Share-Based Compensation

6 Months Ended

Feb. 28, 2017

Share-Based Compensation [Abstract]

Share-Based Compensation

Note 11 – Share-Based Compensation

The Company’s current share-based compensation plans, approved by the stockholders of the Company, provides for awards of stock options, restricted shares, restricted stock units (“RSUs”), stock appreciation rights, performance shares and performance stock units (“PSUs”) to employees and non-employee directors of the Company.  The Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. Share-based compensation expense was $0.9 million and $0.6 million for the three months ended February 28, 2017 and February 29, 2016, respectively.  Share-based compensation expense was $1.8 million and $1.5 million for the six months ended February 28, 2017 and February 29, 2016, respectively.

During the second quarter of fiscal 2017, the Company awarded its annual grant of RSUs to independent members of the Board of Directors at a grant date fair value of $74.47 per share, which resulted in a total of 7,427 RSUs being granted.  These RSUs are scheduled to become fully vested on November 1, 2017 and were issued from the Company’s 2015 Long-Term Incentive Plan.