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Share-Based Compensation Plans
 9 Months Ended
Nov. 30, 2021
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation Plans
Note 5 - Share-Based Compensation Plans

As part of our compensation structure, we grant share-based compensation awards to certain employees and non-employee members of our Board of Directors during the fiscal year. These awards may be subject to attainment of certain service conditions, performance conditions and/or market conditions. During the first quarter of fiscal 2022, we granted 83,227 service condition awards (“Service Condition Awards”) with a weighted average grant date fair value of $219.02. Additionally, we granted 143,340 performance-based awards during the first quarter of fiscal 2022, of which 71,670 contained performance conditions (“Performance Condition Awards”) and 71,670 contained market conditions (“Market Condition Awards”) with weighted average grant date fair values of $216.20 and $156.08, respectively. Refer to our Form 10-K for further information on the Company's share-based compensation plans.

We recorded share-based compensation expense in SG&A as follows:
 Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2021202020212020
Stock options$— $3 $— $18 
Directors stock compensation160 161 483 525 
Service Condition Awards3,117 1,677 8,353 5,261 
Performance Condition Awards1,622 4,407 14,706 13,873 
Market Condition Awards1,115 — 3,504 — 
Employee stock purchase plan535 491 1,303 977 
Share-based compensation expense6,549 6,739 28,349 20,654 
Less income tax benefits(784)(403)(2,355)(1,406)
Share-based compensation expense, net of tax$5,765 $6,336 $25,994 $19,248 

Unrecognized Share-Based Compensation Expense

As of November 30, 2021, our total unrecognized share-based compensation for all awards was $33.8 million, which will be recognized over a weighted average amortization period of 2.2 years. The total unrecognized share-based compensation reflects an estimate of target achievement for Performance Condition Awards granted during the first quarter of fiscal 2022 and fiscal 2021, and a weighted average estimate of 175% of target achievement for Performance Condition Awards granted in fiscal 2020.