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Share-Based Compensation Plans (Tables)

12 Months Ended

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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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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