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Accounting for Stock-Based Compensation
3 Months Ended
Aug. 31, 2014
Accounting for Stock-Based Compensation  
Accounting for Stock-Based Compensation

Note 3 — Accounting for Stock-Based Compensation

 

Restricted Stock

 

In July 2014, as part of our annual long-term stock incentive compensation, we granted 192,250 shares of performance-based restricted stock and 95,956 shares of time-based restricted stock to eligible employees.  The grant date fair value per share for both grants was $26.08.  In June 2014, we also granted 45,000 shares of time-based restricted stock to members of the Board of Directors with a grant date fair value per share of $24.50.  Expense charged to operations for restricted stock during the three-month periods ended August 31, 2014 and 2013 was $1.3 million and $1.1 million, respectively.

 

Stock Options

 

The total intrinsic value of stock options exercised during the three-month periods ended August 31, 2014 and 2013 was $1.0 million and $2.6 million, respectively.  Expense charged to operations for stock options during the three-month periods ended August 31, 2014 and 2013 was $0.7 million and $0.5 million, respectively.  No stock options were granted during the three-month period ended August 31, 2014.