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Matters Concerning Shareholders' Equity (Tables)
12 Months Ended
Mar. 03, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Grants

A summary of stock option transactions related to the Company’s stock option grants during the three fiscal years is as follows:  

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Exercisable Shares

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

Fair Value

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Exercise

 

 

at Date of

 

 

Number

 

 

Exercise

 

 

 

Shares

 

 

Price

 

 

Grant

 

 

of Shares

 

 

Price

 

Outstanding at February 28, 2015

 

 

1,448,548

 

 

$

8.09

 

 

 

 

 

 

 

1,419,712

 

 

$

7.86

 

Options granted

 

 

15,500

 

 

 

14.04

 

 

$

3.98

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(77,500

)

 

 

7.46

 

 

 

 

 

 

 

 

 

 

 

 

 

Options cancelled or expired

 

 

(176,000

)

 

 

14.06

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at February 27, 2016

 

 

1,210,548

 

 

 

7.34

 

 

 

 

 

 

 

1,176,974

 

 

 

7.06

 

Options granted

 

 

23,000

 

 

 

6.99

 

 

 

2.85

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(966,500

)

 

 

6.71

 

 

 

 

 

 

 

 

 

 

 

 

 

Options cancelled or expired

 

 

(142,248

)

 

 

10.57

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at February 25, 2017

 

 

124,800

 

 

 

8.50

 

 

 

 

 

 

 

107,800

 

 

 

8.22

 

Options granted

 

 

320,469

 

 

 

6.68

 

 

 

3.21

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options cancelled or expired

 

 

(40,000

)

 

 

7.77

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at March 3, 2018

 

 

405,269

 

 

 

7.13

 

 

 

 

 

 

 

73,250

 

 

 

8.76

 

 

Shares Outstanding by Ranges of Exercise Prices

For options outstanding at March 3, 2018:

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted

 

 

Remaining

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Average

 

 

Contractual

 

 

Shares

 

 

Exercise Price-

 

 

 

Total

 

 

Exercise

 

 

Life (in

 

 

Currently

 

 

Exercisable

 

Ranges of Exercise Prices

 

Shares

 

 

Price

 

 

years)

 

 

Exercisable

 

 

Shares

 

$4.24 — $6.59

 

 

19,500

 

 

$

5.38

 

 

 

4.72

 

 

 

10,000

 

 

$

4.24

 

$6.68 — $11.47

 

 

371,569

 

 

 

6.83

 

 

 

7.95

 

 

 

52,725

 

 

 

7.68

 

$14.04 — $23.19

 

 

14,200

 

 

 

17.43

 

 

 

5.94

 

 

 

10,525

 

 

 

18.43

 

 

Share Repurchase Plan

Share repurchase plan — The following table summarizes the Company’s total repurchases of its common stock under the $200 million board-approved share repurchase program announced on April 10, 2014 (“April 2014 program”), for each of the last three fiscal years:

 

 

 

 

 

 

 

Shares Purchased

 

 

 

 

 

 

 

 

 

Date Program Announced

 

Authorized

Amount

 

 

Fiscal

2018

 

 

Fiscal

2017

 

 

Fiscal

2016

 

 

Weighted

Average

Cost

 

 

Remaining

Available as of

March 3, 2018

 

Apr. 10, 2014

 

$

200,000,000

 

 

 

1,926,602

 

 

 

1,794,053

 

 

 

7,460,935

 

 

$

10.58

(1)

 

$

26,610,135

 

 

(1)

Represents weighted average cost for all share repurchases under the April 2014 program.