The Company maintains stock incentive plans pursuant to which it can grant restricted shares, unrestricted shares, incentive stock options, non-qualified stock options, restricted stock units (“RSU’s”), performance stock units (“PSU’s”) or stock appreciation rights (“SAR’s”). A Black-Scholes model was used to estimate the fair value of stock options. The fair value of RSU’s is equal to the stock price on the date of the grant. The fair value of the PSU’s awarded during fiscal 2020 equaled the stock price on the date of the grant. The fair value of the PSU’s awarded during fiscal 2019 was determined using a Monte Carlo simulation. A different methodology was used to value fiscal 2020 grants due to the removal of market-based conditions in the grant provisions. Share-based compensation expense included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Income, for the three and six months ended July 31, 2019 and 2018 was as follows:

	Three Months Ended				Six Months Ended
	July 31,				July 31,
	2019		2018		2019		2018
Stock Options	$	453	$	429	$	1,038	$	646
Stock Appreciation Rights		—		—		—		4
Performance Stock Units		1,134		1,549		2,211		3,570
Restricted Stock Units		4,321		3,488		8,212		6,770
Total	$	5,908	$	5,466	$	11,461	$	10,990

Share-based awards granted and the weighted-average fair value of such awards for the six months ended July 31, 2019 was as follows:

	Six Months Ended
	July 31, 2019
			Weighted-
	Awards		Average Fair
	Granted		Value
Stock Options		160,000	$	8.67
Stock Appreciation Rights		—	$	—
Performance Stock Units		140,000	$	30.19
Restricted Stock Units		855,000	$	30.02
Total		1,155,000

During the six months ended July 31, 2019, 40,000 stock options were exercised, 139,999 PSU’s vested and 388,990 RSU’s vested.

The total unrecognized compensation cost related to outstanding share-based awards and the weighted-average period in which the cost is expected to be recognized as of July 31, 2019 was as follows:

	July 31, 2019
	Unrecognized		Weighted-
	Compensation		Average
	Cost		Years
Stock Options	$	1,171		0.8
Stock Appreciation Rights		—		—
Performance Stock Units		6,794		2.1
Restricted Stock Units		33,436		2.3
Total	$	41,401