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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Feb. 28, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of options fair value

​

​	​	​	​	​	​	​	​
​		For the year ended		For the year ended		For the year ended
​	​	February 29, 2020	​	February 28, 2021	​	February 28, 2022	​
Risk-free interest rate(1)		1.63%‑2.35	%	0.31%‑0.51	%	0.96%-1.06	%
Expected life (years)(2)		6.00‑6.25		6.25‑7.43		6.00-6.50	​
Expected dividend yield(3)		0	%	0	%	0	%
Volatility(4)		34.2%‑35.1	%	35.8%‑35.9	%	37.4%-58.3	%
Fair value of options at grant date per share	​	$43.53 to $72.09	​	$65.55 to $90.06	​	$4.02 to $74.82	​

​

(1) Risk-free interest rate

Risk-free interest rate for periods within the contractual life of the option is based upon the U.S. treasury yield curve in effect at the time of grant.

(2) Expected life (years)

Assumption of the expected term were based on the vesting and contractual terms and employee demographics.

(3) Expected dividend yield

The dividend yield was estimated by the Company based on its expected dividend policy over the expected term of the options.

25.         SHARE-BASED COMPENSATION – continued

Share options - continued

(4) Volatility

The volatility assumption was estimated based on historical volatility of the Company’s share price applying the guidance provided by ASC 718. The Company begins to estimate the volatility assumption solely based on its historical information since October 2010.

Schedule of activities of share options

​

​	​	​	​	​	​	​	​	​
​	​	​	​	Weighted	​	Weighted	​	Aggregate
​	​	​	​	average	​	average remaining	​	intrinsic
​	​	Number	​	exercise price	​	contractual	​	value
Share options		of shares		(US$)		life (Years)		(US$)
​	​	​	​	​	​	​	​	​
Outstanding as of February 28, 2021		538,583		67.58		6.96		88,975
​	​	​	​	​	​	​	​	​
Granted		115,690		47.01		​	​	​
Exercised		56,296		23.33		​	​	​
Forfeited		131,552		56.00
​	​	​	​	​	​	​	​	​
Outstanding as of February 28, 2022		466,425		71.09		6.54		1,049
​	​	​	​	​	​	​	​	​
Vested and expected to vest as of February 28, 2022		466,425		71.09		6.54		1,049
Exercisable as of February 28, 2022		295,080		44.00		5.61		480

Schedule of share-based compensation expense

​

​	​	​	​	​	​	​	​	​	​
​	​	For the year ended		​	For the year ended		​	For the year ended
​	​	February 29,		​	February 28,		​	February 28,
​		2020			2021			2022
​	​	​	​	​	​	​	​	​	​
Cost of revenues	​	$	1,074	​	$	1,803	​	$	1,134
Selling and marketing expenses	​		19,356	​		56,609	​		53,850
General and administrative expenses	​		97,513	​		146,533	​		119,848
​	​	​	​	​	​	​	​	​	​
Total	​	$	117,943	​	$	204,945	​	$	174,832

Non-vested shares - service condition

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of non-vested shares under 2010 Plan

​

​	​	​	​	​
​	​	Service Condition
​	​	Number of	​	Weighted
​	​	non-vested	​	average grant date
​		shares		fair value
​	​	​	​	​
Outstanding as of February 28, 2021		8,384,326		79.67
​	​	​	​	​
Granted		5,685,826		34.30
Forfeited		3,696,601		81.56
Vested		2,139,084		67.91
​	​	​	​	​
Outstanding as of February 28, 2022		8,234,467		50.55

Non-vested shares - performance condition

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of non-vested shares under 2010 Plan

​

​	​	​	​	​
​	​	Performance Condition
​	​	Number of	​	Weighted
​	​	non-vested	​	average grant date
​		shares		fair value
​	​	​	​	​
Outstanding as of February 28, 2021		556,613		220.87
​	​	​	​	​
Granted		531,612		119.56
Forfeited		412,944		148.03
Vested	​	316,132	​	208.65
​	​	​	​	​
Outstanding as of February 28, 2022		359,149		164.42

X

- Definition

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Tabular disclosure of the changes in outstanding nonvested shares.

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