Stockholders' Equity

6 Months Ended

Jan. 31, 2018

14.

Stockholders’ Equity

Under the Company’s restricted stock unit (“RSU”) program, as discussed in Note 16 in the Notes to the Consolidated Financial Statements in our fiscal 2017 Form 10-K, RSU awards have been approved each October related to the financial performance of the most recently completed fiscal year since October 2012. The awarded employee restricted stock units vest, and shares of common stock are issued, in equal installments on the first, second and third anniversaries of the date of grant. In addition, concurrent with the timing of the employee awards, the Nominating and Governance Committee of the Board of Directors (“Board”) has awarded restricted stock units to Board members that will vest, and shares of common stock will be issued, on the first anniversary of the date of the grant.

Total expense recognized in the three-month periods ended January 31, 2018 and January 31, 2017 for these restricted stock unit awards and other stock-based compensation was $4,413 and $3,154, respectively. Total expense recognized in the six-month periods ended January 31, 2018 and January 31, 2017 for these restricted stock unit awards and other stock-based compensation was $8,731 and $5,892, respectively.

For the restricted stock units that vested during the six-month periods ended January 31, 2018 and January 31, 2017, portions of the vested shares awarded were withheld as treasury shares to cover the recipients’ estimated withholding taxes. Tax payments made by the Company related to these stock-based awards for the six months ended January 31, 2018 and January 31, 2017 totaled $7,657 and $4,572, respectively.