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Stock-Based Compensation Plans
 3 Months Ended
Nov. 24, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans
Note 7—Stock-Based Compensation
The 2019 Incentive Plan authorized the issuance of 17,500,000 shares (10,000,000 RSUs) of common stock for future grants, plus the remaining shares that were available for grant and the future forfeited shares from grants under the previous plan up to a maximum aggregate of 27,800,000 shares (15,885,000 RSUs). The Company issues new shares of common stock upon vesting of RSUs. Shares for vested RSUs are generally delivered to participants annually, net of shares withheld for taxes.
Summary of Restricted Stock Unit Activity
At November 24, 2019, 13,451,000 shares were available to be granted as RSUs, and the following awards were outstanding:
•
5,227,000 time-based RSUs that vest upon continued employment over specified periods of time;
•
30,000 performance-based RSUs, granted to executive officers of the Company, for which the performance targets have been met. The awards vest upon continued employment over specified periods of time; and
•
123,000 performance-based RSUs, granted to executive officers of the Company, subject to achievement of performance targets for fiscal 2020, as determined by the Compensation Committee of the Board of Directors after the end of the fiscal year. These awards are not included in the table below.
The following table summarizes RSU transactions during the first quarter of 2020:
 
Number of
Units
(in 000s)
 
Weighted-Average
Grant Date Fair
Value
Outstanding at September 1, 2019
6,496

 
$
167.55

Granted
2,128

 
293.62

Vested and delivered
(3,341
)
 
188.91

Forfeited
(26
)
 
182.38

Outstanding at November 24, 2019
5,257

 
$
204.94


The remaining unrecognized compensation cost related to nonvested RSUs at November 24, 2019, was $1,012, and the weighted-average period over which this cost will be recognized is 1.8 years.
Summary of Stock-Based Compensation
The following table summarizes stock-based compensation expense and the related tax benefits:
 
12 Weeks Ended
 
November 24,
2019
 
November 25,
2018
Stock-based compensation expense before income taxes
$
301

 
$
270

Less recognized income tax benefit
(66
)
 
(61
)
Stock-based compensation expense, net of income taxes
$
235

 
$
209