Share-based Compensation (Tables)

12 Months Ended

Feb. 29, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

A summary of RSU award activity (including DERs) for fiscal years 2024, 2023, and 2022 is as follows:


	Year Ended February 29/28,
	2024			2023			2022
	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	200,969	$	43.50	214,098	$	41.24	226,446	$	35.66
Granted	132,644	38.41		148,595	44.60		77,787	51.23
Vested	(102,077)	41.27		(136,197)	41.16		(84,060)	35.78
Forfeited	(950)	45.69		(25,527)	43.72		(6,075)	39.02
Outstanding at end of year	230,586	$	41.53	200,969	$	43.50	214,098	$	41.24
Vested and expected to vest at end of year	230,586	$	41.53	200,969	$	43.50	214,098	$	41.24

Share-based Payment Arrangement, Performance Shares, Outstanding Activity

A summary of PSU award activity (including DERs) for fiscal years 2024, 2023, and 2022 is as follows:


	Year Ended February 29/28,
	2024			2023			2022
	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	152,546	$	48.51	154,455	$	44.05	143,584	$	39.96
Granted	80,285	42.93		76,020	38.42		55,114	63.39
Vested	(42,868)	33.22		(63,021)	43.22		(44,243)	54.00
Forfeited	(21,985)	33.22		(14,908)	48.41		—	—
Outstanding at the end of year	167,978	$	51.64	152,546	$	48.51	154,455	$	44.05
Vested and expected to vest at end of year	167,978	$	51.64	152,546	$	48.51	154,455	$	44.05

Stock Appreciation Rights and Option Awards

A summary of SAR activity for fiscal years 2024, 2023 and 2022 is as follows:


	Year Ended February 29/28,
	2024			2023			2022
	SARs	Weighted Average Exercise Price		SARs	Weighted Average Exercise Price		SARs	Weighted Average Exercise Price
Outstanding at beginning of year	—	$	—	—	$	—	5,435	$	45.25
Granted	—	—		—	—		—	—
Exercised	—	—		—	—		(5,435)	45.25
Forfeited	—	—		—	—		—	—
Outstanding at end of year	—	$	—	—	$	—	—	$	—
Exercisable at the end of year	—	$	—	—	$	—	—	$	—

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 2024, 2023 and 2022 (in thousands):


	2024		2023		2022
Compensation expense	$	9,510	$	8,382	$	9,449
Income tax benefits	$	1,969	$	1,539	$	1,984