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Stock Option Plan and Stock Based Compensation (Tables) | 12 Months Ended
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Feb. 28, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Restricted Stock Awards and Restricted Stock Units Activity | The following occurred with respect to the Company’s restricted stock awards for each of the three fiscal years ended February 28, 2025:
|  |  |  | Weighted |
|  |  |  | Average |
| Number of |  |  | Grant Date |
| Shares |  |  | Fair Value |
Outstanding at March 1, 2022 |  | 67,164 |  |  | $ | 18.73 |
Granted |  | 22,000 |  |  |  | 19.78 |
Terminated |  | — |  |  |  | — |
Vested |  | (39,381 | ) |  |  | 19.00 |
Outstanding at February 28, 2023 |  | 49,783 |  |  | $ | 18.99 |
Granted |  | 21,672 |  |  |  | 20.31 |
Terminated |  | — |  |  |  | — |
Vested |  | (29,324 | ) |  |  | 18.36 |
Outstanding at February 29, 2024 |  | 42,131 |  |  | $ | 20.11 |
Granted |  | 19,880 |  |  |  | 23.24 |
Terminated |  | — |  |  |  | — |
Vested |  | (20,344 | ) |  |  | 20.08 |
Outstanding at February 28, 2025 |  | 41,667 |  |  | $ | 21.61 |
The following occurred with respect to the Company’s restricted stock units ("RSUs") for fiscal years 2023, 2024 and 2025:
| Time-based |  |  | Performance-based |
|  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  | Average |  |  |  |  |  | Average |
| Number of |  |  | Grant Date |  |  | Number of |  |  | Grant Date |
| Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Outstanding at March 1, 2022 |  | 35,071 |  |  | $ | 20.38 |  |  |  | 140,287 |  |  | $ | 23.17 |
Granted |  | 9,893 |  |  |  | 19.47 |  |  |  | 93,532 |  |  |  | 23.17 |
Terminated |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Vested |  | (11,690 | ) |  |  | 20.38 |  |  |  | — |  |  |  | — |
Outstanding at February 28, 2023 |  | 33,274 |  |  | $ | 20.11 |  |  |  | 233,819 |  |  | $ | 23.17 |
Granted |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Terminated |  | — |  |  |  | — |  |  |  | (81,247 | ) |  |  | 20.32 |
Vested |  | (16,635 | ) |  |  | 20.11 |  |  |  | — |  |  |  | — |
Outstanding at February 29, 2024 |  | 16,639 |  |  | $ | 20.11 |  |  |  | 152,572 |  |  | $ | 23.17 |
Granted (1) |  | 122,303 |  |  |  | 19.43 |  |  |  | 238,494 |  |  |  | 19.97 |
Change due to performance achievement |  | — |  |  |  | — |  |  |  | 61,337 |  |  |  | — |
Terminated |  | (8,695 | ) |  |  | 19.43 |  |  |  | (29,462 | ) |  |  | 19.97 |
Vested |  | (28,286 | ) |  |  | 19.83 |  |  |  | (224,114 | ) |  |  | 22.59 |
Outstanding at February 28, 2025 |  | 101,961 |  |  | $ | 19.43 |  |  |  | 198,827 |  |  | $ | 19.97 |
(1) The number of shares of time-based grants may, upon vesting, convert 50% into common stock and the remaining 50% into two incentive stock options for each RSU with an exercise price equal to the closing price of the Company's stock on that date for employees who have not met their stock ownership requirements. The number of shares of performance-based grants includes an estimate 55,037 of additional RSUs at the maximum achievement level of 130% of target payout. Actual shares that may be issued can range from 0% to 130% of target.
Summary of Assumptions Used and The Weighted Average Grant-Date Fair Value of The Stock Options Granted | The following is a summary of the assumptions used and the weighted average grant-date fair value of the stock options granted during the fiscal year ended February 29, 2024.
|  | February 29, |
|  | 2024 |
Expected volatility |  |  | 19.55 | %
Expected term (years) |  |  | 3 |
Risk free interest rate |  |  | 3.87 | %
Dividend Yield |  |  | 4.94 | %
Weighted average grant-date fair value |  | $ | 2.47 |
Summary of Unvested Stock Options | A summary of the status of the Company’s unvested stock options at February 28, 2025 are presented below:
|  |  |  |  | Weighted |
|  |  |  |  | Average |
|  | Number |  |  | Grant Date |
|  | of Options |  |  | Fair Value |
Unvested at March 1, 2024 |  |  | 52,500 |  |  | $ | 2.47 |
New grants |  |  | — |  |  |  | — |
Vested |  |  | (17,497 | ) |  |  | 2.47 |
Forfeited |  |  | (8,334 | ) |  |  | 2.47 |
Unvested at February 28, 2025 |  |  | 26,669 |  |  | $ | 2.47 |
As of February 28, 2025, there was less than $0.1 million of unrecognized compensation cost related to unvested stock options granted under the Plan. The weighted average remaining requisite service period of the unvested stock options was 1.1 years. All outstanding options had an exercise price of $19.88.

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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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