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Share-Based Compensation Plans (Tables)
 12 Months Ended
Feb. 28, 2022
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 authorized2,000,000 
Less share awards issued(12,911)
Plus forfeitures147,853 
Less RSUs, RSAs, PSUs and PSAs issued and issuable upon vesting(612,312)
Less maximum PSUs and PSAs issued and issuable upon vesting (1)(281,361)
Shares available for issuance at February 28, 20221,241,269 

(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)202220212020
Stock options$— $19 $189 
Directors stock compensation644 685 604 
Service Condition Awards11,177 7,941 8,419 
Performance Condition Awards17,260 16,796 12,932 
Market Condition Awards4,234 — — 
Employee stock purchase plan1,303 977 785 
Share-based compensation expense34,618 26,418 22,929 
Less: income tax benefits(2,965)(1,926)(1,803)
Share-based compensation expense, net of income tax benefits$31,653 $24,492 $21,126 
Summary of option activity A summary of stock option activity under our 2008 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 28, 2021
48 $70.42 2.5$6,866 
Exercises(23)72.58 3,560 
Outstanding at February 28, 2022
25 $68.27 1.6$3,232 
Exercisable at February 28, 2022
25 $68.27 1.6$3,232 
Summary of award activity A summary of Service Condition Awards activity during fiscal 2022 follows:
(in thousands, except per share data)Number of
Service Condition Awards		Weighted Average
Grant Date Fair Value
(per share)
Outstanding at February 28, 2021
126 $129.52 
Granted93 218.35 
Vested(65)116.22 
Forfeited(16)192.26 
Outstanding at February 28, 2022
138 $188.11 
A summary of Performance Condition Awards activity during fiscal 2022 follows:
(in thousands, except per share data)Number of Performance Condition Awards Weighted Average
Grant Date Fair Value
(per share)
Outstanding at February 28, 2021 (1)
470 $129.53 
Granted (1) (2)140 216.20 
Vested (1) (2)(134)86.25 
Forfeited(25)148.16 
Outstanding at February 28, 2022
451 $148.66 

(1)Includes PSUs granted during fiscal 2019 at Target and PSAs granted during fiscal 2020, 2021 and 2022 at maximum achievement of 200% of Target.

(2)Includes an additional 68 shares, which resulted from the performance of the fiscal 2019 awards exceeding Target.
A summary of Market Condition Awards activity during fiscal 2022 follows:
(in thousands, except per share data)Number of Market Condition Awards Weighted Average
Grant Date Fair Value
(per share)
Outstanding at February 28, 2021
— 129.53 $— 
Granted (1)72 170.27 156.08 
Vested— 97.05 — 
Forfeited(4)$155.62 156.08 
Outstanding at February 28, 2022
68 $129.53 $156.08 

(1)Includes PSAs granted during fiscal 2022 at maximum achievement of 200% of Target.
Fair value measurement inputs and valuation techniques The input variables utilized are included in the table below:
Fiscal Year Ended February 28, 2022
Expected term in years3
Risk free interest rate0.3 %
Expected volatility 38.9 %
Expected dividend yield (1)— %

(1)The Monte Carlo method assumes a reinvestment of dividends.