Stock Options and Stock-based Compensation

9 Months Ended

Jan. 31, 2022

Equity [Abstract]

Stock Options and Stock-based Compensation

Stock Options and Stock-based Compensation

Under ASC 718, "Compensation-Stock Compensation," compensation costs related to stock options and other stock awards granted by the Company are charged against operating expenses during their vesting period.

In June 2021, the Company granted 5,500 RSUs under the 2017 Omnibus Incentive Plan ("2017 Plan"). These RSUs include a service component that vests over a two-year period. The Company also granted 51,471 RSUs under the 2017 Omnibus Incentive Plan in June 2021 that include a service component that vests over a three-year period. The recognized expense is

based upon the vesting period for service criteria. The Company recorded stock-based compensation expense during the three and nine months ended January 31, 2022 of $109,000 and $433,000, respectively, with the remaining estimated stock-based compensation expense of $907,000 to be recorded over the remaining vesting periods. The Company recorded stock-based compensation expense during the three and nine months ended January 31, 2021 of $129,000 and $344,000, respectively. Directors' fees paid with shares of common stock in lieu of cash in accordance with Director compensation guidelines were $41,000 for each of the nine month periods ended January 31, 2022 and January 31, 2021 and were also included in the stock-based compensation on the Condensed Consolidated Statements of Cash Flows.