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STOCK OWNERSHIP PLANS | 9 Months Ended
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May 31, 2025
Equity [Abstract] |
STOCK OWNERSHIP PLANS | STOCK OWNERSHIP PLANS The following table summarizes information about stock options:
(in thousands, except per share and weighted-average amounts) |  |  |  |  |  |
Activity for the nine months ended May 31, 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 |  | 374 |  |  | 32.72 |  |  |
Exercised |  | (73) |  |  | 13.56 |  |  |
Canceled/Forfeited |  | (222) |  |  | 41.36 |  |  |
Outstanding, May 31, 2025 |  | 1,985 |  |  | $ | 37.18 |  |  | 6.73 years
Vested and Exercisable, May 31, 2025 |  | 1,004 |  |  | $ | 35.34 |  |  | 5.11 years
Vested and Expected to Vest, May 31, 2025 |  | 1,904 |  |  | $ | 37.22 |  |  | 6.63 years
The total grant-date fair value of nonvested stock options as of May 31, 2025, was $18.6 million and is amortizable over a weighted-average period of 3.0 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 nine months ended May 31, 2025, and for the fiscal year ended August 31, 2024:
(in thousands, except weighted-average amounts) |  | Nine Months Ended May 31, 2025 |  | Fiscal Year 2024 |  |
Estimated fair value of awards granted |  | $ | 6,426 |  |  | $ | 11,902 |  |  |
Unvested forfeiture rate |  | 6.26 | % |  | 5.53 | % |  |
Weighted-average grant price |  | $ | 32.72 |  |  | $ | 40.76 |  |  |
Weighted-average market price |  | $ | 32.72 |  |  | $ | 40.76 |  |  |
Weighted-average volatility |  | 46.82 | % |  | 44.63 | % |  |
Weighted-average risk-free rate |  | 3.96 | % |  | 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 May 31, 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 |  |  | 92 |  |  | 0.74 years |  | $ | 9.71 |  |  | 92 |  |  | 0.74 years |  | $ | 9.71 |
$ | 9.78 |  |  | $ | 18.76 |  |  | 128 |  |  | 1.74 years |  | $ | 10.08 |  |  | 128 |  |  | 1.74 years |  | $ | 10.08 |
$ | 18.77 |  |  | $ | 33.40 |  |  | 481 |  |  | 7.74 years |  | $ | 30.66 |  |  | 146 |  |  | 3.92 years |  | $ | 26.09 |
$ | 33.41 |  |  | $ | 47.63 |  |  | 1,025 |  |  | 7.61 years |  | $ | 41.36 |  |  | 439 |  |  | 7.15 years |  | $ | 41.32 |
$ | 47.64 |  |  | $ | 66.14 |  |  | 259 |  |  | 5.96 years |  | $ | 55.94 |  |  | 199 |  |  | 5.68 years |  | $ | 57.07 |
|  |  |  | 1,985 |  |  | 6.73 years |  | $ | 37.18 |  |  | 1,004 |  |  | 5.11 years |  | $ | 35.34 |
During the three and nine months ended May 31, 2025, we issued 3,930 and 12,825 shares of stock valued at $0.1 million and $0.4 million, respectively, to our nonmanagement directors as compensation for board-related duties. During the three and nine months ended May 31, 2024, we issued 3,310 and 11,525 shares of stock valued at $0.2 million and $0.5 million, respectively, to our nonmanagement directors as compensation for board-related duties.

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