Note 6 - Shareholders' Equity

12 Months Ended

Feb. 27, 2022

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

6. SHAREHOLDERS’ EQUITY

Treasury Stock – On January 8, 2015, the Company announced that its Board of Directors had authorized the Company’s purchase, on the open market and in privately negotiated transactions, of up to 1,250,000 shares of its common stock, representing approximately 6% of the Company’s 20,945,634 total outstanding shares as of the close of business on January 7, 2015. This authorization superseded all prior Board of Directors’ authorizations to purchase shares of the Company’s common stock.

On March 10, 2016, the Company announced that its Board of Directors authorized the Company’s purchase, on the open market and in privately negotiated transactions, of up to 1,000,000 additional shares of its common stock, in addition to the unused prior authorization to purchase shares of the Company’s common stock announced on January 8, 2015. During the 2016 fiscal year, the Company purchased 599,832 shares pursuant to the above authorizations at an aggregate purchase price of $12,187. In 2021, the Company purchased 137,397 shares pursuant to the above authorization at an aggregate purchase price of $1,644. As a result, the Company is authorized to purchase up to a total of 1,394,015 shares of its common stock, representing approximately 6.8% of the Company’s 20,458,210 total outstanding shares as of the close of business on February 27, 2022.

Reserved Common Shares – At February 27, 2022, 1,123,450 shares of common stock were reserved for issuance upon exercise of stock options.

Accumulated Other Comprehensive Earnings (Loss) – Accumulated balances related to each component of other comprehensive earnings were as follows:

	February 27, 2022			February 28, 2021
Unrealized losses on investments, net of taxes of $1,629 and $1,004, respectively	$	(1,965	)	$	(336	)
Accumulated balance	$	(1,965	)	$	(336	)