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Stock Option Plan and Stock Based Compensation (Tables)
3 Months Ended
May 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

The Company had the following stock option activity for the three months ended May 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Aggregate

 

 

 

Number

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

of Shares

 

 

Exercise

 

 

Contractual

 

 

Value(a)

 

 

 

(exact quantity)

 

 

Price

 

 

Life (in years)

 

 

(in thousands)

 

Outstanding at March 1, 2018

 

 

172,496

 

 

$

15.95

 

 

 

3.2

 

 

$

612

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Terminated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at May 31, 2018

 

 

172,496

 

 

$

15.95

 

 

 

3.0

 

 

$

405

 

Exercisable at May 31, 2018

 

 

172,496

 

 

$

15.95

 

 

 

3.0

 

 

$

405

 

 

(a)

Intrinsic value is measured as the excess of fair market value of the Company’s common stock as reported on the New York Stock Exchange over the applicable exercise price.

Summary of Unvested Stock Options

A summary of the Company’s unvested stock options at May 31, 2018 and the changes during the three months ended May 31, 2018 are presented below:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number

 

 

Grant Date

 

 

 

of Options

 

 

Fair Value

 

Unvested at March 1, 2018

 

 

1,616

 

 

$

2.24

 

New grants

 

 

 

 

 

 

Vested

 

 

(1,616

)

 

 

2.24

 

Forfeited

 

 

 

 

 

 

Unvested at May 31, 2018

 

 

 

 

 

 

 

Restricted Stock Grant Activity

The Company had the following restricted stock grant activity for the three months ended May 31, 2018:

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

Number of

 

 

Grant Date

 

 

Shares

 

 

Fair Value

 

Outstanding at March 1, 2018

 

152,675

 

 

$

16.59

 

Granted

 

72,612

 

 

 

20.35

 

Terminated

 

 

 

 

 

Vested

 

(80,692

)

 

 

16.02

 

Outstanding at May 31, 2018

 

144,595

 

 

$

18.80