Stock-Based Compensation (Tables)
|
6 Months Ended |
Apr. 30, 2025 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Nonvested Restricted Share Activity |
A summary of non-vested restricted stock awards activity during the six months ended April 30, 2025 is presented below: | | | | | | | | | | | | | Restricted Stock Awards | | Weighted-Average
Grant Date Fair Value per Share | | Non-vested at October 31, 2024 | 236,800 | | | $ | 25.85 | | | Granted | 104,000 | | | 29.51 | | | | | | | Vested | (84,100) | | | 22.95 | | | Non-vested at April 30, 2025 | 256,700 | | | $ | 28.28 | |
|
| Schedule of Stock Option Activity |
The following table summarizes our stock option activity for the six months ended April 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Stock Options | | Weighted-Average
Exercise Price | | Weighted-Average
Remaining Contractual
Term (in years) | | Aggregate
Intrinsic
Value (000s) | | Outstanding at October 31, 2024 | 78,250 | | | $ | 19.45 | | | | | | | | | | | | | | | Exercised | (9,300) | | | 19.97 | | | | | | | | | | | | | | | Outstanding at April 30, 2025 | 68,950 | | | $ | 19.38 | | | 1.1 | | $ | — | | | Vested at April 30, 2025 | 68,950 | | | $ | 19.38 | | | 1.1 | | $ | — | | | Exercisable at April 30, 2025 | 68,950 | | | $ | 19.38 | | | 1.1 | | $ | — | |
|
| Schedule of Performance Share Awards |
The following table summarizes our performance share grants and the grant date fair value for the performance metrics: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Grant Date | | Shares Awarded | | Grant Date Fair Value | | Shares Forfeited | | | | | | | | | | | | | | | | December 7, 2022 | | 89,300 | | | $ | 23.49 | | | 4,600 | | | December 7, 2023 | | 72,200 | | | $ | 32.15 | | | — | | | December 4, 2024 | | 88,900 | | | $ | 29.75 | | | — | | | March 1, 2025 | | 3,000 | | | $ | 18.89 | | | — | |
|
| Schedule of Performance Restricted Stock Vesting Conditions |
Specifically, the awards vest on a continuum with the following Absolute Total Shareholder Return (A-TSR) milestones: | | | | | | | | | | | | | | | | Vesting Level | | Vesting Criteria | | Percentage of Award Vested | | Level 1 | | A-TSR greater than or equal to 50% | | 150% | | Level 2 | | A-TSR less than 50% and greater than or equal to 20% | | 100% | | Level 3 | | A-TSR less than 20% and greater than or equal to -20% | | 50% | | Level 4 | | A-TSR less than -20% | | —% |
|
| Performance Restricted Stock Units by Grant |
| | | | | | | | | | | | | | | | | | | | | | Grant Date | | Shares Awarded | | Grant Date Fair Value | | Shares Forfeited | | | | | | | | | | | | | | | | December 7, 2022 | | 51,500 | | | $ | 23.22 | | | 3,100 | | | December 7, 2023 | | 40,700 | | | $ | 30.35 | | | — | | | December 4, 2024 | | 50,900 | | | $ | 29.97 | | | — | | | March 1, 2025 | | 2,200 | | | $ | 18.89 | | | — | |
|
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The following table summarizes amounts expensed as selling, general and administrative expense related to restricted stock awards, stock options, restricted stock units, performance share awards and performance restricted stock units for the three and six months ended April 30, 2025 and 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | April 30, | | April 30, | | | 2025 | | 2024 | | 2025 | | 2024 | | Restricted stock awards | $ | 595 | | | $ | 502 | | | $ | 1,188 | | | $ | 819 | | | | | | | | | | | Restricted stock units | (540) | | | 352 | | | (659) | | | 1,776 | | | Performance share awards | 177 | | | 359 | | | 590 | | | 928 | | | Performance restricted stock units | 328 | | | 280 | | | 637 | | | 546 | | | Total compensation expense | $ | 560 | | | $ | 1,493 | | | $ | 1,756 | | | $ | 4,069 | | | | | | | | | | | | | | | | | |
|
| Treasury Stock Activity |
The following table summarizes the treasury stock activity during the six months ended April 30, 2025: | | | | | | | Six Months Ended | | | April 30, 2025 | | Beginning Balance as of November 1, 2024 | 4,014,431 | | | Restricted stock awards granted | (104,000) | | | Performance restricted stock units vested | (69,825) | | | Stock options exercised | (9,300) | | | Treasury stock repurchases | 1,409,407 | | | Balance at April 30, 2025 | 5,240,713 | |
|