our Condensed Consolidated Statements of Operations:



	Three months ended October 31,
	2017			2016
Cost of sales	$	40,000		48,000
Selling, general and administrative expenses	654,000			851,000
Research and development expenses	53,000			71,000
Stock-based compensation expense before income tax benefit	747,000			970,000
Estimated income tax benefit	(260,000		)	(341,000	)
Net stock-based compensation expense	$	487,000		629,000

Stock-based compensation expense (benefit), by award type, is summarized as follows:



	Three months ended October 31,
	2017			2016
Stock options	$	267,000		246,000
Performance shares	112,000			494,000
RSUs and restricted stock	385,000			188,000
ESPP	45,000			42,000
Share units	(62,000		)	—
Stock-based compensation expense before income tax benefit	747,000			970,000
Estimated income tax benefit	(260,000		)	(341,000	)
Net stock-based compensation expense	$	487,000		629,000

The following table summarizes the Plan's activity during the three months ended October 31, 2017:



	Awards (in Shares)		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at July 31, 2017	1,855,875		$	28.60
Expired/canceled	(41,040	)	28.97
Outstanding at October 31, 2017	1,814,835		$	28.59	5.32	$	6,000

Exercisable at October 31, 2017	1,368,086		$	28.62	4.80	$	1,000

Vested and expected to vest at October 31, 2017	1,768,467		$	28.57	5.27	$	6,000

The following table summarizes the Plan's activity relating to performance shares, RSUs, restricted stock and share units:



	Awards (in Shares)		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at July 31, 2017	830,197		$	16.95
Granted	307,194		18.25
Settled	(100,321	)	20.67
Forfeited	(61,520	)	18.88
Outstanding at October 31, 2017	975,550		$	16.86	$	20,984,000

Vested at October 31, 2017	309,853		$	17.55	$	6,665,000

Vested and expected to vest at October 31, 2017	941,258		$	16.87	$	20,246,000