STOCK-BASED COMPENSATION

6 Months Ended

Aug. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

STOCK-BASED COMPENSATION

NOTE 9 – STOCK-BASED COMPENSATION

Stock-based compensation expense is included in the following captions of the condensed consolidated statements of comprehensive income (loss) (in thousands):

	Three Months Ended				Six Months Ended
	August 31,				August 31,
	2017		2016		2017		2016
Cost of revenues	$	141	$	68	$	279	$	132
Research and development		384		356		618		537
Selling and marketing		547		403		933		698
General and administrative		1,155		794		2,214		2,238
	$	2,227	$	1,621	$	4,044	$	3,605

Changes in our outstanding stock options during the six months ended August 31, 2017 were as follows (options in thousands):

			Weighted
	Number of		Average
	Options		Exercise Price
Outstanding at February 28, 2017	955		$	8.60
Granted	165			19.31
Exercised	(45	)		2.85
Forfeited or expired	-			-
Outstanding at August 31, 2017	1,075		$	10.48
Exercisable at August 31, 2017	685		$	6.79

The weighted average remaining contractual term and the aggregate intrinsic value of outstanding options as of August 31, 2017 was 4.0 years and $8.8 million, respectively.

Changes in our outstanding restricted stock shares, performance stock units (“PSUs”) and restricted stock units (“RSUs”) during the six months ended August 31, 2017 were as follows (restricted shares, PSUs and RSUs in thousands):

	Number of
	Restricted		Weighted
	Shares, PSUs		Average Grant
	and RSUs		Date Fair Value
Outstanding at February 28, 2017	1,239		$	15.94
Granted	679			19.24
Vested	(360	)		15.74
Forfeited	(101	)		17.44
Outstanding at May 31, 2017	1,457		$	17.43

During the six months ended August 31, 2017 and 2016, we retained 156,731 and 97,267 shares of the vested restricted shares, RSUs and PSUs, respectively, to satisfy the minimum required statutory amount of employee withholding taxes.

As of August 31, 2017, there was $26.4 million of total unrecognized stock-based compensation cost related to outstanding nonvested equity awards that is expected to be recognized as expense over a weighted-average remaining vesting period of 3.1 years.