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Stock Option Plan and Stock Based Compensation (Tables)
 6 Months Ended
Aug. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

The Company had the following stock option activity for the six months ended August 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

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, 2018

 

 

172,496

 

 

$

15.95

 

 

 

3.2

 

 

$

612

 

Granted

 

 

—

 

 

 

-

 

 

 

 

 

 

 

 

 

Terminated

 

 

—

 

 

 

-

 

 

 

 

 

 

 

 

 

Exercised

 

 

(110,906

)

 

 

15.99

 

 

 

 

 

 

 

 

 

Outstanding at August 31, 2018

 

 

61,590

 

 

$

15.88

 

 

 

2.3

 

 

$

364

 

Exercisable at August 31, 2018

 

 

61,590

 

 

$

15.88

 

 

 

2.3

 

 

$

364

 

 

(a)

Intrinsic value is measured as the excess of fair market value of the Company’s common stock as reported on the New York Stock Exchange 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 (in thousands):

 

 

 

Three months ended

 

 

Six months ended

 

 

 

August 31,

 

 

August 31,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Total cash received

 

$

69

 

 

$

—

 

 

$

69

 

 

$

—

 

Income tax benefits

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Total grant-date fair value

 

$

345

 

 

$

—

 

 

$

345

 

 

$

—

 

Intrinsic value

 

$

534

 

 

$

—

 

 

$

534

 

 

$

—

 

 
Summary of Unvested Stock Options

 

A summary of the Company’s unvested stock options at August 31, 2018 and the changes during the six months ended August 31, 2018 are presented below:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number

 

 

Grant Date

 

 

 

of Options

 

 

Fair Value

 

Unvested at March 1, 2018

 

 

1,616

 

 

$

2.24

 

New grants

 

 

—

 

 

 

—

 

Vested

 

 

(1,616

)

 

 

2.24

 

Forfeited

 

 

—

 

 

 

—

 

Unvested at August 31, 2018

 

 

—

 

 

 

—

 

 
Restricted Stock Grant Activity

The Company had the following restricted stock grant activity for the six months ended August 31, 2018:

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

Number of

 

 

Grant Date

 

 

Shares

 

 

Fair Value

 

Outstanding at February 28, 2018

 

152,675

 

 

$

16.59

 

Granted

 

83,789

 

 

 

20.54

 

Terminated

 

—

 

 

 

—

 

Vested

 

(80,692

)

 

 

16.02

 

Outstanding at August 31, 2018

 

155,772

 

 

$

19.01