Share-Based Compensation

3 Months Ended

Jun. 01, 2019

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

Total share-based compensation expense included in the results of operations was $1.6 million for the three-month period ended June 1, 2019 and $1.5 million for the three-month period ended June 2, 2018.

Stock options and SARs

Stock option and SAR activity for the current three-month period is summarized as follows:



Stock options and SARs	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
Outstanding at March 2, 2019	100,341	$	8.34
Awards exercised	—	—
Outstanding and exercisable at June 1, 2019	100,341	8.34		2.3 years	$	2,800,517

No awards were exercised for the three-months ended June 1, 2019. For the three-months ended June 2, 2018, cash proceeds from the exercise of stock options were $0.2 million and 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 $0.6 million.

Nonvested shares and share units

Nonvested share activity for the current three-month period is summarized as follows:



Nonvested shares and units	Number of Shares and Units		Weighted Average Grant Date Fair Value
Nonvested at March 2, 2019	286,613		$	47.00
Granted	80,571		39.50
Vested	(73,771	)	45.09
Canceled	(1,500	)	47.35
Nonvested at June 1, 2019	291,913		45.41

At June 1, 2019, there was $8.2 million of total unrecognized compensation cost related to nonvested share and nonvested share unit awards, which is expected to be recognized over a weighted average period of approximately 24 months. The total fair value of shares vested during the three months ended June 1, 2019 was $3.0 million.