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Share-Based Compensation | 3 Months Ended
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Feb. 28, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Share-Based Compensation | NOTE 4—SHARE-BASED COMPENSATION: The Company recognizes share-based compensation expense for all share-based awards made to employees and directors, including employee stock options, restricted stock awards, restricted stock units, performance-based restricted stock units and employee stock purchases, based on estimated fair values. The following table summarizes the number of share-based awards granted under the Company’s stock incentive plans, during the three months ended February 28, 2021 and February 29, 2020, and the measurement-date fair value of those awards:
|  | Three Months Ended |
|  | February 28, 2021 |  |  | February 29, 2020 |
|  | Shares awarded |  |  | Fair value of grants |  |  | Shares awarded |  |  | Fair value of grants |
Stock options |  |  | 98 |  |  | $ | 2,995 |  |  |  | — |  |  | $ | — |
Restricted stock awards |  |  | 239 |  |  |  | 21,638 |  |  |  | 5 |  |  |  | 757 |
Restricted stock units |  |  | 99 |  |  |  | 7,662 |  |  |  | — |  |  |  | 25 |
|  |  | 436 |  |  | $ | 32,295 |  |  |  | 5 |  |  | $ | 782 |
The Company recorded share-based compensation expense in the Consolidated Statements of Operations for the three months ended February 28, 2021 and February 29, 2020 as follows:
|  | Three Months Ended |
|  | February 28, 2021 |  |  | February 29, 2020 |
Total share-based compensation (recorded in selling, general and administrative expenses) |  | $ | 4,887 |  |  | $ | 4,599 |
Tax benefit recorded in the provision for income taxes |  |  | (1,222 | ) |  |  | (1,148 | )
Effect on net income |  | $ | 3,665 |  |  | $ | 3,451 |
In connection with the Separation, as required by the SYNNEX stock incentive plans, the Company made certain adjustments to outstanding employee equity awards with the intention of preserving the intrinsic value of the awards prior to the Separation. There were 1,452 awards outstanding at November 30, 2020. In accordance with the employee matters agreement, each exercisable and non-exercisable stock option and unvested restricted stock award was modified into similar awards of both SYNNEX and Concentrix and the exercise price of outstanding stock options was adjusted to preserve the intrinsic value of the awards. Certain restricted stock units and performance-contingent awards were modified to provide the holders restricted stock units and performance contingent awards in the company that employs such employee following the Separation. When settled wholly in the employer’s shares, the ratio was based on the closing stock price of SYNNEX at November 30, 2020 compared to the opening stock price of the respective entity on December 1, 2020. The options strike prices were adjusted in the same manner. The modification of these awards did not result in material incremental compensation cost.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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