Share-based Compensation (Tables)

12 Months Ended

Feb. 28, 2023

Share-based Payment Arrangement, Noncash Expense [Abstract]

A summary of the Company's RSU award activity (including DERs) for fiscal years 2023, 2022, and 2021 is as follows:


	Year Ended February 28,
	2023			2022			2021
	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	214,098	$	41.24	226,446	$	35.66	194,946	$	44.34
Granted	148,595	44.60		77,787	51.23		131,120	28.78
Vested	(136,197)	41.16		(84,060)	35.78		(70,913)	45.67
Forfeited	(25,527)	43.72		(6,075)	39.02		(28,707)	36.59
Outstanding at end of year	200,969	$	43.50	214,098	$	41.24	226,446	$	35.66
Vested and expected to vest at end of year	200,969	$	43.50	214,098	$	41.24	224,807	$	35.56

Share-based Payment Arrangement, Performance Shares, Outstanding Activity

A summary of the Company’s PSU award activity (including DERs) for fiscal years 2023, 2022, and 2021 is as follows:


	Year Ended February 28,
	2023			2022			2021
	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	154,455	$	44.05	143,584	$	39.96	109,936	$	47.75
Granted	76,020	38.42		55,114	63.39		69,955	33.22
Vested	(63,021)	43.22		(44,243)	54.00		—	—
Forfeited	(14,908)	48.41		—	—		(36,307)	50.57
Outstanding at the end of year	152,546	$	48.51	154,455	$	44.05	143,584	$	39.96

Stock Appreciation Rights and Option Awards

A summary of the Company’s SAR activity for fiscal years 2023, 2022 and 2021 is as follows:


	Year Ended February 28,
	2023			2022			2021
	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
Granted	—	—		—	—		—	—
Exercised	—	—		(5,435)	45.25		(45,902)	44.00
Forfeited	—	—		—	—		(43,489)	45.10
Outstanding at end of year	—	$	—	—	$	—	5,435	$	45.25
Exercisable at the end of year	—	$	—	—	$	—	5,435	$	45.25

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 2023, 2022 and 2021 (in thousands):


	2023		2022		2021
Compensation expense	$	8,382	$	9,449	$	7,330
Income tax benefits	$	1,539	$	1,984	$	1,539