Share-Based Compensation

9 Months Ended

Nov. 30, 2019

Share-based Payment Arrangement [Abstract]

Total share-based compensation expense included in the results of operations was $4.6 million for the nine-month period ended November 30, 2019 and $4.7 million for the nine-month period ended December 1, 2018.

Stock options and SARs

Stock option and SAR activity for the current nine-month period is summarized as follows:



Stock options and SARs	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at March 2, 2019	100,341	$	8.34
Awards exercised	—	—
Outstanding and exercisable at November 30, 2019	100,341	8.34		1.8 years	$	3,000,196

No awards were exercised for the nine-months ended November 30, 2019. For the nine-months ended December 1, 2018, cash proceeds from the exercise of stock options were $0.2 million and the aggregate intrinsic value of securities exercised (the amount by which the stock price on the date of exercise exceeded the stock price of the award on the date of grant) was $0.6 million.

Nonvested shares and share units

Nonvested share activity for the current nine-month period is summarized as follows:



Nonvested shares and units	Number of Shares and Units		Weighted Average Grant Date Fair Value
Nonvested at March 2, 2019	286,613		$	47.00
Granted	125,571		39.53
Vested	(128,333	)	49.00
Canceled	(3,000	)	43.08
Nonvested at November 30, 2019	280,851		42.78

At November 30, 2019, there was $6.9 million of total unrecognized compensation cost related to nonvested share and nonvested share unit awards, which is expected to be recognized over a weighted average period of approximately 20 months. The total fair value of shares vested during the nine months ended November 30, 2019 was $5.1 million.