The third Monday in February means a day off school for many students, and a day off work for employees.

But what does the federal holiday really stand for, other than a day off in the middle of winter and sales at your local mattress store?

>> Read more trending stories  

Here are five things to know about Presidents Day according to History.com.

1. Presidents Day was established in 1885 to celebrate President George Washington's birthday nationwide. President Rutherford Hayes signed the law in 1879 and originally celebrated only in the District of Columbia.  It was moved, and named Presidents' Day in 1971. The Uniform Monday Holiday Act was created to make three-day weekends for workers.

2. Several states still honor Washington's birthday, along with Abraham Lincoln and other notable Americans. Presidents' Day now celebrates all U.S. presidents. When it was moved in 1971, the holiday combined the birthday celebrations for both Washington and Lincoln, giving equal recognition of two famous presidents since the day is between Washington's Feb. 22 and Lincoln's Feb. 12 birthdays. The act passed in 1968, but took effect in 1971.

3. The Uniform Monday Holiday Act also moved the dates of Columbus Day, Memorial Day and Veterans' Day. In 1980, Veterans' Day was returned to Nov. 11 after critics voiced their complaints.

4. Two other presidents join Lincoln and Washington with birthdays in February, William Henry Harrison, the ninth president, and Ronald Reagan, 40th, were both born in the second month. Reagan celebrated on Feb. 6, while Harrison was born Feb. 9.

5. The day is usually celebrated with children spending the time leading up to Presidents' Day to learn about Washington, Lincoln and other presidents. There are historical displays and parades. In 1932, Presidents' Day marked the reinstatement of the Purple Heart. The medal is given to soldiers killed or wounded in battle.