Note 13 - Share-Based Compensation

9 Months Ended

Feb. 28, 2014

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

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

13.  SHARE-BASED COMPENSATION

The Company has granted nonvested restricted stock, stock options, and stock appreciation rights to key employees and directors under several stock award plans. The Company granted stock awards with an aggregate fair value of approximately $0.2 million and $0.7 million during the third quarter and nine months ended February 28, 2014 and $1.0 million and $1.9 million during the third quarter and nine months ended February 28, 2013, respectively. As of February 28, 2014, a total of 94,873 shares were available for future grants.

Stock-based compensation is recognized on a straight-line basis over the requisite service period for restricted stock and stock option awards. The Company recognized expense of $0.4 million and $1.2 million in the three months and nine months ended February 28, 2014 and $0.3 million and $1.2 million in the three months and nine months ended February 28, 2013, respectively, before income tax benefits, for all of the Company’s stock plans. As of February 28, 2014, there was $4.1 million of total unrecognized compensation cost related the Company’s stock plans that will be recognized over approximately 2.6 years.

As of February 28, 2014 there was no expense or liability recognized related to the stock appreciation rights granted as management has determined that a liquidity event (the performance condition) is not considered probable. The fair value of the liability relating to cash-settled stock appreciation rights was approximately $3.1 million as of February 28, 2014.