XML 51 R37.htm IDEA: XBRL DOCUMENT v3.19.1
Share-Based Compensation Plans (Tables)
 12 Months Ended
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.