Note 15 - Stock-based Compensation
|6 Months Ended|
Apr. 30, 2020
|Notes to Financial Statements|
|Share-based Payment Arrangement [Text Block]||
The Company rolled forward certain vested options from the Predecessor (see discussion below) to
2,783,479equivalent vested options in the Successor.
Noincremental compensation costs were recognized on conversion as the fair value of the options issued were equivalent to the fair value of the vested options of the Predecessor. Exercise prices for those options range from
2019,pursuant to the Concrete Pumping Holdings, Inc.
2018Omnibus Incentive Plan, the Company granted stock-based awards to certain employees in the U.S. and U.K. All awards in the U.S. are restricted stock awards while awards granted to employees in the U.K. are stock options with exercise prices of
$0.01.Regardless of where the awards were granted, the awards vest pursuant to
oneof the following
Included in the table below is a summary of the awards granted, including the location, type of award, fair value of awards, and the date that expense will be recognized through. In accordance with ASC
718,the market-based awards were assigned the fair values in the table below using a Monte Carlo simulation model. In addition, while the table below provides a date through which expense will be recognized on a straight-line basis, if at such time these market-based stock awards vest under both vesting conditions, expense recognition will be accelerated. Stock-based compensation expense for the
six-month periods ended
April 30, 2020was
$2.9million, respectively. Stock-based compensation expense was
million for the
three-month period ending
April 30, 2019and the Successor period from
December 6, 2018through
April 30, 2019.
The Predecessor accounted for share-based awards in accordance with ASC Topic
718”), which requires the fair value of stock-based compensation awards to be amortized as an expense over the vesting period. Stock-based compensation awards are valued at fair value on the date of grant. As a result of the Business Combination, the acceleration clause within the original award agreements was triggered and all unvested awards immediately vested, resulting in an amount of
$0.6million of stock-based compensation expense presented “on the line” (see Note
4- Business Combinations). Stock-based compensation for the Predecessor period from
November 1, 2018to
December 5, 2018totaled
$0.1million, and has been included in general and administrative expenses on the accompanying consolidated statements of operations.
The entire disclosure for share-based payment arrangement.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef