Stock Option Plan and Stock Based Compensation (Tables)

12 Months Ended

Feb. 28, 2025

Share-Based Payment Arrangement [Abstract]

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, 2025:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2022		67,164		$	18.73
Granted		22,000			19.78
Terminated		—			—
Vested		(39,381	)		19.00
Outstanding at February 28, 2023		49,783		$	18.99
Granted		21,672			20.31
Terminated		—			—
Vested		(29,324	)		18.36
Outstanding at February 29, 2024		42,131		$	20.11
Granted		19,880			23.24
Terminated		—			—
Vested		(20,344	)		20.08
Outstanding at February 28, 2025		41,667		$	21.61

The following occurred with respect to the Company’s restricted stock units ("RSUs") for fiscal years 2023, 2024 and 2025:

	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, 2022		35,071		$	20.38		140,287		$	23.17
Granted		9,893			19.47		93,532			23.17
Terminated		—			—		—			—
Vested		(11,690	)		20.38		—			—
Outstanding at February 28, 2023		33,274		$	20.11		233,819		$	23.17
Granted		—			—		—			—
Terminated		—			—		(81,247	)		20.32
Vested		(16,635	)		20.11		—			—
Outstanding at February 29, 2024		16,639		$	20.11		152,572		$	23.17
Granted (1)		122,303			19.43		238,494			19.97
Change due to performance achievement		—			—		61,337			—
Terminated		(8,695	)		19.43		(29,462	)		19.97
Vested		(28,286	)		19.83		(224,114	)		22.59
Outstanding at February 28, 2025		101,961		$	19.43		198,827		$	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.

Summary of Assumptions Used and The Weighted Average Grant-Date Fair Value of The Stock Options Granted

The following is a summary of the assumptions used and the weighted average grant-date fair value of the stock options granted during the fiscal year ended February 29, 2024.

	February 29,
	2024
Expected volatility		19.55	%
Expected term (years)		3
Risk free interest rate		3.87	%
Dividend Yield		4.94	%
Weighted average grant-date fair value	$	2.47

Summary of Unvested Stock Options

A summary of the status of the Company’s unvested stock options at February 28, 2025 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		(8,334	)		2.47
Unvested at February 28, 2025		26,669		$	2.47

As of February 28, 2025, there was less than $0.1 million of unrecognized compensation cost related to unvested stock options granted under the Plan. The weighted average remaining requisite service period of the unvested stock options was 1.1 years. All outstanding options had an exercise price of $19.88.