XML 32 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
Note 9 - Stockholders' Equity
 12 Months Ended
Aug. 31, 2016
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
9. STOCKHOLDERS’ EQUITY
 
On January 15, 2015, the Company’s Board of Directors authorized the repurchase of up to $3,000,000 in shares of common stock through open market purchases or unsolicited or solicited privately negotiated transactions. This program has no expiration date but may be terminated by the Company’s Board of Directors at any time. As of August 31, 2016, up to $2,836,656 in shares of common stock remained available for repurchase under the stock repurchase program. During fiscal 2016, the Company repurchased and retired 11,211 shares of its common stock at an average price of $12.40 per share. No stock options to purchase shares of common stock were exercised during fiscal 2016.
 
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 53,447 shares of its common stock to various employees and directors during fiscal 2016. The weighted average per share exercise price of the stock options is $14.85, which was equal to the fair market value of the Company’s common stock on the date of grant.
 
No stock options to purchase shares of common stock were exercised during fiscal 2016.
 
The following stock options to purchase shares of common stock were exercised during fiscal 2015:
 
Options
Exercised		   Exercise
Price
18,000   $ 9.76  
18,000     7.65  
2,333     10.20  
 
The total intrinsic value of the options exercised during fiscal 2015 was $297,696.
 
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 45,067 shares of its common stock to various employees and directors during fiscal 2015. The weighted average per share exercise price of the stock options is $20.10, which was equal to the fair market value of the Company’s common stock on the date of grant.