Stock-Based Compensation (Tables)

As of October 31, 2022, the following stock-based awards, by award type, were outstanding:


			October 31, 2022
Stock options			474,020
Performance shares			665,586
RSUs, restricted stock and share units			936,382


Total			2,075,988

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,
		2022		2021
Cost of sales		$	158,000	73,000
Selling, general and administrative expenses		648,000		772,000
Research and development expenses		98,000		76,000
Stock-based compensation expense before CEO transition costs		904,000		921,000
CEO transition costs related to equity-classified stock-based awards		3,764,000		—
Total stock-based compensation expense before income tax benefit		4,668,000		921,000
Estimated income tax benefit		(493,000)		(193,000)
Net stock-based compensation expense		$	4,175,000	728,000

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


	Three months ended October 31,
		2022		2021
Stock options		$	25,000	78,000
Performance shares		74,000		349,000
RSUs, restricted stock and share units		774,000		439,000
ESPP		31,000		55,000

Stock-based compensation expense before CEO transition costs		904,000		921,000
CEO transition costs related to equity-classified stock-based awards		3,764,000		—
Total stock-based compensation expense before income tax benefit		4,668,000		921,000
Estimated income tax benefit		(493,000)		(193,000)
Net stock-based compensation expense		$	4,175,000	728,000

The following table summarizes the Plan’s activity:


	Awards (in Shares)	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at July 31, 2022	483,480	$	24.43

Expired/canceled	(9,460)	26.55








Outstanding at October 31, 2022	474,020	$	24.38	2.70	$	—

Exercisable at October 31, 2022	428,900	$	25.07	2.19	$	—

Vested and expected to vest at October 31, 2022	471,742	$	24.42	2.67	$	—

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, 2022	1,110,750	$	19.05
Granted	785,092	11.13
Settled	(256,069)	24.55
Canceled/Forfeited	(37,805)	16.44








Outstanding at October 31, 2022	1,601,968	$	14.35	$	17,702,000

Vested at October 31, 2022	532,533	$	15.68	$	5,884,000

Vested and expected to vest at October 31, 2022	1,547,797	$	14.33	$	17,103,000