Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.8.0.1
Stockholders' Equity (Tables)
12 Months Ended
Jan. 31, 2018
Equity [Abstract]  
Effect of Recording Stock Based Compensation

The effect of recording stock-based compensation was as follows:

 

 

 

For the Fiscal Years Ended January 31,

 

 

 

2018

 

 

2017

 

 

2016

 

 

 

(Amounts in thousands)

 

Stock-based compensation expense by type of award:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

$

1,025

 

 

$

873

 

 

$

1,257

 

Restricted stock units

 

 

664

 

 

 

624

 

 

 

1,203

 

Deferred stock units

 

 

487

 

 

 

709

 

 

 

607

 

Performance-based restricted stock units

 

 

511

 

 

 

398

 

 

 

475

 

Employee stock purchase plan

 

 

9

 

 

 

17

 

 

 

10

 

Total stock-based compensation

 

$

2,696

 

 

$

2,621

 

 

$

3,552

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value of Stock Options Granted

The fair value of stock options granted was estimated at the date of grant using the following assumptions:

 

 

 

For the Fiscal Years Ended January 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Expected term (in years)

 

6-7

 

 

6-7

 

 

6-7

 

Expected volatility (range)

 

39-46%

 

 

40-45%

 

 

40-45%

 

Weighted average volatility

 

41%

 

 

42%

 

 

42%

 

Risk-free interest rate

 

1.9-2.5%

 

 

1.0-2.0%

 

 

1.5-2.0%

 

Weighted average interest rate

 

2.4%

 

 

1.1%

 

 

1.6%

 

Expected dividend yield

 

0%

 

 

0%

 

 

0%

 

 

Stock Option Activity

The following table summarizes the Company’s stock option activity:

 

 

 

For the Fiscal Years Ended January 31,

 

 

 

2018

 

 

2017

 

 

2016

 

 

 

Shares

 

 

Weighted

average

exercise

price

 

 

Shares

 

 

Weighted

average

exercise

price

 

 

Shares

 

 

Weighted

average

exercise

price

 

Outstanding at beginning of period

 

 

2,141,567

 

 

$

4.70

 

 

 

1,192,677

 

 

$

6.80

 

 

 

1,626,421

 

 

$

7.77

 

Granted

 

 

1,400,000

 

 

$

3.16

 

 

 

1,581,614

 

 

$

4.02

 

 

 

612,678

 

 

$

6.44

 

Exercised

 

 

 

 

$

 

 

 

 

 

$

 

 

 

(28,740

)

 

$

6.74

 

Forfeited/expired/cancelled

 

 

(301,462

)

 

$

5.65

 

 

 

(632,724

)

 

$

6.98

 

 

 

(1,017,682

)

 

$

8.13

 

Outstanding at end of period

 

 

3,240,105

 

 

$

3.94

 

 

 

2,141,567

 

 

$

4.70

 

 

 

1,192,677

 

 

$

6.80

 

Options exercisable at end of period

 

 

399,232

 

 

$

3.98

 

 

 

203,982

 

 

$

6.28

 

 

 

80,000

 

 

$

6.83

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average remaining contractual term (in years)

 

 

 

 

 

 

8.00

 

 

 

 

 

 

 

8.01

 

 

 

 

 

 

 

8.10

 

 

Summary of Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable as of January 31, 2018:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

 

 

Number outstanding

 

 

Weighted

average

remaining

contractual

terms

(years)

 

 

Weighted

average

exercise

price

 

 

Number

exercisable

 

 

Weighted

average

exercise

price

 

Range of exercise prices

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$2.42 to $2.42

 

 

413,797

 

 

 

8.36

 

 

$

2.42

 

 

 

133,517

 

 

$

2.42

 

$2.60 to $2.64

 

 

300,000

 

 

 

4.20

 

 

$

2.61

 

 

 

18,750

 

 

$

2.64

 

$2.67 to $3.30

 

 

260,000

 

 

 

8.27

 

 

$

2.98

 

 

 

40,000

 

 

$

3.13

 

$3.33 to $3.33

 

 

1,050,000

 

 

 

10.00

 

 

$

3.33

 

 

 

 

 

$

 

$3.41 to $3.41

 

 

50,000

 

 

 

8.27

 

 

$

3.41

 

 

 

12,500

 

 

$

3.41

 

$3.50 to $3.50

 

 

100,000

 

 

 

8.26

 

 

$

3.50

 

 

 

25,000

 

 

$

3.50

 

$3.77 to $3.77

 

 

21,067

 

 

 

1.25

 

 

$

3.77

 

 

 

14,046

 

 

$

3.77

 

$3.83 to $3.83

 

 

75,000

 

 

 

8.21

 

 

$

3.83

 

 

 

18,750

 

 

$

3.83

 

$5.56 to $7.25

 

 

800,000

 

 

 

7.97

 

 

$

5.98

 

 

 

 

 

$

 

$6.05 to $6.05

 

 

165,241

 

 

 

1.77

 

 

$

6.05

 

 

 

131,669

 

 

$

6.05

 

$8.15 to $8.15

 

 

5,000

 

 

 

1.42

 

 

$

8.15

 

 

 

5,000

 

 

$

8.15

 

 

 

 

3,240,105

 

 

 

8.00

 

 

$

3.94

 

 

 

399,232

 

 

$

3.98

 

 

Summary of Stock Unit Activity

The following table summarizes the stock unit activity:

 

 

 

For the Fiscal Years Ended January 31,

 

 

 

2018

 

 

2017

 

 

2016

 

 

 

 

 

 

 

Weighted

average

 

 

 

 

 

 

Weighted

average

 

 

 

 

 

 

Weighted

average

 

 

 

 

 

 

 

grant date

 

 

 

 

 

 

grant date

 

 

 

 

 

 

grant date

 

 

 

Shares

 

 

fair value

 

 

Shares

 

 

fair value

 

 

Shares

 

 

fair value

 

Unvested at beginning of period

 

 

1,453,058

 

 

$

5.54

 

 

 

1,053,045

 

 

$

7.34

 

 

 

435,306

 

 

$

8.91

 

Awarded

 

 

796,304

 

 

$

3.07

 

 

 

837,927

 

 

$

3.07

 

 

 

904,344

 

 

$

6.46

 

Vested

 

 

(271,285

)

 

$

2.85

 

 

 

(208,474

)

 

$

3.46

 

 

 

(277,373

)

 

$

6.89

 

Forfeited/expired/cancelled

 

 

(53,187

)

 

$

5.71

 

 

 

(229,440

)

 

$

6.68

 

 

 

(9,232

)

 

$

8.42

 

Unvested at end of period

 

 

1,924,890

 

 

$

4.89

 

 

 

1,453,058

 

 

$

5.54

 

 

 

1,053,045

 

 

$

7.34