XML 23 R12.htm IDEA: XBRL DOCUMENT v3.22.2
STOCK BASED COMPENSATION
 3 Months Ended
May 31, 2022
Equity [Abstract]  
STOCK BASED COMPENSATION

NOTE 6: STOCK BASED COMPENSATION

 

During the three months ended May 31, 2022, the Company granted options to acquire 1,408 shares to employees at an exercise price of $5.80. The options granted to employees vest over three years and expire ten years from the date of issuance. The options granted during the three months ended May 31, 2022 had a grant date fair value of $3.55 per share.

 

The weighted-average fair value of options are estimated on the date of grant using the Black-Scholes options-pricing model. The weighted-average Black-Scholes assumptions are as follows:

 

Weighted-average Black-Scholes assumptions

  Three Months Ended
May 31, 2022
Expected Life 8 years
Risk free interest rate 2.82%
Expected volatility 55.02%
Expected dividend yield 0%

 

For the three months ended May 31, 2022 and 2021, net income and earnings per share reflect the actual expense for stock-based compensation. The impact of applying ASC 718 approximated $69,000 and $22,000 in compensation expense during the three months ended May 31, 2022 and 2021, respectively.