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Share-Based Compensation Plans | 3 Months Ended
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May 31, 2017
Share-Based Compensation Plans |
Share-Based Compensation Plans | Note 15 – Share-Based Compensation Plans We have equity awards outstanding under several share-based compensation plans. During the three months ended May 31, 2017, we had the following share-based compensation activity:
| · |  | We issued 1,424 restricted shares to non-employee Board members with a total grant date fair value of $0.1 million and an average share price of $98.45.
| · |  | We granted time-vested restricted stock units (“RSUs”) that may be settled for 69,807 shares of common stock with average fair values at the grant dates of $95.87 per unit. We also granted performance-based restricted stock units (“PSUs”) for 65,010 shares of common stock, with an average fair value of $96.80 per unit.
| · |  | Employee RSUs for 33,266 shares vested and settled with a total grant date fair value of $3.3 million, and an average share price of $98.39. Employee PSUs for 149,884 shares vested and settled with a total grant date fair value of $14.3 million, and an average share price of $95.55.
| · |  | Employees exercised stock options to purchase 76,593 shares of common stock.
We recorded the following share-based compensation expense in SG&A for the periods shown below: SHARE-BASED PAYMENT EXPENSE
|  | Three Months Ended May 31,
(in thousands, except per share data) |  | 2017 |  | 2016
Stock options |  | $ | 539 |  | $ | 740
Directors stock compensation |  |  | 200 |  |  | 175
Performance based and other stock awards |  |  | 2,512 |  |  | 4,751
Share-based payment expense |  |  | 3,251 |  |  | 5,666
Less income tax benefits |  |  | (490) |  |  | (1,521)
Share-based payment expense, net of income tax benefits |  | $ | 2,761 |  | $ | 4,145
Earnings per share impact of share-based payment expense: |  |  |  |  |  |
Basic |  | $ | 0.10 |  | $ | 0.15
Diluted |  | $ | 0.10 |  | $ | 0.15

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