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Share-Based Compensation Plans (Tables) | 12 Months Ended
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Feb. 28, 2019
Share-based compensation plans |
Schedule of shares authorized for issuance under the stock incentive plan | A summary of shares available for issue under the 2018 Plan follows:
Shares originally authorized | 2,000,000 |
Less share awards issued | (2,128 | )
Plus forfeitures | 4,300 |
Less share awards previously vested and settled | — |
Subtotal | 2,002,172 |
Less RSUs issuable upon vesting (1) | (78,553 | )
Less maximum PSUs issuable upon vesting (1) | — |
Shares available for issuance | 1,923,619 |
(1) | RSUs and PSUs potentially issuable are estimated assuming the maximum payouts adjusted for actual forfeitures to date.
Schedule of share-based compensation expense in S G and A | We recorded share-based compensation expense in SG&A as follows:
| Fiscal Years Ended February 28,
(in thousands, except per share data) | 2019 |  | 2018 |  | 2017
Stock options | $ | 829 |  |  | $ | 1,634 |  |  | $ | 2,614 |
Directors stock compensation | 526 |  |  | 525 |  |  | 514 |
Performance based and other stock awards | 20,047 |  |  | 12,631 |  |  | 10,243 |
Employee stock purchase plan | 651 |  |  | 264 |  |  | 490 |
Share-based compensation expense | 22,053 |  |  | 15,054 |  |  | 13,861 |
Less income tax benefits | (1,395 | ) |  | (1,669 | ) |  | (1,762 | )
Share-based compensation expense, net of income tax benefits | $ | 20,658 |  |  | $ | 13,385 |  |  | $ | 12,099 |
Continuing operations earnings per share impact of share-based compensation expense: |  |  |  |  |
Basic | $ | 0.79 |  |  | $ | 0.49 |  |  | $ | 0.44 |
Diluted | $ | 0.79 |  |  | $ | 0.49 |  |  | $ | 0.43 |
Schedule of unrecognized share-based compensation expense |
(in thousands, except weighted average expense period data) | Unrecognized Compensation Expense | Weighted Average Period of Recognition (in months)
Stock options | $ | 244 |  | 8.6
Restricted stock units (RSUs and PSUs) | 18,519 |  | 26.4
Summary of option activity | A summary of stock option activity under our expired share-based compensation plans follows:
(in thousands, except contractual term and per share data) | Options |  | Weighted Average Exercise Price (per share) |  | Weighted Average Grant Date Fair Value (per share) |  | Weighted Average Remaining Contractual Term (in years) |  | Intrinsic Value
Outstanding at February 29, 2016 | 649 |  |  | $ | 53.94 |  |  | $ | 19.52 |  |  | 6.1 |  | $ | 26,847 |
Grants | 2 |  |  | 102.04 |  |  | 28.74 |  |  |  |  |  |
Exercises | (170 | ) |  | 43.07 |  |  |  |  |  |  |  | 9,152 |
Forfeitures / expirations | (33 | ) |  | 65.68 |  |  |  |  |  |  |  |  |
Outstanding at February 28, 2017 | 448 |  |  | 57.41 |  |  | 20.54 |  |  | 5.0 |  | 18,097 |
Grants | — |  |  | — |  |  | — |  |  |  |  |  |
Exercises | (126 | ) |  | 52.28 |  |  |  |  |  |  |  | 5,400 |
Forfeitures / expirations | (22 | ) |  | 72.37 |  |  |  |  |  |  |  |  |
Outstanding at February 28, 2018 | 300 |  |  | 58.35 |  |  | 32.04 |  |  | 4.3 |  | 9,606 |
Grants | — |  |  | — |  |  | — |  |  |  |  |  |
Exercises | (126 | ) |  | 49.82 |  |  |  |  |  |  |  | 6,414 |
Forfeitures / expirations | (11 | ) |  | 80.33 |  |  |  |  |  |  |  |  |
Outstanding at February 28, 2019 | 163 |  |  | $ | 63.47 |  |  | $ | 48.64 |  |  | 3.6 |  | $ | 7,925 |
Exercisable at February 28, 2019 | 126 |  |  | $ | 58.20 |  |  | $ | 53.91 |  |  | 3.4 |  | $ | 6,811 |
Schedule of non-vested option activity | A summary of non-vested stock option activity and changes under our expired share-based compensation plans follows:
(in thousands, except per share data) | Non- Vested Options |  | Weighted Average Grant Date Fair Value (per share)
Outstanding at February 29, 2016 | 521 |  |  | $ | 20.81 |
Grants | 2 |  |  | 28.74 |
Vested or forfeited | (243 | ) |  | 18.95 |
Outstanding at February 28, 2017 | 280 |  |  | 22.48 |
Grants | — |  |  | — |
Vested or forfeited | (155 | ) |  | 25.02 |
Outstanding at February 28, 2018 | 125 |  |  | 19.31 |
Grants | — |  |  | — |
Vested or forfeited | (88 | ) |  | 14.67 |
Outstanding at February 28, 2019 | 37 |  |  | $ | 30.44 |
Schedule of assumptions used for fair value of stock option grants | The fair value of our stock option grants were estimated using a Black-Scholes option pricing model with the following assumptions for fiscal 2017:
| Fiscal Year Ended February 28, 2017
Range of risk free interest rates used | 1.2 | %
Expected dividend rate | — | %
Weighted average volatility rate | 33.4 | %
Range of expected volatility rates used | 33.4 | %
Range of expected terms used (in years) | 4.1 |
Restricted Stock Units (RSU) |
Share-based compensation plans |
Summary of award activity |
| Expired Equity Plan |  | Active Equity Plan
(in thousands, except per share data) | Restricted Stock Units | Weighted Average Grant Date Fair Value (per share) | Fair Value at Grant Date |  | Restricted Stock Units | Weighted Average Grant Date Fair Value (per share) | Fair Value at Grant Date
Outstanding at February 29, 2016 (1) | 213 |  | $ | 66.50 |  | $ | 20,311 |  |  | — |  | $ | — |  | $ | — |
Granted (1) | 162 |  | 96.90 |  |  |  |  | — |  | — |  |  |
Vested or Forfeited (2) | (53 | ) | 70.14 |  |  |  |  | — |  | — |  |  |
Outstanding at February 28, 2017 | 322 |  | 81.19 |  | 31,418 |  |  | — |  | — |  | — |
Granted (1) | 262 |  | 96.44 |  |  |  |  | — |  | — |  |  |
Vested or Forfeited (2) | (274 | ) | 78.71 |  |  |  |  | — |  | — |  |  |
Outstanding at February 28, 2018 | 310 |  | 90.05 |  | 27,944 |  |  | — |  | — |  | — |
Granted (1) | 197 |  | 84.02 |  |  |  |  | 79 |  | 125.40 |  |  |
Vested or Forfeited (2) | (155 | ) | 82.19 |  |  |  |  | (5 | ) | 124.71 |  |  |
Outstanding at February 28, 2019 | 352 |  | $ | 92.45 |  | $ | 32,519 |  |  | 74 |  | $ | 125.45 |  | $ | 9,202 |
(1) | The expired plan reflects 141,541, 192,002 and 15,643 RSUs, which vested and settled throughout the year at a weighted average fair values of $81.23, $62.88 and $60.28 per share in fiscal 2019, 2018 and 2017, respectively.
(2) | The active plan reflects 900 RSUs which vested and settled throughout the year at a weighted average fair value of $120.70 per share in fiscal 2019.

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for share-based compensation plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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