Stock Option Plan and Stock Based Compensation (Tables)

12 Months Ended

Feb. 29, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Awards and Restricted Stock Units Activity

The following occurred with respect to the Company’s restricted stock awards for each of the three fiscal years ended February 29, 2024:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2021		119,729		$	18.90
Granted		51,920			20.30
Terminated		—			19.00
Vested		(104,485	)		19.70
Outstanding at February 28, 2022		67,164		$	18.73
Granted		22,000			19.78
Terminated		—			19.78
Vested		(39,381	)		19.00
Outstanding at February 28, 2023		49,783		$	18.99
Granted		21,672			20.31
Terminated		—			—
Vested		(29,324	)		18.36
Outstanding at February 29, 2024		42,131		$	20.11

The following occurred with respect to the Company’s restricted stock units ("RSUs") for fiscal years 2022, 2023 and 2024:

	Time-based					Performance-based
				Weighted					Weighted
				Average					Average
	Number of			Grant Date		Number of			Grant Date
	Shares			Fair Value		Shares			Fair Value
Outstanding at March 1, 2021		—		$	—		—		$	—
Granted		44,494			20.38		177,977			23.17
Terminated		(9,423	)		20.38		(37,690	)		23.17
Vested		—			—		—			—
Outstanding at February 28, 2022		35,071		$	20.38		140,287			23.17
Granted		9,893			19.47		93,532			23.17
Terminated		—			—		—			—
Vested		(11,690	)		20.38		—			—
Outstanding at February 28, 2023		33,274		$	20.11		233,819		$	23.17
Granted		—			—		—			—
Terminated		—			—		(81,247	)		20.32
Vested		(16,635	)		20.11		—			—
Outstanding at February 29, 2024		16,639		$	20.11		152,572		$	23.17

Summary of Assumptions Used and The Weighted Average Grant-Date Fair Value of The Stock Options Granted

The following is a summary of the assumptions used and the weighted average grant-date fair value of the stock options granted during the fiscal year ended February 29, 2024.

	February 29,
	2024
Expected volatility		19.55	%
Expected term (years)		3
Risk free interest rate		3.87	%
Dividend Yield		4.94	%
Weighted average grant-date fair value	$	2.47

Summary of Unvested Stock Options

A summary of the status of the Company’s unvested stock options at February 29, 2024 are presented below:

			Weighted
			Average
	Number		Grant Date
	of Options		Fair Value
Unvested at March 1, 2023		—		—
New grants		52,500		2.47
Vested		—		—
Forfeited		—		—
Unvested at February 29, 2024		52,500		2.47