Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 20

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 1
Chunk 20
---
      
                 
 Non-Vested at April 30, 2025   162,392   $6,190    1 

    Three Months Ended April 30, 2024 
              
    Non-Vested Shares   Weighted  Average Grant Date Fair Value  (000’s)   Weighted  Average Remaining Vesting Term (in years) 
                 
 Non-Vested at January 31, 2024   162,855   $5,369    2 
 Granted   -    -      
 Forfeited   -    -      
 Vested   -    -      
                 
 Non-Vested at April 30, 2024   162,855   $5,369    2 

Restricted Stock Units

In May 2022, the Company
issued a total of 67,500 RSUs to certain officers with a performance period that ended on December 31, 2024. The number of RSUs
eligible to vest ranged from zero percent to

20

two-hundred percent and
was determined based on how the Company’s TSR compared to the TSR of companies that comprised the Russell 2000 Index during
the performance period ending December 31, 2024. The calculated payout of the units that vested was 148%, or 99,900 shares, and
the shares were issued on February 26, 2025.

The Company did not recognize
any compensation cost related to RSUs in the three-month period ended April 30, 2025. The Company recognized compensation cost
related to RSUs of approximately $0.3 million in the three-month period ended April 30, 2024.

For the three-month period
ended April 30, 2024, we calculated the diluted weighted average shares as follows (amounts in thousands):

     Three Months Ended April 30, 2024

    Weighted average shares – basic             
     17,546             

    Dilutive effect of RSUs 
     118 

    Weighted average shares – diluted 
     17,664 

Note 12. Income Taxes

The Company’s income tax provision
was approximately