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NOTE 9. SHARE-BASED COMPENSATION
 3 Months Ended
Feb. 29, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
NOTE 9. SHARE-BASED COMPENSATION

 

    Three months ended  
    February 29,     February 28,  
    2016     2015  
Stock options   $ 3,668     $ 4,104  
Performance share unit plan     989       1,170  
Deferred share unit plan     51       55  
    $ 4,708     $ 5,329  

 

In the first three months of 2016, the Company granted 4,586,700 share options to employees and directors with an exercise price of C$5.02 per share and a fair value of C$1.83 per share. The Company also granted 1,241,900 performance share units (PSUs) to employees with a fair value of C$4.65 per unit. PSU grants made on January 4, 2014 vested and were paid out on December 1, 2015 in common shares of the Company at 140% of the PSU grant amount. The Company elected to remit PSU withholding taxes of $4,275,000 using cash and issued the net amount of 1,377,364 shares to holders.

 

In the first three months of 2015, the Company granted 4,359,450 share options to employees and directors with an exercise price of C$3.18 per share and a fair value of C$1.28 per share. The Company also granted 1,377,250 PSUs to employees with a fair value of C$3.86 per unit. PSU grants made on December 5, 2012 vested and were paid out on December 5, 2014 in common shares of the Company at 137% of the PSU grant amount. The Company elected to remit PSU withholding taxes of $827,000 using cash and issued the net amount of 506,175 shares to holders.