Share-Based Compensation Plans

3 Months Ended

May 31, 2018

Note 7 – Share-Based Compensation Plans

We have equity awards outstanding under several share-based compensation plans. During the three months ended May 31, 2018, we had the following share-based compensation activity:

We issued 1,379 shares to non-employee Board members with a total grant date fair value of $0.1 million and a share price of $89.10.

We granted time-vested restricted stock units (“RSUs”) and performance-based stock units (“PSUs”) that may be settled for 70,141 and 76,064 shares of common stock with average fair values at the grant dates of $86.23 and $86.24 per unit, respectively.

Employee RSUs for 36,411 shares vested and settled with a total fair value at settlement of $3.2 million and an average share price of $89.09. Employee PSUs for 99,038 shares vested and settled with a total grant date fair value of $9.0 million, and an average share price of $90.80.

Employees exercised stock options to purchase 43,767 shares of common stock.

We recorded the following share-based compensation expense in SG&A for the periods shown below:


	Three Months Ended May 31,
(in thousands, except per share data)	2018		2017
Stock options	$	308	$	539
Directors stock compensation		175		200
Performance based and other stock awards		5,571		2,459
Employee stock purchase plan		322
Share-based compensation expense		6,376		3,198
Less income tax benefits		(270)		(490)
Share-based compensation expense, net of income tax benefits	$	6,106	$	2,708

Impact of share-based compensation on earnings per share from continuing operations:
Basic	$	0.23	$	0.10
Diluted	$	0.23	$	0.10