Company: REX
Filing Date: 2025-06-04
Form Type: 10-Q
Source: 0000930413-25-001941
Chunk: 64

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-06-04
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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30, 2025, the Company owned United
States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $156.0
million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 4.3%.
Unrecognized holding losses at April 30, 2025 were approximately $94,000.

At January 31, 2025, the Company owned United
States Treasury Bills (classified as short-term investments) that had an amortized cost, or carrying value, of approximately $162.8
million. The contractual maturity of these investments was less than one year. The yield to maturity rate was approximately 4.4%.
Unrecognized holding losses at January 31, 2025 were approximately $19,000.

11. Employee Benefits

The Company maintains the
REX 2015 Incentive Plan, approved by its shareholders, which reserves a total of 1,650,000 shares of common stock for issuance
pursuant to its terms. The plan provides for the granting of shares of stock, including options to purchase shares of common stock,
stock appreciation rights tied to the value of common stock, restricted stock, and restricted stock unit awards to eligible employees,
non-employee directors and consultants. Until 2022, the Company had only granted restricted stock awards. In May 2022, the Company
issued restricted stock units to certain officers of the Company which vested based on the Company’s TSR compared to the
TSRs of companies that comprise the Russell 2000 Index over a three-year performance period (see below). The Company measures share-based
compensation grants at fair value on the grant date, adjusted for estimated forfeitures. The Company records non-cash compensation
expense related to liability and equity awards in its consolidated financial statements over the requisite service period on a
straight-line basis. At April 30, 2025, 1,065,809 shares remain available for issuance under the Plan.

Restricted Stock Awards

As a component of their
compensation, restricted stock has been granted to directors and certain employees at the closing market price of REX common stock
on the grant date. In addition, one quarter of executives’ incentive compensation is payable by an award of restricted stock
based on the then closing market price of REX common stock on the grant date. The Company’s board of directors has determined

19

that the grant date will
be