Equity incentive plan

9 Months Ended

Jul. 31, 2022

Share-Based Payment Arrangement [Abstract]

Equity incentive plan

Note 13 – Equity Incentive Plan:

As of July 31, 2022, 442,060 shares are available for issuance under the FREIT Equity Incentive Plan (the “Plan”).

The following table summarizes stock option activity for the nine and three-month periods ended July 31, 2022 and 2021:

	Nine and Three Months Ended July 31, 2022				Nine and Three Months Ended July 31, 2021
	No. of Options		Weighted Average		No. of Options		Weighted Average
	Outstanding		Price		Outstanding		Price
Options outstanding at beginning of period		310,740	$	18.35		310,740	$	18.35
Options granted during period		-		-		-		-
Options forfeited/cancelled during period		-		-		-		-
Options outstanding at end of period		310,740	$	18.35		310,740	$	18.35
Options vested and expected to vest		309,450				308,310
Options exercisable at end of period		301,140				284,940

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For the nine and three month periods ended July 31, 2022, compensation expense related to stock options vested amounted to approximately $15,000 and $5,000, respectively. For the nine and three month periods ended July 31, 2021, compensation expense related to stock options vested amounted to approximately $35,000 and $11,000, respectively. At July 31, 2022, there was approximately $16,000 of unrecognized compensation cost relating to outstanding non-vested stock options to be recognized over the remaining weighted average vesting period of approximately 0.9 years. The aggregate intrinsic value of options vested and expected to vest and options exercisable at July 31, 2022 was approximately $1,901,000 and $1,825,000, respectively.