STOCK-BASED COMPENSATION PLANS

9 Months Ended

May 31, 2020

Share-based Payment Arrangement [Abstract]

NOTE 11. STOCK-BASED COMPENSATION PLANS

The Company's stock-based compensation plans are described in Note 15, Stock-Based Compensation Plans, to the consolidated financial statements in the 2019 Form 10-K. In general, restricted stock units granted during 2020 vest ratably over a period of three years. Subject to the achievement of performance targets established by the Compensation Committee of CMC's Board of Directors, performance stock units granted during 2020 vest after a period of three years.

During the nine months ended May 31, 2020 and 2019, the Company granted the following awards under its stock-based compensation plans:


	May 31, 2020				May 31, 2019
(in thousands, except per share data)	Shares Granted	Weighted Average Grant Date Fair Value		Shares Granted	Weighted Average Grant Date Fair Value
Equity method	1,521	$	18.32	1,505	$	17.75
Liability method	426	N/A		374	N/A

During the three and nine months ended May 31, 2020 and 2019, the Company recorded immaterial mark-to-market adjustments on liability awards. At May 31, 2020, the Company had outstanding 781,508 equivalent shares accounted for under the liability method. The Company expects 742,433 equivalent shares to vest.

The following table summarizes total stock-based compensation expense, including fair value remeasurements, which was mainly included in selling, general and administrative expenses on the Company's condensed consolidated statements of earnings:


	Three Months Ended May 31,						Nine Months Ended May 31,
(in thousands)	2020		2019		2020		2019
Stock-based compensation expense	$	6,170	$	7,342	$	21,975	$	17,350