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Share-Based Compensation | 3 Months Ended
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May 29, 2021
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation Total share-based compensation expense included in the results of operations was $1.7 million for the three-month period ended May 29, 2021 and $1.4 million for the three-month period ended May 30, 2020. Stock options and SARs Stock option and SAR activity for the current three-month period is summarized as follows:
Stock options and SARs |  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value
Outstanding at February 27, 2021 |  | 633,700 |  |  | $ | 23.04 |  |  |  |  |
Awards exercised |  | (178,564) |  |  | 23.04 |  |  |  |  |
Awards canceled |  | (37,036) |  |  | 23.04 |  |  |  |  |
Outstanding at May 29, 2021 |  | 418,100 |  |  | $ | 23.04 |  |  | 9.1 years |  | $ | 6,258,957 |
Vested or expected to vest at May 29, 2021 |  | 418,100 |  |  | $ | 23.04 |  |  | 9.1 years |  | $ | 6,258,957 |
For the three-months ended May 29, 2021, cash proceeds from the exercise of stock options were $4.1 million and the aggregate intrinsic value of securities exercised (the amount by which the stock price on the date of exercise exceeded the stock price of the award on the date of grant) was $2.7 million. No awards were issued or exercised during the three-months ended May 30, 2020. Executive Compensation Program In fiscal 2022, the Compensation Committee of the Board of Directors implemented an executive compensation program for certain key employees. In the first quarter of fiscal 2022, we issued performance shares in the form of nonvested share unit awards, which give the recipient the right to receive shares earned at the vesting date. The number of share units issued at grant is equal to the target number of performance shares and allows for the right to receive an additional number of shares dependent on achieving a defined performance goal of return on invested capital and being employed at the end of the performance period. Nonvested share awards and units Nonvested share activity, including performance share units, for the current three-month period is summarized as follows:
Nonvested shares and units |  | Number of Shares and Units |  | Weighted Average Grant Date Fair Value
Nonvested at February 27, 2021 |  | 475,227 |  |  | $ | 27.52 |
Granted(1) |  | 141,956 |  |  | 34.71 |
Vested |  | (52,892) |  |  | 24.82 |
Nonvested at May 29, 2021(1) |  | 564,291 |  |  | $ | 29.58 |
(1) Includes a total of 52,023 nonvested share units granted and outstanding at target level for the fiscal 2022-2024 performance period. At May 29, 2021, there was $11.3 million of total unrecognized compensation cost related to nonvested share and nonvested share unit awards, which is expected to be recognized over a weighted average period of approximately 31 months. The total fair value of shares vested during the three months ended May 29, 2021 was $1.9 million.

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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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