Stock-Based Awards

9 Months Ended

Nov. 29, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Awards

STOCK-BASED AWARDS

The Company recognized pre-tax stock-based compensation expense (included primarily in Selling and administrative expenses in the Condensed Consolidated Statements of Operations) related to stock options, restricted stock units, restricted stock awards and performance awards (collectively referred to as “stock-based awards”) of $5 and $3 for the third quarters of fiscal 2015 and 2014, respectively, and $18 for the year-to-date periods ended November 29, 2014 and November 30, 2013. In the year-to-date period ended November 30, 2013, the Company recognized $9 of accelerated stock-based compensation charges in Selling and administrative expenses as a result of a deemed change-in-control, which occurred as a result of the sale of NAI.

Stock Options

In May 2014 and May 2013, the Company granted 5 and 9 of non-qualified stock options, respectively, to certain employees under the Company’s 2012 Stock Plan with weighted average grant date fair values of $3.28 per share and $2.78 per share, respectively. The stock options vest over a period of three years, and were awarded as part of a broad-based employee incentive program designed to retain and motivate employees across the Company.

The Company used the Black-Scholes option pricing model to estimate the fair value of the options at grant date based upon the following assumptions:

	Year-To-Date Ended
	November 29, 2014	November 30, 2013
Dividend yield	—%	—%
Volatility rate	50.8—53.2%	49.3—51.3%
Risk-free interest rate	1.2—1.6%	0.6—1.0%
Expected life	4.0—5.0 years	4.0—6.0 years

Restricted Stock Units

In the first quarter of fiscal 2015, the Company granted 2 restricted stock units (“RSUs”) to certain employees under the 2012 Stock Plan. The RSUs vest over a three year period from the date of grant and were granted at a fair value of $7.50 per unit.