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SHAREHOLDERS’ EQUITY (Tables) | 9 Months Ended
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May 31, 2022
Equity [Abstract] |
Schedule of Common Stock Outstanding Roll Forward | Shares of common stock outstanding for the three and nine months ended May 31, 2022 and 2021 were as follows:
|  | Three Months Ended May 31, |  | Nine Months Ended May 31,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Common stock outstanding, beginning of the period |  | 20,181,784 |  |  | 20,059,528 |  |  | 20,141,521 |  |  | 19,923,277 |
Common stock issued during the period |  | 52,870 |  |  | 61,512 |  |  | 93,133 |  |  | 197,763 |
Common stock outstanding, end of the period |  | 20,234,654 |  |  | 20,121,040 |  |  | 20,234,654 |  |  | 20,121,040 |
Schedule of Dividends Payable | Our Board of Directors declared cash dividends during fiscal years 2022 and 2021. The details of the dividends paid are in the following tables:
(in thousands, except dividend per share) |  | Fiscal Year 2022 |  |  |  |
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  | Dividend per Share |  | Total Amount
10/25/2021 |  | 11/01/2021 |  | 20,148 |  |  | $ | 0.06 |  |  | 1,209 |
1/31/2022 |  | 2/07/2022 |  | 20,178 |  |  | $ | 0.06 |  |  | 1,211 |
4/25/2022 |  | 5/02/2022 |  | 20,207 |  |  | $ | 0.06 |  |  | 1,212 |
Total |  |  |  |  |  |  |  | $ | 3,632 |
(in thousands, except dividend per share) |  | Fiscal Year 2021 |  |  |  |
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  | Dividend per Share |  | Total Amount
10/26/2020 |  | 11/02/2020 |  | 19,924 |  |  | $ | 0.06 |  |  | $ | 1,195 |
1/25/2021 |  | 2/01/2021 |  | 20,010 |  |  | $ | 0.06 |  |  | 1,201 |
4/26/2021 |  | 5/03/2021 |  | 20,115 |  |  | $ | 0.06 |  |  | 1,207 |
7/26/2021 |  | 8/02/2021 |  | 20,139 |  |  | $ | 0.06 |  |  | 1,208 |
Total |  |  |  |  |  |  |  | $ | 4,811 |
Share-based Payment Arrangement, Option, Activity | The following table summarizes information about stock options:
(in thousands, except per share and weighted-average amounts) |  | Number of Options |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Life (Years)
Transactions during the nine months ended May 31, 2022 |  |  |
Outstanding, August 31, 2021 |  | 1,184 |  |  | $ | 25.63 |  |  | 6.47
Granted |  | 232 |  |  | $ | 41.40 |  |  |
Exercised |  | (76) |  |  | $ | 15.93 |  |  |
Cancelled/Forfeited |  | (64) |  |  | $ | 41.04 |  |  |
Outstanding, May 31, 2022 |  | 1,276 |  |  | $ | 28.31 |  |  | 6.33
Exercisable, May 31, 2022 |  | 722 |  |  | $ | 16.96 |  |  | 4.66
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | The following table summarizes the fair value of the options, including both ISOs and NQSOs, granted during the nine months ended May 31, 2022 and fiscal year 2021:
(in thousands except pricing) |  | Nine Months Ended May 31, 2022 |  | Fiscal Year 2021
Estimated fair value of awards granted |  | $ | 4,066 |  | $ | — |  | $ | 5,092 |
Unvested forfeiture rate |  | 1 | % |  | 0 | %
Weighted average grant price |  | $ | 41.40 |  |  | $ | 57.60 |
Weighted average market price |  | $ | 41.40 |  |  | $ | 57.60 |
Weighted average volatility |  | 42.71 | % |  | 40.49 | %
Weighted average risk-free rate |  | 1.62 | % |  | 0.64 | %
Weighted average dividend yield |  | 0.59 | % |  | 0.42 | %
Weighted average expected life |  | 6.59 years |  | 6.63 years
Share-based Payment Arrangement, Option, Exercise Price Range | The exercise prices for the options outstanding at May 31, 2022 ranged from $6.85 to $66.14, and the information relating to these options is as follows:
(in thousands except prices)
Exercise Price |  | Awards Outstanding |  | Awards Exercisable
Low |  | High |  | Quantity |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price |  | Quantity |  | Weighted Average Remaining Contractual Life |  | Weighted Average Exercise Price
$ | 6.85 |  |  | $ | 9.77 |  |  | 296 |  |  | 3.02 years |  | $ | 8.33 |  |  | 296 |  |  | 3.02 years |  | $ | 8.33 |
$ | 9.78 |  |  | $ | 18.76 |  |  | 208 |  |  | 4.58 years |  | $ | 10.37 |  |  | 207 |  |  | 4.58 years |  | $ | 10.35 |
$ | 18.77 |  |  | $ | 33.40 |  |  | 253 |  |  | 6.64 years |  | $ | 25.15 |  |  | 129 |  |  | 6.26 years |  | $ | 24.11 |
$ | 33.41 |  |  | $ | 47.63 |  |  | 240 |  |  | 8.86 years |  | $ | 38.37 |  |  | 34 |  |  | 7.31 years |  | $ | 35.75 |
$ | 47.64 |  |  | $ | 66.14 |  |  | 279 |  |  | 8.69 years |  | $ | 57.06 |  |  | 56 |  |  | 8.39 years |  | $ | 58.93 |
|  |  |  | 1,276 |  |  | 6.33 years |  | $ | 28.31 |  |  | 722 |  |  | 4.66 years |  | $ | 16.96 |

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