As part of our compensation structure, we grant share-based compensation awards to certain employees and non-employee members of our Board of Directors during the fiscal year. These awards may be subject to attainment of certain service conditions, performance conditions and/or market conditions. In connection with our annual grant during the first quarter of fiscal 2027, we granted 921,095 service condition awards (“Service Condition Awards”) with a weighted average grant date fair value of $16.47. Additionally, we granted 449,304 performance-based awards during the first quarter of fiscal 2027, of which 299,550 contained performance conditions (“Performance Condition Awards”) and 149,754 contained market conditions (“Market Condition Awards”), with weighted average grant date fair values of $16.47 and $12.35, respectively. Refer to our Form 10-K for further information on the Company’s share-based compensation plans.


	Three Months Ended August 31,				Six Months Ended August 31,
(in thousands)	2026		2025		2026		2025 (1)

Directors’ stock compensation	$	196	$	196	$	392	$	392
Service Condition Awards	3,544		6,627		7,403		10,568
Performance Condition Awards	716		1,664		1,755		(2,862)
Market Condition Awards	687		885		1,525		1,009
Employee stock purchase plan	—		—		505		561
Share-based compensation expense	5,143		9,372		11,580		9,668
Less: income tax benefits	(212)		(445)		(636)		(602)
Share-based compensation expense, net of income tax benefits	$	4,931	$	8,927	$	10,944	$	9,066

(1)Share-based compensation expense during the six months ended August 31, 2025 includes a benefit for Performance Condition Awards, as a result of a change in estimate from target achievement to zero percent achievement for Performance Condition Awards granted during fiscal 2024.

As of August 31, 2026, our total unrecognized share-based compensation for all awards was $21.2 million, which will be recognized over a weighted average amortization period of 2.2 years. The total unrecognized share-based compensation reflects an estimate of target achievement for outstanding Performance Condition Awards granted during both fiscal 2027 and 2026, and a weighted average estimate of 80% of target achievement for outstanding Performance Condition Awards granted during fiscal 2025.