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Stock Option and Stock Award Plans (Tables)
12 Months Ended
Feb. 28, 2015
Stock Options and Stock Awards  
Schedule of weighted average assumptions used for options granted

 

                                                                                                                                                                                    

 

 

2015

 

2014

 

2013

Expected stock price volatility(1)

 

74% 

 

85% 

 

85% 

Expected dividend yield(2)

 

0.00% 

 

0.00% 

 

0.00% 

Risk-free interest rate(3)

 

1.70% 

 

1.45% 

 

0.71% 

Expected option life(4)

 

5.5 years

 

5.5 years

 

5.5 years


 

(1)

 

The expected volatility is based on the historical volatility of the stock price over the most recent period equal to expected life of the option

(2)

 

The dividend rate that will be paid out on the underlying shares during the expected term of the options. The Company does not currently pay dividends on its common stock, as such, the dividend rate is assumed to be zero percent.

(3)

 

The risk free interest rate is equal to the rate available on United States Treasury zero-coupon issues as of the grant date of the option with a remaining term equal to the expected term.

(4)

 

The period of time for which the option is expected to be outstanding. The Company analyzed historical exercise behavior.

 

Schedule of stock option transactions

 

                                                                                                                                                                                    

 

 

Shares

 

Weighted
Average
Exercise
Price
Per Share

 

Weighted
Average
Remaining
Contractual
Term

 

Aggregate
Intrinsic
Value

 

Outstanding at March 3, 2012

 

 

73,798

 

$

1.52

 

 

 

 

 

 

 

Granted

 

 

12,020

 

 

1.32

 

 

 

 

 

 

 

Exercised

 

 

(1,535

)

 

1.06

 

 

 

 

 

 

 

Cancelled

 

 

(3,283

)

 

2.08

 

 

 

 

 

 

 

​  

​  

​  

​  

Outstanding at March 2, 2013

 

 

81,000

 

$

1.48

 

 

 

 

 

 

 

​  

​  

​  

​  

Granted

 

 

4,828

 

 

2.76

 

 

 

 

 

 

 

Exercised

 

 

(26,873

)

 

1.24

 

 

 

 

 

 

 

Cancelled

 

 

(2,989

)

 

2.46

 

 

 

 

 

 

 

​  

​  

​  

​  

Outstanding at March 1, 2014

 

 

55,966

 

$

1.65

 

 

 

 

 

 

 

​  

​  

​  

​  

Granted

 

 

3,097

 

 

7.04

 

 

 

 

 

 

 

Exercised

 

 

(16,485

)

 

1.46

 

 

 

 

 

 

 

Cancelled

 

 

(910

)

 

3.16

 

 

 

 

 

 

 

​  

​  

​  

​  

Outstanding at February 28, 2015

 

 

41,668

 

$

2.09

 

 

6.05

 

$

245,237

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Vested or expected to vest at February 28, 2015

 

 

40,422

 

$

2.09

 

 

6.01

 

$

237,899

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Exercisable at February 28, 2015

 

 

25,375

 

$

1.74

 

 

5.05

 

$

158,240

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of restricted stock transactions

 

                                                                                                                                                                                    

 

 

Shares

 

Weighted
Average
Grant Date
Fair Value

 

Balance at March 3, 2012

 

 

11,506

 

$

1.20

 

Granted

 

 

5,450

 

 

1.31

 

Vested

 

 

(3,917

)

 

1.18

 

Cancelled

 

 

(362

)

 

1.26

 

​  

​  

​  

​  

Balance at March 2, 2013

 

 

12,677

 

$

1.25

 

​  

​  

​  

​  

Granted

 

 

2,743

 

 

2.79

 

Vested

 

 

(4,152

)

 

1.23

 

Cancelled

 

 

(1,212

)

 

1.48

 

​  

​  

​  

​  

Balance at March 1, 2014

 

 

10,056

 

$

1.66

 

​  

​  

​  

​  

Granted

 

 

3,303

 

 

7.01

 

Vested

 

 

(5,239

)

 

1.54

 

Cancelled

 

 

(454

)

 

5.00

 

​  

​  

​  

​  

Balance at February 28, 2015

 

 

7,666

 

$

3.84

 

​  

​  

​  

​  

​  

​  

​  

​  

​