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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Feb. 28, 2013
SHARE-BASED COMPENSATION PLANS |
Schedule of share-based payment expense | (in thousands, except per share data)
|  |  | Fiscal Years Ended the Last Day of February,
|  |  | 2013 |  | 2012 |  | 2011
Stock options |  |  | $ | 2,298 |  | $ | 2,061 |  | $ | 1,603
Directors stock compensation |  |  | 473 |  | 531 |  | 258
Performance based restricted stock awards and units |  |  | 2,988 |  | - |  | -
Employee stock purchase plan |  |  | 296 |  | 336 |  | 156
Share-based payment expense |  |  | 6,055 |  | 2,928 |  | 2,017
Less income tax benefits |  |  | (858) |  | (99) |  | (99)
Share-based payment expense, net of income tax benefits |  |  | $ | 5,197 |  | $ | 2,829 |  | $ | 1,918
Earnings per share impact of share based payment expense: |  |  |  |  |  |  |
Basic |  |  | $ | 0.16 |  | $ | 0.09 |  | $ | 0.06
Diluted |  |  | $ | 0.16 |  | $ | 0.09 |  | $ | 0.06
Schedule of assumptions used for fair value of stock option grants |
|  |  | Fiscal Years Ended the Last Day of February,
|  |  | 2013 |  | 2012 |  | 2011
Range of risk free interest rates used |  |  | 0.1% - 0.9% |  | 0.6% - 1.5% |  | 1.2% - 1.7%
Expected dividend rate |  |  | 0.0% |  | 0.0% |  | 0.0%
Weighted average volatility rate |  |  | 51.4% |  | 52.5% |  | 50.0%
Range of expected volatility rates used |  |  | 45.7% - 55.3% |  | 51.4% - 65.9% |  | 49.4% - 53.0%
Range of expected terms used (in years) |  |  | 4.1 - 4.4 |  | 4.1 - 4.4 |  | 3.4
Summary of option activity | (in thousands, except contractual term and per share data)
|  |  |  |  |  |  |  | Weighted |  |
|  |  |  | Weighted |  | Weighted |  | Average |  |
|  |  |  | Average |  | Average |  | Remaining |  |
|  |  |  | Exercise |  | Grant Date |  | Contractual |  |
|  |  |  | Price |  | Fair Value |  | Term |  | Intrinsic
|  | Options |  | (per share) |  | (per share) |  | (in years) |  | Value
Outstanding at March 1, 2010 |  | 2,899 |  | $ | 18.13 |  | $ | 6.57 |  | 4.06 |  | $ | 18,742
Grants |  | 7 |  | 23.70 |  | 8.82 |  |  |  |
Exercises |  | (318) |  | (20.93) |  |  |  |  |  | 2,285
Forfeitures / expirations |  | (78) |  | (22.98) |  |  |  |  |  |
Outstanding at February 28, 2011 |  | 2,510 |  | 17.64 |  | 6.40 |  | 3.05 |  | 26,054
Grants |  | 379 |  | 32.71 |  | 13.13 |  |  |  |
Exercises |  | (1,907) |  | (16.10) |  |  |  |  |  | 36,912
Forfeitures / expirations |  | (111) |  | (27.91) |  |  |  |  |  |
Outstanding at February 29, 2012 |  | 871 |  | 26.26 |  | 10.31 |  | 5.78 |  | 5,570
Grants |  | 309 |  | 34.57 |  | 14.09 |  |  |  |
Exercises |  | (248) |  | (22.88) |  |  |  |  |  | 2,634
Forfeitures / expirations |  | (68) |  | (30.23) |  |  |  |  |  |
Outstanding at February 28, 2013 |  | 864 |  | $ | 29.89 |  | $ | 11.98 |  | 6.26 |  | $ | 6,209
Exercisable at February 28, 2013 |  | 175 |  | $ | 25.03 |  | $ | 9.46 |  | 3.77 |  | $ | 2,106
Schedule of non-vested option activity | (in thousands, except per share data)
|  |  |  | Weighted
|  |  |  | Average
|  |  |  | Grant Date
|  | Non-Vested |  | Fair Value
|  | Options |  | (per share)
Outstanding at March 1, 2010 |  | 684 |  | $ | 8.40
Grants |  | 7 |  | 8.82
Vested or forfeited |  | (195) |  | (8.36)
Outstanding at February 28, 2011 |  | 496 |  | 8.42
Grants |  | 379 |  | 13.13
Vested or forfeited |  | (258) |  | (9.19)
Outstanding at February 29, 2012 |  | 617 |  | 10.99
Grants |  | 309 |  | 14.09
Vested or forfeited |  | (237) |  | (10.29)
Outstanding at February 28, 2013 |  | 689 |  | $ | 12.62
Share-based compensation plans |
Schedule of unrecognized share-based compensation expense | (in thousands, except weighted average expense period data)
|  |  |  | Weighted
|  |  |  | Average
|  | Unrecognized |  | Period of
|  | Compensation |  | Recognition
|  | Expense |  | (in months)
Stock options |  | $ | 5,910 |  | 36.9
Restricted Stock Units |  | 21,918 |  | 24.0
Restricted Stock Awards |  | 3,784 |  | 24.0
Totals |  | $ | 31,612 |  | 26.4
Restricted Stock Units |
Share-based compensation plans |
Summary of award activity | (in thousands, except per share data)
|  |  |  | Weighted |  |
|  |  |  | Average |  |
|  | Restricted |  | Grant Date |  |
|  | Stock |  | Fair Value |  | Fair Value
|  | Units |  | (per share) |  | Outstanding
Outstanding at February 29, 2012 |  | - |  | $ | - |  | $ | -
Granted |  | 700 |  | 32.88 |  |
Vested |  | - |  | - |  | -
Outstanding at February 28, 2013 |  | 700 |  | $ | 32.88 |  | $ | 25,956
Restricted Stock Awards |
Share-based compensation plans |
Summary of award activity | (in thousands, except per share data)
|  |  |  | Weighted |  |
|  |  |  | Average |  |
|  | Restricted |  | Grant Date |  |
|  | Stock |  | Fair Value |  | Fair Value
|  | Awards |  | (per share) |  | Outstanding
Outstanding at February 29, 2012 |  | - |  | $ | - |  | $ | -
Granted |  | 160 |  | 35.55 |  |
Vested |  | - |  | - |  | -
Outstanding at February 28, 2013 |  | 160 |  | $ | 35.55 |  | $ | 5,920

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