We account for stock-based compensation in accordance with the related guidance. Under the fair value recognition provisions, we estimate stock-based compensation cost at the grant date based on the fair value of the award. We recognize that expense ratably over the requisite service period of the award. We recognized $136 and $134 of stock based compensation expense for the three-month periods ended January 31, 2016 and 2015, respectively and $194 and $202 of stock based compensation expense for the six-month periods ended January 31, 2016 and 2015, respectively.

 

At January 31, 2016, 161 shares of common stock granted under the 2004 Plan remained unvested and no unvested shares under the 2014 plan existed. At January 31, 2016, 293 shares remained available for future grants under the 2014 plan and the Company had $488 of unrecognized compensation expense, expected to be recognized in the future over a weighted-average period of approximately six years.