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Stock Option Plan and Stock Based Compensation (Tables)
3 Months Ended
May 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity

The Company had the following stock option activity for the three months ended May 31, 2017:

 

     Number
of Shares
(exact quantity)
     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Life 
(in years)
     Aggregate
Intrinsic
Value(a)
(in thousands)
 

Outstanding at March 1, 2017

     172,496      $ 15.95        4.2      $ 223  

Granted

     —          —          

Terminated

     —          —          

Exercised

     —          —          
  

 

 

          

Outstanding at May 31, 2017

     172,496      $ 15.95        4.0      $ 200  
  

 

 

          

Exercisable at May 31, 2017

     170,880      $ 15.97        3.9      $ 196  
  

 

 

          

 

(a) Intrinsic value is measured as the excess of fair market value of the Company’s common stock as reported on the New York Stock Exchange over the applicable exercise price.
Summary of Stock Options Exercised and Tax Benefits Realized from Stock Based Compensation

A summary of the stock options exercised and tax benefits realized from stock based compensation is presented below (in thousands):

 

     Three months ended  
     May 31,  
     2017      2016  

Total cash received

   $ —        $ 2,910  

Income tax benefits

     —          —    

Total grant-date fair value

     —          532  

Intrinsic value

     —          969  
Summary of Unvested Stock Options

A summary of the Company’s unvested stock options at May 31, 2017 and the changes during the three months ended May 31, 2017 are presented below:

 

     Number
of Options
     Weighted
Average
Grant Date
Fair Value
 

Unvested at March 1, 2017

     5,073      $ 2.41  

New grants

     —          —    

Vested

     (3,457      2.48  

Forfeited

     —          —    
  

 

 

    

Unvested at May 31, 2017

     1,616      $ 2.24  
  

 

 

    
Restricted Stock Grant Activity

The Company had the following restricted stock grant activity for the three months ended May 31, 2017:

 

     Number of
Shares
     Weighted
Average
Grant Date
Fair Value
 

Outstanding at March 1, 2017

     166,546      $ 16.35  

Granted

     74,900        16.30  

Terminated

     —          —    

Vested

     (85,189      15.87  
  

 

 

    

Outstanding at May 31, 2017

     156,257      $ 16.60