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Note 9 - Stockholders' Equity
12 Months Ended
Aug. 31, 2017
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, 2017,
up to
$2,640,548
in shares of common stock remained available for repurchase under the stock repurchase program.
 
During fiscal
2017,
the Company repurchased and retired
14,525
shares of its common stock at an average price of
$13.51
per share. During fiscal
2017,
stock options to purchase an aggregate of
12,000
shares of common stock at an exercise price of
$10.25
per share were exercised.
 
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
56,677
shares of its common stock to various employees and directors during fiscal
2017.
The weighted average per share exercise price of the stock options is
$13.40,
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 Company granted stock options under 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.