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Share-Based Compensation Plans (Tables) | 12 Months Ended
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Feb. 28, 2021
Share-based Payment Arrangement [Abstract] |
Summary of shares available for issue under the 2018 Plan | A summary of shares available for issue under the 2018 Plan follows:
Shares originally authorized | 2,000,000 |
Less share awards issued | (10,083) |
Plus forfeitures | 105,611 |
Less share awards previously vested and settled | — |
Subtotal | 2,095,528 |
Less RSUs, RSAs, PSUs and PSAs issuable upon vesting | (444,973) |
Less maximum PSUs and PSAs issuable upon vesting (1) | (208,406) |
Shares available for issuance at February 28, 2021 | 1,442,149 |
(1)Reflects incremental PSUs and PSAs issuable upon vesting between achievement of plan target at 100% and maximum achievement of 200% of plan target, adjusted for actual forfeitures to date.
Schedule of share-based compensation expense in SG&A | We recorded share-based compensation expense in SG&A as follows:
| Fiscal Years Ended Last Day of February,
(in thousands) | 2021 |  | 2020 |  | 2019
Stock options | $ | 19 |  |  | $ | 189 |  |  | $ | 829 |
Directors stock compensation | 685 |  |  | 604 |  |  | 526 |
Performance based and other stock awards | 24,737 |  |  | 21,351 |  |  | 20,047 |
Employee stock purchase plan | 977 |  |  | 785 |  |  | 651 |
Share-based compensation expense | 26,418 |  |  | 22,929 |  |  | 22,053 |
Less: income tax benefits | (1,926) |  |  | (1,803) |  |  | (1,395) |
Share-based compensation expense, net of income tax benefits | $ | 24,492 |  |  | $ | 21,126 |  |  | $ | 20,658 |
Summary of option activity | A summary of stock option activity under our expired plan is as follows:
(in thousands, except contractual term and per share data) | Options |  | Weighted Average Exercise Price (per share) |  |  |  | Weighted Average Remaining Contractual Term (in years) |  | Intrinsic Value
Outstanding at February 29, 2020 | 69 |  |  | $ | 71.78 |  |  |  |  | 3.2 |  | $ | 6,333 |
Exercises | (21) |  |  | 74.76 |  |  |  |  |  |  | 2,782 |
Outstanding at February 28, 2021 | 48 |  |  | $ | 70.42 |  |  |  |  | 2.5 |  | $ | 6,866 |
Exercisable at February 28, 2021 | 48 |  |  | $ | 70.42 |  |  |  |  | 2.5 |  | $ | 6,866 |
Summary of award activity | A summary of Restricted Share Award activity during fiscal 2021 follows:
(in thousands, except per share data) | Number of Restricted Share Awards |  | Weighted Average Grant Date Fair Value (per share) |  |  |  |  |  |
Outstanding at February 29, 2020 | 168 |  |  | $ | 106.17 |  |  |  |  |  |  |
Granted | 50 |  |  | 179.30 |  |  |  |  |  |  |
Vested | (78) |  |  | 110.50 |  |  |  |  |  |  |
Forfeited | (14) |  |  | 132.69 |  |  |  |  |  |  |
Outstanding at February 28, 2021 | 126 |  |  | $ | 129.52 |  |  |  |  |  |  |
A summary of Performance Share Award activity during fiscal 2021 follows:
(in thousands, except per share data) | Number of Performance Share Awards |  | Weighted Average Grant Date Fair Value (per share) |  |  |  |  |
Outstanding at February 29, 2020 (1) | 370 |  |  | $ | 104.82 |  |  |  |  |  |
Granted (1) | 221 |  |  | 170.27 |  |  |  |  |  |
Vested (2) | (56) |  |  | 97.05 |  |  |  |  |  |
Forfeited | (65) |  |  | 155.62 |  |  |  |  |  |
Outstanding at February 28, 2021 | 470 |  |  | $ | 129.53 |  |  |  |  |  |
(1)Includes PSUs granted during fiscal 2019 at Target and PSAs granted during fiscal 2020 and fiscal 2021 at maximum achievement of 200% of Target. (2)Excludes the vesting of an additional 56 shares, which resulted from the performance of the fiscal 2018 awards exceeding Target.

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