XML 62 R42.htm IDEA: XBRL DOCUMENT v3.20.1
Share-Based Compensation Plans (Tables)
 12 Months Ended
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.