Stock-Based Compensation

3 Months Ended

May 28, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Share-Based Compensation

Total share-based compensation expense included in the results of operations was $1.4 million and $1.0 million for the three-month periods ended May 28, 2016 and May 30, 2015, respectively.

Stock Options and SARs

There were no options or SARs issued in the first three months of either fiscal 2017 or 2016. The following table summarizes the award transactions for the three months ended May 28, 2016:

Stock Options and SARs	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at February 27, 2016	403,714		$	11.81
Awards exercised	(12,315	)	15.86
Outstanding and exercisable at May 28, 2016	391,399		$	11.69	4.4 Years	$	13,406,598

Cash proceeds from the exercise of stock options were $0.1 million and $1.3 million for the three months ended May 28, 2016 and May 30, 2015, respectively. The aggregate intrinsic value of securities exercised (the amount by which the stock price on the date of exercise exceeded the stock price of the award on the date of grant) was $0.3 million during the three months ended May 28, 2016 and $5.7 million during the prior-year period.

Nonvested Shares and Share Units

The following table summarizes nonvested share activity for the three months ended May 28, 2016:

Nonvested Shares and Units	Number of Shares and Units		Weighted Average Grant Date Fair Value
Nonvested at February 27, 2016	275,457		$	37.48
Granted	130,507		42.55
Vested	(76,759	)	34.32
Nonvested at May 28, 2016	329,205		$	40.23

At May 28, 2016, there was $10.4 million of total unrecognized compensation cost related to nonvested shares and nonvested share unit awards, which is expected to be recognized over a weighted average period of approximately 26 months. The total fair value of shares vested during the three months ended May 28, 2016 was $3.2 million.