| | | | | | | | | | For the year ended | | For the year ended | | | | February 28, | | February 28, | | | | 2025 | | 2026 | | Risk-free interest rate(1) | | | 3.80 | % | | 3.97 | % | Expected life (years)(2) | | | 7.33-7.40 | | | 6.00 | | Expected dividend yield(3) | | | 0 | % | | 0 | % | Volatility(4) | | | 71.1%-71.4 | % | | 79.1 | % | Fair value of options at grant date per share(5) | | $ | 25.83 | | $ | 27.45 | |
| (1) | Risk-free interest rate |
Risk-free interest rate for periods within the contractual life of the option is based upon the U.S. treasury yield curve in effect at the time of grant. Assumption of the expected term is based on the vesting and contractual terms and employee demographics. | (3) | Expected dividend yield |
The dividend yield is estimated based on its expected dividend policy over the expected term of the options. The volatility assumption is estimated based on historical volatility of the Company’s share price applying the guidance provided by ASC 718 Stock Compensation. | (5) | No options were granted during the year ended February 29, 2024. |
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