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SHAREHOLDERS' EQUITY | 6 Months Ended
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Feb. 28, 2025
Equity [Abstract] |
SHAREHOLDERS' EQUITY | SHAREHOLDERS' EQUITY Shares Outstanding Shares of Company's common stock outstanding for the three and six months ended February 28, 2025, and February 29, 2024, were as follows:
|  | Three Months Ended |  | Six Months Ended |  |
(in thousands) |  | February 28, 2025 |  | February 29, 2024 |  | February 28, 2025 |  | February 29, 2024 |  |
Common stock outstanding, beginning of period |  | 20,085 |  |  | 19,966 |  |  | 20,051 |  |  | 19,938 |  |  |
Common stock issued during the period |  | 26 |  |  | 18 |  |  | 60 |  |  | 46 |  |  |
Common stock outstanding, end of period |  | 20,111 |  |  | 19,984 |  |  | 20,111 |  |  | 19,984 |  |  |
The following table summarizes information about stock options:
(in thousands, except per share and weighted-average amounts) |  |  |  |  |  |
Activity for the six months ended February 28, 2025 |  | Number of Options |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Life
Outstanding, August 31, 2024 |  | 1,906 |  |  | $ | 37.64 |  |  | 6.91 years
Granted |  | 356 |  |  | 33.18 |  |  |
Exercised |  | (71) |  |  | 13.50 |  |  |
Canceled/Forfeited |  | (97) |  |  | 42.94 |  |  |
Outstanding, February 28, 2025 |  | 2,094 |  |  | $ | 37.46 |  |  | 7.05 years
Vested and Exercisable, February 28, 2025 |  | 990 |  |  | $ | 35.16 |  |  | 5.31 years
Vested and Expected to Vest, February 28, 2025 |  | 1,997 |  |  | $ | 37.49 |  |  | 6.95 years
The total grant-date fair value of nonvested stock options as of February 28, 2025, was $21.1 million and is amortizable over a weighted-average period of 3.20 years. The fair value of these options was estimated at the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-valuation model was developed for use in estimating the fair value of stock options, which do not have vesting restrictions and are fully transferable. In addition, option-valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The following table summarizes the fair value of the options, including both ISOs and NQSOs, granted during the six months ended February 28, 2025, and for the fiscal year ended August 31, 2024:
(in thousands, except weighted-average amounts) |  | Six Months Ended February 28, 2025 |  | Fiscal Year 2024 |  |
Estimated fair value of awards granted |  | $ | 6,190 |  |  | $ | 11,902 |  |  |
Unvested forfeiture rate |  | 6.26 | % |  | 5.53 | % |  |
Weighted-average grant price |  | $ | 33.18 |  |  | $ | 40.76 |  |  |
Weighted-average market price |  | $ | 33.18 |  |  | $ | 40.76 |  |  |
Weighted-average volatility |  | 46.93 | % |  | 44.63 | % |  |
Weighted-average risk-free rate |  | 3.95 | % |  | 4.77 | % |  |
Weighted-average dividend yield |  | 0.00 | % |  | 0.59 | % |  |
Weighted-average expected life |  | 6.61 years |  | 6.59 years |  |
The exercise prices for the options outstanding at February 28, 2025, ranged from $6.85 to $66.14 per share, and the information relating to these options is as follows: (in thousands except prices and weighted-average amounts)
Exercise Price Per Share |  | 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 |  |  | 93 |  |  | 0.99 years |  | $ | 9.71 |  |  | 93 |  |  | 0.99 years |  | $ | 9.71 |
$ | 9.78 |  |  | $ | 18.76 |  |  | 128 |  |  | 1.99 years |  | $ | 10.08 |  |  | 128 |  |  | 1.99 years |  | $ | 10.08 |
$ | 18.77 |  |  | $ | 33.40 |  |  | 498 |  |  | 8.02 years |  | $ | 31.07 |  |  | 147 |  |  | 4.16 years |  | $ | 26.05 |
$ | 33.41 |  |  | $ | 47.63 |  |  | 1,101 |  |  | 7.90 years |  | $ | 41.36 |  |  | 429 |  |  | 7.36 years |  | $ | 41.32 |
$ | 47.64 |  |  | $ | 66.14 |  |  | 274 |  |  | 6.32 years |  | $ | 55.65 |  |  | 193 |  |  | 5.89 years |  | $ | 57.33 |
|  |  |  | 2,094 |  |  | 7.05 years |  | $ | 37.46 |  |  | 990 |  |  | 5.31 years |  | $ | 35.16 |
During the three and six months ended February 28, 2025, and February 29, 2024, respectively, we issued 3,935 and 8,895 shares of stock valued at $0.1 million and $0.3 million, respectively, to our nonmanagement directors as compensation for board-related duties. The Company's par-value common stock and additional paid-in capital as of February 28, 2025, were $11 thousand and $156.2 million, respectively. Share Repurchases No share repurchases were made during the three and six months ended February 28, 2025,

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