On September 25, 2024, our Board of Directors approved a program to purchase up to $10.0 million of our common stock, subject to certain conditions, in the open market, in block purchases, or in privately negotiated transactions. This authorization expired on September 30, 2025. On September 30, 2025, our Board of Directors approved a program to

purchase up to $10.0 million of our common stock, subject to certain conditions, in the open market, in block purchases, or in privately negotiated transactions, commencing on October 1, 2025 and executable through September 30, 2026. During the three months ended July 31, 2026 we did not repurchase any shares of our common stock under these authorizations. During the three months ended July 31, 2025, we repurchased 240,437 shares of our common stock for $2.5 million utilizing cash on hand.

We calculate basic and diluted earnings/(loss) per share in accordance with the provisions of ASC 260-10, Earnings Per Share. Basic earnings per common share equals earnings/(loss) divided by the weighted average number of common shares outstanding during the periods presented. Diluted earnings per common share equals earnings/(loss) divided by the weighted average number of common shares outstanding during the periods presented, after giving effect to all potentially dilutive stock awards that are outstanding, if their effect is dilutive.

Due to the loss from operations for the three months ended July 31, 2026, and 2025, there are no common shares added to calculate dilutive earnings per share because the effect would be anti-dilutive. Had there been income from operations for the three months ended July 31, 2026, and 2025, all of our performance-based restricted stock units, or PSUs, and restricted stock units, or RSUs, would have been included in the computation of diluted earnings per share and could potentially dilute earnings per share in the future.

We grant RSUs to employees and directors. The awards are made at no cost to the recipient. An RSU represents the right to receive one share of our common stock and does not carry voting or dividend rights. Except in specific circumstances, RSU grants to employees generally vest over a period of three or four years with one-third or one-fourth of the units vesting on each anniversary of the grant date, respectively. RSU grants to directors generally vest over a 12-month period with one-twelve of the units vesting on each month anniversary of the grant date. We amortize the aggregate fair value of our RSU grants to compensation expense over the vesting period. Awards that do not vest are forfeited.

We grant PSUs to our executive officers and certain other employees from time to time. We granted PSUs to our executive officers in fiscal 2027 and 2026 that include internal performance metrics. These PSUs are earned and vest based on two internal performance metrics that include 1) a three-year average return on invested capital, or ROIC, and 2) a three-year cumulative Adjusted EBITDA. The grant date fair value of the fiscal 2026 awards was estimated using the closing share price of our common stock on the date of grant. The total quantity of PSUs eligible to vest under these awards range from zero to 200% of the target based on actual average ROIC and cumulative Adjusted EBITDA performance during the performance period. As such, the fiscal 2027 and 2026 awards are subject to performance conditions and compensation cost is recognized over the service period based on the amount of awards that we believe is probable that will vest. To the extent we estimate changes, we will recognize a cumulative catch up in subsequent reporting periods.

During the three months ended July 31, 2026, we granted an aggregate of 95,781 PSUs to our executive officers. We also granted 216,048 RSUs during the three months ended July 31, 2026, including 95,785 RSUs to executive officers and 120,263 to non-executive officer employees and directors under our 2020 Incentive Compensation Plan. During the three months ended July 31, 2026, 76,251 PSUs were cancelled, at target, as a result of the performance condition not being met, and 1,126 RSUs were cancelled as a result of the service condition not being met. In connection with the vesting of RSUs, during the three months ended July 31, 2026, we delivered common stock to our employees, including our executive officers, and directors with a total market value of $2.4 million.

During the three months ended July 31, 2025, we granted an aggregate of 79,730 PSUs to our executive officers. We also granted 175,015 RSUs during the three months ended July 31, 2025, including 79,729 RSUs to executive officers and 95,286 to non-executive officer employees under our 2020 Incentive Compensation Plan. In addition, in connection with a 2022 grant, we vested 52,277 market-condition PSUs (i.e., the target amount granted), which achieved 200% of the maximum aggregate award possible, resulting in awards totaling 104,554 shares to certain of our executive officers. During

the three months ended July 31, 2025, 620 RSUs were cancelled as a result of the service condition not being met. In connection with the vesting of RSUs, during the three months ended July 31, 2025, we delivered common stock to our employees, including our executive officers, and directors with a total market value of $3.2 million.


	For the Three Months Ended July 31,
	2026			2025
	Total # of Restricted Stock Units	Weighted Average Grant Date Fair Value		Total # of Restricted Stock Units	Weighted Average Grant Date Fair Value
RSUs and PSUs outstanding, beginning of period	715,254	$	9.44	700,953	$	9.48
Awarded	311,829	10.05		307,022	11.19
Vested	(223,130)	9.24		(291,913)	11.36
Forfeited	(77,377)	9.84		(620)	8.06
RSUs and PSUs outstanding, end of period	726,576	$	9.72	715,442	$	9.46

As of July 31, 2026, there was $3.2 million of unrecognized compensation expense related to unvested RSUs and PSUs. We expect to recognize this expense over a weighted average remaining contractual term of 1.6 years.