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Share-Based Compensation Plans (Tables) | 12 Months Ended
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Feb. 29, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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 | (6,464 | )
Plus forfeitures | 32,126 |
Less share awards previously vested and settled | — |
Subtotal | 2,025,662 |
Less RSUs and RSAs issuable upon vesting (1) | (259,932 | )
Less maximum PSUs and PSAs issuable upon vesting (1) | (122,402 | )
Shares available for issuance | 1,643,328 |
(1) RSUs, PSUs, RSAs, and PSAs 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 Last Day of February,
(in thousands, except per share data) | 2020 |  | 2019 |  | 2018
Stock options | $ | 189 |  |  | $ | 829 |  |  | $ | 1,634 |
Directors stock compensation | 604 |  |  | 526 |  |  | 525 |
Performance based and other stock awards | 21,351 |  |  | 20,047 |  |  | 12,631 |
Employee stock purchase plan | 785 |  |  | 651 |  |  | 264 |
Share-based compensation expense | 22,929 |  |  | 22,053 |  |  | 15,054 |
Less income tax benefits | (1,803 | ) |  | (1,395 | ) |  | (1,669 | )
Share-based compensation expense, net of income tax benefits | $ | 21,126 |  |  | $ | 20,658 |  |  | $ | 13,385 |
Continuing operations earnings per share impact of share-based compensation expense: |  |  |  |  |
Basic | $ | 0.84 |  |  | $ | 0.79 |  |  | $ | 0.49 |
Diluted | $ | 0.83 |  |  | $ | 0.79 |  |  | $ | 0.49 |
Schedule of unrecognized share-based compensation expense | A summary of our total unrecognized share-based compensation expense as of February 29, 2020 is as follows:
(in thousands, except weighted average expense period data) | Unrecognized Compensation Expense | Weighted Average Period of Recognition (in years)
Stock options | $ | 19 |  | 0.6
Restricted stock (RSUs, PSUs, RSAs and PSAs) | 18,515 |  | 2.0
Summary of option activity | A summary of stock option activity under our expired plans is as 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 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 |
Grants | — |  |  | — |  |  |  |  |  |  |  |  |
Exercises | (93 | ) |  | 57.09 |  |  |  |  |  |  |  | 9,059 |
Forfeitures / expirations | (1 | ) |  | 87.61 |  |  |  |  |  |  |  |  |
Outstanding at February 29, 2020 | 69 |  |  | $ | 71.78 |  |  | $ | 92.82 |  |  | 3.2 |  | $ | 6,333 |
Exercisable at February 29, 2020 | 66 |  |  | $ | 71.10 |  |  | $ | 93.50 |  |  | 3.1 |  | $ | 6,157 |
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 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 |
Grants | — |  |  | — |
Vested or forfeited | (35 | ) |  | 27.36 |
Outstanding at February 29, 2020 | 2 |  |  | $ | 74.09 |
Summary of award activity | A summary of Restricted Stock Unit and Performance Stock Unit activity and changes under our equity incentive plans are as follows:
| 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 28, 2017 | 322 |  | 81.19 |  | 31,418 |  |  | — |  | — |  | — |
Granted | 262 |  | 96.44 |  | — |  |  | — |  | — |  |  |
Vested or Forfeited (1) (2) | (274 | ) | 78.71 |  | — |  |  | — |  | — |  |  |
Outstanding at February 28, 2018 | 310 |  | 90.05 |  | 27,944 |  |  | — |  | — |  | — |
Granted | 197 |  | 84.02 |  | — |  |  | 79 |  | 125.40 |  |  |
Vested or Forfeited (1) (2) | (155 | ) | 82.19 |  | — |  |  | (5 | ) | 124.71 |  |  |
Outstanding at February 28, 2019 | 352 |  | $ | 92.45 |  | $ | 32,519 |  |  | 74 |  | $ | 125.45 |  | $ | 9,202 |
Granted | 49 |  | 164.60 |  | — |  |  | 254 |  | 110.92 |  |  |
Vested or Forfeited (1) (2) | (192 | ) | 95.48 |  | — |  |  | (45 | ) | 122.55 |  |  |
Outstanding at February 29, 2020 | 209 |  | $ | 90.73 |  | $ | 19,010 |  |  | 283 |  | $ | 112.85 |  | $ | 31,907 |
(1) | The expired equity plan reflects the 2008 Stock Incentive Plan, which expired on August 19, 2018. The active equity plan reflects the 2018 Plan.
(2) | Under the expired equity plan, 175,022, 141,541, and 192,002 RSUs and PSUs vested and settled throughout the year at a weighted average fair values of $95.98, $81.23, and $62.88 per share in fiscal 2020, 2019 and 2018, respectively. Under the active equity plan, 20,240 and 900 RSUs vested and settled throughout the year at a weighted average fair value of $125.34 and $120.70 per share in fiscal 2020 and 2019, respectively.
Restricted Stock Awards and Performance Stock Awards A summary of Restricted Stock Award and Performance Stock Award activity and changes under our 2018 Plan are as follows:
| Restricted Stock Awards |  | Performance Stock Awards (2)
(in thousands, except per share data) | Restricted Stock Awards | Weighted Average Grant Date Fair Value (per share) | Fair Value at Grant Date |  | Restricted Stock Awards | Weighted Average Grant Date Fair Value (per share) | Fair Value at Grant Date
Outstanding at February 28, 2019 | — |  | $ | — |  | $ | — |  |  | — |  | $ | — |  | $ | — |
Granted | 49 |  | 118.51 |  | — |  |  | 122 |  | 110.85 |  | — |
Vested or Forfeited (1) | (4 | ) | 123.17 |  | — |  |  | (4 | ) | 110.85 |  | — |
Outstanding at February 29, 2020 | 45 |  | $ | 118.11 |  | $ | 5,354 |  |  | 118 |  | $ | 110.85 |  | $ | 13,130 |
(1) | Under the 2018 Plan, 1,014 Restricted Stock Awards vested and settled throughout the year at a weighted average fair value of $150.86 per share in fiscal 2020. There were no RSAs issued during fiscal 2019.
(2) Performance stock awards reflected in the table above assumes target (100%) achievement. These Performance stock awards can be paid out within some range of 0% to 200% depending upon the final outcome of the performance achievement.

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