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Preferred and Common Stock (Tables)
 12 Months Ended
Apr. 30, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Restricted Stock and Restricted Stock Unit Grants
The following table summarizes the equity-related grants made during the three-year period ended April 30, 2022:
Date of GrantType of GrantShares GrantedRecipientsVesting DateFair Value at Grant Date
June 4, 2019Restricted Stock Units75,959 Key EmployeesJune 4, 2022$9,886
June 4, 2019Restricted Stock Units (1)59,579 OfficersJune 4, 2022$9,097
June 24, 2019Restricted Stock Units (2)32,786 CEOVarious (2)$5,700
September 4, 2019Restricted Stock Units5,504 Non-Employee Board Members2020 Annual Shareholders' Meeting $919
December 23, 2019Restricted Stock Units (3)5,000 CEOVarious (3)$788
Fiscal 2020 -VariousRestricted Stock Units (4)8,444 OfficersVarious (4)$1,368
Fiscal 2020 -VariousRestricted Stock Units (5)1,763 OfficersVarious (5)$354
Fiscal 2021 -VariousRestricted Stock Units80,050 Key EmployeesVests ratably on anniversary date over three-year period$13,417
Fiscal 2021 -VariousRestricted Stock Units (6)94,756 OfficersVarious (6)$17,856
September 2, 2020Restricted Stock Units5,240 Non-Employee Board Members2021 Annual Shareholders' Meeting $951
Fiscal 2021 -VariousRestricted Stock Units (7)29,890 Key Employees and OfficersVarious (7)$5,153
May 3, 2021Restricted Stock Units5,053 OfficersJune 15, 2021$1,760
Fiscal 2022 -VariousRestricted Stock Units54,525 Key EmployeesVests ratably on anniversary date over three-year period$11,654
Fiscal 2022 -VariousRestricted Stock Units (6)88,224 OfficersVarious (6)$19,629
September 1, 2021Restricted Stock Units5,275 Non-Employee Board Members2022 Annual Shareholders' Meeting$1,081
Fiscal 2022 -VariousRestricted Stock Units (7)1,201 Key Employees and OfficersVarious (7)$227
(1) This grant of restricted stock units ("RSUs") includes time-based, performance-based and market-based awards. The performance-based awards represent a “target” amount; the final amount earned is based on the satisfaction of certain performance measures over a three-year performance period and will range from 0% to 200% of “target". Total performance-based expense of approximately $6.9 million (compared to a grant date fair value of $3.4 million) will be recognized on a straight-line basis over the vesting period, subject to acceleration for retirement provisions. The market-based awards incorporate market conditions in determining fair value as of the grant date, and will also range from 0% to 200% of "target".
Total market-based expense of approximately $2.8 million will be recognized on a straight-line basis over the vesting period, subject to acceleration for retirement provisions.
(2) This grant of RSUs includes time-based awards that vest ratably on each June 24, 2020 through 2022, along with a market-based award vesting June 24, 2022. The market-based award incorporates market conditions in determining fair value on the grant date and will range from 0% to 200% of target. Total market-based expense of approximately $1.8 million will be recognized on a straight-line basis over the vesting period.
(3) This grant of RSUs includes performance-based awards which are calculated based upon targets achieved over a performance period of January 1, 2020 to December 31, 2020. Now that the performance targets are met, the units vest ratably on each January 15, 2021 through 2023.
(4) These grants of RSUs were issued to various officers throughout the 2020 fiscal year. The grants were comprised of time-based awards and vest in accordance with the vesting schedules in the award agreements, ranging from January 2021 to January 2023.
(5) These grants of RSUs were issued to various officers throughout the 2020 fiscal year. The grants include performance-based and market-based awards. The performance-based awards represent a “target” amount; the final amount earned is based on the satisfaction of certain performance measures over a three-year performance period and will range from 0% to 200% of “target". Total performance-based expense of approximately $354 (compared to a grant date fair value of $177) will be recognized on a straight-line basis over the vesting period. The market-based awards incorporate market conditions in determining fair value as of the grant date, and will also range from 0% to 200% of "target". Total market-based expense of approximately $177 will be recognized on a straight-line basis over the vesting period.
(6) These grants of RSUs were issued to officers throughout the 2021 and 2022 fiscal years. The grants include time-based awards and performance-based awards. The time-based awards vest ratably over a three-year period commencing on the first anniversary of the grant date. The performance-based awards represent a “target” amount; the final amount earned is based on the satisfaction of certain performance measures over a three-year performance period and will range from 0% to 200% of “target". In addition, the performance-based award is subject to the TSR Modifier. Total performance-based expense of approximately $25.3 million for the 2021 grant and $14.0 million for the 2022 grant (compared to a grant date fair value of $13.9 million and $14.7 million, respectively) will be recognized on a straight-line basis over the vesting period, subject to acceleration for retirement provisions.
(7) These grants of RSUs were issued to officers and key employees throughout the 2021 and 2022 fiscal years. The grants include primarily time-based awards, as well as a performance-based award. The time-based awards vest in accordance with the vesting schedules in the award agreements, ranging from June 2021 to March 2024. The grants also include one performance-based award that represents a “target” amount; the final amount earned is based on the satisfaction of certain performance measures over a three-year performance period and will range from 0% to 200% of the “target". In addition, the performance-based award is subject to the TSR Modifier. Total performance-based expense of approximately $2.6 million (compared to a grant date fair value of $1.3 million) will be recognized on a straight-line basis over the vesting period, subject to acceleration for retirement provisions.
Schedule of Restricted Stock Units Award Activity
Information concerning the issuance of restricted stock units under the 2018 Plan is presented in the following table:
Unvested at April 30, 2019388,800 
Granted189,035 
Vested(108,484)
Forfeited(25,146)
Performance Award Adjustments29,594 
Unvested at April 30, 2020473,799 
Granted209,936 
Vested(154,842)
Forfeited(12,275)
Performance Award Adjustments130,302 
Unvested at April 30, 2021646,920 
Granted154,278 
Vested(242,955)
Forfeited(30,055)
Performance Award Adjustments(1,794)
Unvested at April 30, 2022526,394