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Note 7 - Stockholders' Equity
 9 Months Ended
May 31, 2012
Stockholders' Equity Note Disclosure [Text Block]
7.           STOCKHOLDERS’ EQUITY

During the nine months ended May 31, 2012, the Company did not purchase or retire any shares of its common stock.  The following stock options to purchase shares of common stock were exercised during the nine months ended May 31, 2012:

Options Exercised
   
Exercise Price
 
  1,966     $ 7.65  

The Company granted stock options under the Northern Technologies International Corporation Amended and Restated 2007 Stock Incentive Plan (the 2007 Plan) to purchase an aggregate of 26,000 shares of its common stock to directors during the nine months ended May 31, 2012.  The per share exercise price of the stock options is $16.45, which is equal to the fair market value of the Company’s common stock on the date of grant.
During the nine months ended May 31, 2012, the Company granted stock bonuses under the 2007 Plan for an aggregate of 42,707 shares of its common stock to various employees at a grant price of $14.42 per share.  The aggregate fair value of the shares of the Company’s common stock as of the date of grant of the stock bonuses was $615,830, based on the closing sale price of a share of the Company’s common stock on the date of grant. The fair value of common stock bonuses granted during the nine months ended May 31, 2012 was based on fiscal 2011 performance and was included in accrued liabilities at August 31, 2011.

During the nine months ended May 31, 2011, the Company did not purchase or retire any shares of its common stock.  The following stock options to purchase shares of common stock were exercised during the nine months ended May 31, 2011:

Options Exercised
   
Exercise Price
 
  40,000     $ 5.38  
  2,000       7.65  
  666       7.75  
  2,000       8.01  
  4,000       8.57  
  1,334       9.75  
  4,000       9.76  
  5,333       12.84  

The Company granted stock options under the 2007 Plan to purchase an aggregate of 30,000 shares of its common stock to various employees and directors during the nine months ended May 31, 2011.  During the nine months ended May 31, 2011, the Company granted stock bonuses under the 2007 Plan for an aggregate of 22,686 shares of its common stock to various employees.  The fair value of the shares of the Company’s common stock as of the date of grant of the stock bonuses was $319,649, based on the closing sale price of a share of the Company’s common stock on the date of grant. The fair value of common stock bonuses granted during the nine months ended May 31, 2011 was based on fiscal 2010 performance and was included in accrued liabilities at August 31, 2010.