| STOCK OWNERSHIP PLANS |
STOCK OWNERSHIP PLANS The following table summarizes information about stock options: | | | | | | | | | | | | | | | | | | | | | | (in thousands, except per share and weighted-average amounts) | | | | | | | | Activity for the nine months ended May 31, 2026 | | Number of
Options | | Weighted-Average
Exercise Price
Per Share | | Weighted-Average
Remaining
Contractual Life | | Outstanding, August 31, 2025 | | 1,924 | | | $ | 36.98 | | | 6.52 years | | Granted | | 716 | | | 15.99 | | | | | Exercised | | (70) | | | 9.74 | | | | | Canceled/Forfeited | | (154) | | | 31.22 | | | | | Outstanding, May 31, 2026 | | 2,416 | | | $ | 31.92 | | | 7.01 years | | Vested and Exercisable, May 31, 2026 | | 1,102 | | | $ | 38.62 | | | 5.19 years | | Vested and Expected to Vest, May 31, 2026 | | 2,274 | | | $ | 32.53 | | | 6.89 years |
The total grant-date fair value of nonvested stock options as of May 31, 2026, was $17.7 million and is amortizable over a weighted-average period of 2.9 years. The fair value of these options was estimated at the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-valuation model was developed for use in estimating the fair value of stock options, which do not have vesting restrictions and are fully transferable. In addition, option-valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The following table summarizes the fair value of the options, including both ISOs and NQSOs, granted during the nine months ended May 31, 2026, and for the fiscal year ended August 31, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands, except weighted-average amounts) | | Nine Months Ended May 31, 2026 | | Fiscal Year 2025 | | | | Estimated fair value of awards granted | | $ | 6,394 | | | $ | 6,597 | | | | | Unvested forfeiture rate | | 6.94 | % | | 6.29 | % | | | | Weighted-average grant price | | $ | 15.99 | | | $ | 32.01 | | | | | Weighted-average market price | | $ | 15.99 | | | $ | 32.01 | | | | | Weighted-average volatility | | 52.31 | % | | 47.03 | % | | | | Weighted-average risk-free rate | | 3.68 | % | | 3.95 | % | | | | Weighted-average dividend yield | | 0.00 | % | | 0.00 | % | | | | Weighted-average expected life | | 6.60 years | | 6.61 years | | |
The exercise prices for the options outstanding at May 31, 2026, ranged from $18.77 to $66.14 per share, and the information relating to these options is as follows: (in thousands except prices and weighted-average amounts) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Exercise Price Per Share | | Awards Outstanding | | Awards Exercisable | | Low | | High | | Quantity | | Weighted -Average
Remaining
Contractual
Life | | Weighted-Average
Exercise
Price | | Quantity | | Weighted-Average
Remaining
Contractual
Life | | Weighted-Average
Exercise
Price | | $ | 9.78 | | | $ | 18.76 | | | 814 | | | 8.16 years | | $ | 15.14 | | | 115 | | | 0.74 years | | $ | 10.07 | | | $ | 18.77 | | | $ | 33.40 | | | 444 | | | 6.82 years | | $ | 30.55 | | | 201 | | | 4.85 years | | $ | 28.48 | | | $ | 33.41 | | | $ | 47.63 | | | 936 | | | 6.60 years | | $ | 41.36 | | | 585 | | | 6.33 years | | $ | 41.39 | | | $ | 47.64 | | | $ | 66.14 | | | 222 | | | 4.89 years | | $ | 56.23 | | | 201 | | | 4.72 years | | $ | 56.92 | | | | | | | | | | | | | | | | | | | | | | 2,416 | | | 7.01 years | | $ | 31.92 | | | 1,102 | | | 5.19 years | | $ | 38.62 | |
|