STOCK-BASED COMPENSATION

9 Months Ended

Nov. 30, 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				Nine Months Ended
	November 30,				November 30,
	2017		2016		2017		2016
Cost of revenues	$	198	$	118	$	477	$	250
Research and development		427		274		1,045		811
Selling and marketing		677		536		1,610		1,234
General and administrative		1,318		1,136		3,532		3,374
	$	2,620	$	2,064	$	6,664	$	5,669

Changes in our outstanding stock options during the nine months ended November 30, 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	(53	)		2.74
Forfeited or expired	-			-
Outstanding at November 30, 2017	1,067		$	10.54
Exercisable at November 30, 2017	677		$	6.85

The weighted average remaining contractual term and the aggregate intrinsic value of outstanding options as of November 30, 2017 was 3.9 years and $13.1 million, respectively.

Changes in our outstanding restricted stock shares, performance stock units (“PSUs”) and restricted stock units (“RSUs”) during the nine months ended November 30, 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	731			19.35
Vested	(375	)		15.80
Forfeited	(134	)		17.37
Outstanding at November 30, 2017	1,461		$	17.55

During the nine months ended November 30, 2017 and 2016, we retained 127,151 and 110,815 shares of the vested restricted shares, RSUs and PSUs, respectively, to satisfy the minimum required statutory amount of employee withholding taxes.

As of November 30, 2017, there was $24.3 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 2.9 years.