Note 2 - Stock Compensation |
6 Months Ended | ||
|---|---|---|---|
Apr. 30, 2026 | |||
| Stock Compensation | |||
| Stock Compensation |
During the first quarter of fiscal 2026, the Board of Directors (the "Board") approved certain grants under a new Long-Term Incentive Program (the "2026 LTIP") that contain performance-based vesting conditions. The performance period for the 2026 LTIP commenced on November 1, 2025 and will end on October 31, 2028. At the end of the performance period, approximately 50% of the awards, if any, are payable in shares of Company stock, subject to a mandatory post-vesting hold period and approximately 50% of the awards, if any, are paid in cash based on the earned phantom stock units.
For the three and six months ended April 30, 2026, stock-based compensation expense was $1.8 million ($1.8 million net of tax) and $3.4 million ($2.4 million net of tax), respectively. For the three and six months ended April 30, 2025, stock-based compensation expense was $4.2 million ($3.1 million net of tax) and $7.9 million ($5.7 million net of tax), respectively. |