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Share-Based Compensation (Tables) | 12 Months Ended
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Mar. 02, 2024
Share-Based Payment Arrangement [Abstract] |
Share-based compensation expense | We recorded share-based compensation expense, in which we account for any forfeitures as they occur, as follows:
(In thousands) |  | 2024 |  | 2023 |  | 2022
Restricted stock awards and restricted stock unit awards |  | $ | 6,753 |  |  | $ | 5,607 |  |  | $ | 5,345 |
Performance stock unit awards |  | 2,714 |  |  | 2,389 |  |  | 501 |
Stock options |  | 254 |  |  | 660 |  |  | 447 |
Share-based compensation expense |  | 9,721 |  |  | 8,656 |  |  | 6,293 |
Award transactions on stock options | Stock option and SAR activity for the current fiscal year is summarized below:
|  | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life |  | Aggregate Intrinsic Value at Year-End
Outstanding at February 25, 2023 |  | 158,000 |  |  | $ | 23.04 |  |  |  |  |
Awards exercised |  | (86,458) |  |  | 23.04 |  |  |  |  |
Awards canceled |  | (71,542) |  |  | 23.04 |  |  |  |  |
Outstanding at March 2, 2024 |  | — |  |  | $ | — |  |  | 0.0 years |  | $ | — |
Nonvested share award transactions | The following table summarizes nonvested restricted stock awards and restricted stock units activity for fiscal 2024:
|  | Number of Shares and Units |  | Weighted Average Grant Date Fair Value
February 25, 2023 |  | 375,080 |  |  | $ | 35.89 |
Granted |  | 199,138 |  |  | 43.38 |
Vested |  | (166,957) |  |  | 32.54 |
Canceled |  | (22,800) |  |  | 42.82 |
March 2, 2024 |  | 384,461 |  |  | $ | 40.28 |
Performance shares activity | The following table summarizes nonvested performance share units granted and outstanding for which all plans are at maximum achievement of 200% of target:
|  | Number of Shares and Units |  | Weighted Average Grant Date Fair Value
February 25, 2023 |  | 79,699 |  |  | $ | 40.83 |
Granted |  | 48,483 |  |  | 43.61 |
Canceled |  | (13,078) |  |  | 41.80 |
March 2, 2024 |  | 115,104 |  |  | $ | 41.89 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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