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Share-Based Compensation Plans | 6 Months Ended
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Aug. 31, 2020
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation Plans | Note 9 - Share-Based Compensation Plans We have equity awards outstanding under several share-based compensation plans. During the three and six month periods ended August 31, 2020, we had the following share-based compensation activity: •We issued 1,008 and 2,072 shares to non-employee Board members with a total grant date fair value of $0.2 million and $0.4 million, respectively, and average share prices of $180.72 and $175.86, respectively. •There were no grants of time-vested restricted stock units ("RSUs") during the three months ended August 31, 2020. For the six months ended August 31, 2020, we granted time-vested RSUs that may be settled for 2,708 shares of common stock. The RSUs have a weighted average grant price of $170.27 per share, for a total award fair value at date of grant of $0.5 million. •We granted time-vested restricted stock awards ("RSAs") that may be vested for 1,724 and 37,972 shares of common stock, respectively. The RSAs have a weighted average grant price of $189.95 and $171.24 per share, respectively, for a total award fair value at date of grant of $0.3 million and $6.5 million, respectively. •There were no grants of performance-based stock units ("PSUs") during the three months ended August 31, 2020. During the six months ended August 31, 2020, we granted PSUs that may be settled for 4,970 shares of common stock. The PSUs have a weighted average grant price of $170.27 per share, for a total award fair value at date of grant of $0.8 million. •There were no grants of performance-based restricted stock awards ("PSAs") during the three months ended August 31, 2020. During the six months ended August 31, 2020, we granted PSAs that are targeted to be vested for 86,004 shares of common stock. The PSAs have a weighted average grant price of $170.27 per share, for a total award fair value at date of grant of $14.6 million. •RSUs for 661 and 46,752 shares vested and settled, respectively, with a total fair value at settlement of $0.1 million and $7.7 million and an average share price of $185.93 and $164.78, respectively. •There were no PSUs that vested and settled during the three months ended August 31, 2020. During the six months ended August 31, 2020, PSUs for 112,720 shares vested and settled, with a total settlement date fair value of $18.6 million, and an average share price of $164.58. •RSAs for 1,862 and 7,324 shares vested, respectively, with a total fair value at settlement of $0.4 million and $1.3 million, respectively, and an average share price of $197.02 and $172.56, respectively. •Employees exercised stock options to purchase 4,250 and 12,690 shares of common stock, respectively. •There were no purchases of common stock under the employee stock purchase plan during the three months ended August 31, 2020. During the six months ended August 31, 2020, there were purchases of 14,566 shares of common stock under the employee stock purchase plan at an average price of $130.48 per share. We recorded the following share-based compensation expense in SG&A for the periods shown below:
| Three Months Ended August 31, |  |  |  | Six Months Ended August 31, |  |
(in thousands, except per share data) | 2020 |  | 2019 |  | 2020 |  | 2019
Stock options | $ | 3 |  |  | $ | 35 |  |  | $ | 15 |  |  | $ | 151 |
Directors stock compensation | 182 |  |  | 141 |  |  | 364 |  |  | 281 |
Performance based and other stock awards | 4,439 |  |  | 6,205 |  |  | 13,050 |  |  | 13,228 |
Employee stock purchase plan | — |  |  | — |  |  | 486 |  |  | 325 |
Share-based compensation expense | 4,624 |  |  | 6,381 |  |  | 13,915 |  |  | 13,985 |
Less income tax benefits | (397) |  |  | (514) |  |  | (1,003) |  |  | (1,091) |
Share-based compensation expense, net of income tax benefits | $ | 4,227 |  |  | $ | 5,867 |  |  | $ | 12,912 |  |  | $ | 12,894 |
Impact of share-based compensation on EPS: |  |  |  |  |  |  |
Basic | $ | 0.17 |  |  | $ | 0.23 |  |  | $ | 0.51 |  |  | $ | 0.51 |
Diluted | $ | 0.17 |  |  | $ | 0.23 |  |  | $ | 0.51 |  |  | $ | 0.51 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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