STOCK BASED COMPENSATION

12 Months Ended

Feb. 28, 2015

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

STOCK BASED COMPENSATION

NOTE 12 – STOCK-BASED COMPENSATION

Restricted Stock Units

During fiscal 2014 and fiscal 2013, the Company granted an aggregate of 1,202,380 and 326,000 Restricted Stock Units (“RSUs”), respectively, to certain employees and executives. The Company generally grants RSUs that are subject to continued employment and service based vesting conditions, but do not have dividend or voting rights. The RSUs vest in various increments typically on the anniversaries of the individual grant dates, through December 31, 2017, subject to the recipient’s continued employment or service through each applicable vesting date. The Company uses the fair-market value of the Company’s Common Stock on the date the award is approved.

The Company recognized compensation expense in the consolidated statement of operations related to stock-based compensation for the period from February 10, 2015 to February 28, 2015 in the amount of $0.1 million which was net of $0.2 million that was capitalized as part of real estate under development.

The Company’s RSU activity is as follows:

	Year Ended February 28, 2015				Year Ended March 1, 2014
	Number of Shares		Weighted Average Fair Value at Grant Date		Number of Shares		Weighted Average Fair Value at Grant Date
Non-vested at beginning of period		76,000	$	6.49		-	$	0.00
Granted RSUs		1,202,380	$	6.48		326,000	$	5.35
Vested		(25,417)	$	6.49		(250,000)	$	5.00
Forfeited		(8,500)	$	6.75		-	$	0.00
Non-vested at end of period		1,244,463	$	6.48		76,000	$	6.49

As of February 28, 2015, the unrecognized compensation expense related to non-vested RSUs is approximately $4.7 million which is expected to be recognized through December 31, 2017, the current end of the vesting periods.