The Company’s 2017 Stock Incentive Plan (the “2017 Plan”) authorized up to 10,000,000 common shares, which can be granted as restricted stock, RSU’s, PSU’s, incentive stock options, nonqualified stock options, SAR’s and stock grant awards. As of January 31, 2026, there were 3,585,413 common shares available to grant under the 2017 Plan.

The Company’s 2008 Stock Incentive Plan (the “2008 Plan”) authorized up to 10,000,000 common shares, which can be granted as RSU’s, unrestricted shares, incentive stock options, nonqualified stock options, PSU’s or SAR’s. As of January 31, 2026, there were 5,594,830 common shares available to grant under the 2008 Plan. Pursuant to the terms of the 2008 Plan, certain awards may not be granted after February 25, 2018. Awards under the 2017 Plan and the 2008 Plan generally expire seven or ten years from the date of grant, thirty days after termination of employment or six months after the date of death or termination due to disability of the grantee.

The Company elects to account for forfeitures as they occur rather than estimate the expected forfeitures.

Share-based compensation expense, included in “Selling, general and administrative expenses” in the Consolidated Statements of Income, for the fiscal years ended January 31, 2026, 2025 and 2024 was as follows:


	Fiscal Year Ended January 31,
	2026		2025		2024
Performance Stock Units		4,649		4,796		5,013
Restricted Stock Units		25,759		26,243		25,495
Total	$	30,408	$	31,039	$	30,508

The total tax benefit associated with share-based compensation expense for fiscal 2026, 2025 and 2024 was $7,184, $7,204 and $3,086, respectively. The tax benefit realized from share-based compensation for fiscal 2026, 2025 and 2024 was $11,033, $7,846 and $1,763, respectively.

The Company may grant stock options that generally vest over a period of one year. Stock options become exercisable over the vesting period in installments determined by the Company, which can vary depending upon each individual grant. There were no stock options granted in fiscal 2026, 2025 or 2024.

The following table summarizes the Company’s stock option activity for the fiscal year ended January 31, 2026:


	Shares			Weighted- Average Exercise Price		Weighted- Average Contractual Terms (years)		Aggregate Intrinsic Value
Awards outstanding at beginning of year		80,000		$	35.08		0.8	$	1,627
Granted		—			—
Exercised		(60,000	)		38.86
Forfeited or Expired		—			—
Awards outstanding at end of year		20,000			23.74		0.3	$	942
Awards outstanding fully vested and expected to vest		20,000			23.74		0.3	$	942
Awards exercisable at end of year		20,000		$	23.74		0.3	$	942

The following table summarizes other information related to stock options during the years ended January 31, 2026, 2025 and 2024:


	Fiscal Year Ended January 31,
	2026		2025		2024
Intrinsic value of awards exercised	$	2,014	$	1,277	$	129
Net cash proceeds from the exercise of stock options	$	928	$	851	$	594

There were no unrecognized compensation costs of stock options granted, but not yet vested, as of January 31, 2026.

The Company may grant PSU’s that vest based on the achievement of various company performance targets and external market conditions. The fair value of the PSU’s awarded during fiscal 2026, 2025 and 2024 equaled the stock price on the date of the grant. The Company makes certain estimates about the number of awards that will vest. Once the Company determines that it is probable that the performance targets will be met, compensation expense is recorded for these awards. If any of these performance targets are not met, the awards are forfeited. Each PSU is equal to one common share with varying maximum award value limitations. PSU’s typically vest over a two to four-year period.

The following table summarizes the Company’s PSU activity for the fiscal year ended January 31, 2026:


	Shares			Weighted- Average Fair Value
Non-vested awards outstanding at beginning of year		451,154		$	31.90
Granted		84,051			56.77
Vested		(180,713	)		30.88
Forfeited		—			—
Non-vested awards outstanding at end of year		354,492		$	38.31

The weighted-average grant date fair value of PSU’s awarded during fiscal 2026, 2025 and 2024 was $56.77, $41.92 and $26.96, per share, respectively. The aggregate grant date fair value of PSU's vested during fiscal 2026, 2025 and 2024 was $30.88, $31.26 and $33.01, respectively. Unrecognized compensation cost related to unvested PSU’s as of January 31, 2026 was $5,096, which is expected to be recognized over a weighted-average period of 1.9 years.

The Company may grant RSU’s that vest based on the achievement of specified service conditions. The fair value of the RSU’s awarded during fiscal 2026, 2025 and 2024 equaled the stock price on the date of the grant. RSU’s typically vest over a two to four-year period.

The following table summarizes the Company’s RSU activity for the fiscal year ended January 31, 2026:


	Shares			Weighted- Average Fair Value
Non-vested awards outstanding at beginning of year		2,450,820		$	31.88
Granted		542,860			57.97
Vested		(906,598	)		30.07
Forfeited		(116,471	)		38.08
Non-vested awards outstanding at end of year		1,970,611		$	39.54

The weighted-average grant date fair value of RSU’s awarded during fiscal 2026, 2025 and 2024 was $57.97, $41.90 and $27.42, per share, respectively. The aggregate grant date fair value of RSU’s vested during fiscal 2026, 2025 and 2024 was $30.07, $29.72 and $31.11, respectively. Unrecognized compensation costs related to unvested RSU’s as of January 31, 2026, was $30,965, which is expected to be recognized over a weighted-average period of 1.9 years.