Stock Option Plan and Stock Based Compensation (Tables)

12 Months Ended

Feb. 28, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Options

The following occurred with respect to the Company’s stock options for each of the three years ended February 28, 2022:

						Weighted
				Weighted		Average		Aggregate
	Number			Average		Remaining		Intrinsic
	of Shares			Exercise		Contractual		Value(a)
	(exact quantity)			Price		Life (in years)		(in thousands)
Outstanding at March 1, 2019		61,590		$	15.88		1.8	$	327
Granted		—			—
Terminated		—			—
Exercised		(61,590	)		15.88
Outstanding at February 29, 2020		—			—		—		—

(a)Intrinsic value is measured as the excess fair market value of the Company’s common stock as reported on the NYSE over the applicable exercise price.

Summary of Stock Options Exercised and Tax Benefits Realized from Stock Based Compensation

A summary of the stock options exercised and tax benefits realized from stock based compensation is presented below for the three fiscal years ended (in thousands):

	Fiscal years ended
	2022		2021		2020
Total grant-date fair value	$	—	$	—	$	201
Intrinsic value		—		—		267

Summary of Restricted Stock Awards and Restricted Stock Units Activity

The following occurred with respect to the Company’s restricted stock awards for each of the three fiscal years ended February 28, 2022:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2019		155,105		$	19.03
Granted		66,669			20.41
Terminated		(3,920	)		17.02
Vested		(73,928	)		18.90
Outstanding at February 29, 2020		143,926		$	19.79
Granted		59,315			17.09
Terminated		(10,098	)		19.00
Vested		(73,414	)		19.16
Outstanding at March 1, 2021		119,729		$	18.90
Granted		51,920			20.31
Terminated		—			—
Vested		(104,485	)		19.70
Outstanding at February 28, 2022		67,164		$	18.73

The following occurred with respect to the Company’s restricted stock units for each of the fiscal year ended February 28, 2022:

	Time-based					Performance-based
				Weighted					Weighted
				Average					Average
	Number of			Grant Date		Number of			Grant Date
	Shares			Fair Value		Shares			Fair Value
Outstanding at March 1, 2021		—		$	—		—		$	—
Granted		44,494			20.38		177,977			23.17
Terminated		(9,423	)		20.38		(37,690	)		23.17
Vested		—			—		—			—
Outstanding at November 30, 2021		35,071		$	20.38		140,287		$	23.17