Stock Based Compensation (Tables)

9 Months Ended

Nov. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The Company had the following stock option activity for the nine months ended November 30, 2024.

						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, 2024		52,500		$	19.88		10.0		—
Granted		—			—
Terminated		(2,500	)		19.88
Exercised		(8,749	)		19.88
Outstanding at November 30, 2024		41,251		$	19.88		8.4	$	59.8
Exercisable at November 30, 2024		7,915		$	19.88		8.4	$	11.5

Summary of Unvested Stock Options

A summary of the status of the Company’s unvested stock options at November 30, 2024 and the changes during the nine months ended November 30, 2024 are presented below:

		Weighted
		Average
	Number	Grant Date
	of Options	Fair Value
Unvested at March 1, 2024	52,500	2.47
New grants	—	—
Vested	(17,497)	2.47
Forfeited	(1,667)	2.47
Unvested at November 30, 2024	33,336	2.47

Summary of Restricted Stock Awards and Restricted Stock Units Activity

The following activity occurred with respect to the Company’s restricted stock awards for the nine months ended November 30, 2024:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2024		42,131		$	20.11
Granted		19,880			23.24
Terminated		—			—
Vested		(20,344	)		20.08
Outstanding at November 30, 2024		41,667		$	21.61

The following activity occurred with respect to the Company’s restricted stock units for the nine months ended November 30, 2024:

	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, 2024		16,639		$	20.11		152,572		$	23.17
Granted (1)		122,303			19.43		238,494			19.97
Change due to vested performance achievement		—			—		61,337			—
Terminated		—			—		—			—
Vested		(16,639	)		20.11		(213,909	)		22.72
Outstanding at November 30, 2024		122,303		$	19.43		238,494		$	19.97

(1) The number of shares of time-based grants may, upon vesting, convert 50% into common stock and the remaining 50% into two incentive stock options for each RSU with an exercise price equal to the closing price of the Company's stock on that date for employees who have not met their stock ownership requirements. The number of shares of performance-based grants includes an estimate 55,037 of additional RSUs at the maximum achievement level of 130% of target payout. Actual shares that may be issued can range from 0% to 130% of target.