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Stock Plans (Tables)
12 Months Ended
Mar. 03, 2012
Fair Values Determined using Black-Scholes Option-Pricing Model with Weighted Average Assumptions

The fair values for all years were determined using a Black-Scholes option-pricing model with the following weighted average assumptions:

 

     2012     2011     2010  

Dividend yield

     1.12     1.02     2.18

Volatility

     57.8     57.6     54.5

Risk-free interest rate

     1.98     2.18     1.69

Expected life

     4.8 years        4.6 years        4.5 years   
Reconciliation of Stock Option Activity

A reconciliation of the Company’s stock option activity and related information is as follows:

 

     Number of
Shares
    Weighted
Average
Exercise Price
Per Share
     Weighted
Average
Remaining
Contractual Life
(Years)
     Aggregate
Intrinsic
Value
 

Outstanding at February 26, 2011

     3,396,673      $ 10.41         

Granted

     491,766        19.58         

Exercised

     (1,490,177     10.76          $ 14,698,000   

Forfeited

     (57,613     14.86         
  

 

 

   

 

 

       

Outstanding at March 3, 2012

     2,340,649      $ 12.00         6.4       $ 27,189,000   
  

 

 

   

 

 

       

Exercisable at March 3, 2012

     870,692      $ 12.13         3.9       $ 9,854,000   
Outstanding and Exercisable Options

The following table summarizes information concerning outstanding and exercisable options at March 3, 2012:

 

Range of

Exercise Prices

   Number
Outstanding
     Weighted-Average
Remaining
Contractual Life
     Weighted-Average
Exercise Price
     Number
Exercisable
     Weighted-Average
Exercise Price
 

$ 1-$ 5

     223,500         6.0       $ 4.51         95,500       $ 4.51   

$ 5-$10

     753,286         6.2         6.27         215,493         6.14   

$10-$15

     530,401         6.8         13.19         196,264         13.25   

$15-$25

     833,462         6.4         18.45         363,435         17.07   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     2,340,649         6.4       $ 12.00         870,692       $ 12.13   
Reconciliation of Restricted Stock Activity

A reconciliation of the Company’s restricted stock activity and related information is as follows:

 

     Number of
Shares
    Weighted Average
Grant Date
Fair Value
 

Unvested at February 26, 2011

     747,241      $ 7.95   

Granted

     273,556        19.92   

Vested

     (429,955     5.84   

Forfeited

     (30,682     17.11   
  

 

 

   

 

 

 

Unvested at March 3, 2012

     560,160      $ 14.90