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Stock Option Plans
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 10. Stock Option Plans The Company has stock-based compensation plans under which stock options have been granted to directors, officers and key employees at the market price on the date of the grant. The total intrinsic value of options exercised during the six months ended July 31, 2011 and 2010 was approximately $3.1 million and $0.5 million, respectively, resulting in tax deductions to realize benefits of approximately $0.6 million and $0.2 million, respectively. The following table summarizes options granted, exercised and canceled or expired during the six months ended July 31, 2011:
Certain officers and directors of the Company tendered 201,225 shares of the Company’s common stock as payment of the exercise price of stock options exercised pursuant to the Company’s Stock-for-Stock and Cashless Option Exercise Rules and Procedures, adopted on June 4, 2001. The purchase price was $15.83 per share. At July 31, 2011, there was no unrecognized compensation cost related to nonvested stock options. |
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