Share-based Compensation (Tables)

12 Months Ended

Feb. 28, 2022

Share-based Payment Arrangement, Noncash Expense [Abstract]

A summary of the Company's RSU award activity (including DERs) for fiscal years 2022, 2021, and 2020 is as follows:


	2022			2021			2020
	Restricted Stock Units	Weighted Average Grant Date Fair Value		Restricted Stock Units	Weighted Average Grant Date Fair Value		Restricted Stock Units	Weighted Average Grant Date Fair Value
Outstanding at beginning of year	226,446	$	35.66	194,946	$	44.34	146,532	$	48.93
Granted	77,787	51.23		131,120	28.78		140,070	43.86
Vested	(84,060)	35.78		(70,913)	45.67		(84,595)	54.63
Forfeited	(6,075)	39.02		(28,707)	36.59		(7,061)	45.30
Outstanding at end of year	214,098	$	41.24	226,446	$	35.66	194,946	$	44.34
Vested and expected to vest at end of year	214,098	$	41.24	224,807	$	35.56	193,718	$	44.34

Share-based Payment Arrangement, Performance Shares, Outstanding Activity

A summary of the Company’s PSU award activity (including DERs) for fiscal years 2022, 2021, and 2020 is as follows:


	2022			2021			2020
	Performance Stock Units	Weighted Average Grant Date Fair Value		Performance Stock Units	Weighted Average Grant Date Fair Value		Performance Stock Units	Weighted Average Grant Date Fair Value
Outstanding at the beginning of year	143,584	$	39.96	109,936	$	47.75	83,125	$	49.74
Granted	55,114	63.39		69,955	33.22		49,000	46.19
Vested	(44,243)	54.00		—	—		—	—
Forfeited	—	—		(36,307)	50.57		(22,189)	55.08
Outstanding at the end of year	154,455	$	44.05	143,584	$	39.96	109,936	$	47.75

Stock Appreciation Rights and Option Awards

A summary of the Company’s SAR activity for fiscal years 2022, 2021 and 2020 is as follows:


	2022			2021			2020
	SARs	Weighted Average Exercise Price		SARs	Weighted Average Exercise Price		SARs	Weighted Average Exercise Price
Outstanding at beginning of year	5,435	$	45.25	94,826	$	44.58	98,184	$	44.46
Granted	—	—		—	—		—	—
Exercised	(5,435)	45.25		(45,902)	44.00		(2,965)	44.58
Forfeited	—	—		(43,489)	45.10		(393)	43.92
Outstanding at end of year	—	$	—	5,435	$	45.25	94,826	$	44.58
Exercisable at the end of year	—	$	—	5,435	$	45.25	94,826	$	44.58

Share-based compensation expense and related income tax

The following table shows share-based compensation expense and the related income tax benefit included in the consolidated statements of income for fiscal years 2022, 2021 and 2020 (in thousands):


	2022		2021		2020
Compensation expense	$	9,449	$	7,330	$	6,290
Income tax benefits	$	1,984	$	1,539	$	1,321