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Stock-Based Compensation (Tables)
6 Months Ended
Mar. 04, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense The Company accounts for all stock-based payments in accordance with Accounting Standards Codification (“ASC”) Topic 718, “Compensation—Stock Compensation,” as amended. Stock-based compensation expense, net
included in Operating expenses for the thirteen- and twenty-six-week periods ended March 4, 2023 and February 26, 2022 was as follows:
Thirteen Weeks EndedTwenty-Six Weeks Ended
March 4,
2023
February 26,
2022
March 4,
2023
February 26,
2022
Stock options$— $217 $101 $805 
Restricted stock units3,957 3,306 7,668 8,009 
Performance share units 945 889 2,040 1,197 
Associate Stock Purchase Plan77 88 160 178 
Total 4,979 4,500 9,969 10,189 
Deferred income tax benefit(1,259)(1,139)(2,492)(2,476)
Stock-based compensation expense, net$3,720 $3,361 $7,477 $7,713 
Summary of Stock Option Activity
A summary of the Company’s stock option activity for the twenty-six-week period ended March 4, 2023 is as follows:
OptionsWeighted-Average Exercise Price per ShareWeighted-Average Remaining Contractual Term (in
years)
Aggregate Intrinsic Value
Outstanding on September 3, 2022614$78.96 
Granted — 
Exercised (171)74.57 
Canceled/Forfeited/Expired(25)80.40 
Outstanding on March 4, 2023418$80.67 2.0$2,201 
Exercisable on March 4, 2023418$80.67 2.0$2,201 
Summary of Performance Share Unit Activity The following table summarizes all transactions related to PSUs under the MSC Industrial Direct Co., Inc. 2015 Omnibus Incentive Plan (the “2015 Omnibus Incentive Plan”) and the MSC Industrial Direct Co., Inc. 2023 Omnibus
Incentive Plan (the “2023 Omnibus Incentive Plan”) (based on target award amounts) for the twenty-six-week period ended March 4, 2023:
SharesWeighted-Average Grant Date Fair Value
Non-vested PSUs at September 3, 202288$80.04 
Granted5182.16 
PSU adjustment (1)
476.32 
Vested (26)76.32 
Canceled/Forfeited(1)83.75 
Non-vested PSUs at March 4, 2023 (2)
116$81.84 

(1)PSU adjustment represents the net PSUs awarded above or below their target grants resulting from the achievement of performance goals above or below the performance targets established at grant. One grant goal was achieved at 116% of its target based on fiscal year 2020 through fiscal year 2022 financial results.
(2)Excludes approximately 10 shares of accrued incremental dividend equivalent rights on outstanding PSUs granted under the 2015 Omnibus Incentive Plan and the 2023 Omnibus Incentive Plan.
Summary of Non-Vested Restricted Stock Unit Award Activity
A summary of the Company’s non-vested restricted stock unit (“RSU”) award activity under the 2015 Omnibus Incentive Plan and the 2023 Omnibus Incentive Plan for the twenty-six-week period ended March 4, 2023 is as follows:
SharesWeighted-Average Grant Date Fair Value
Non-vested RSUs at September 3, 2022448$79.71 
Granted21582.23 
Vested (162)79.34 
Canceled/Forfeited (8)81.18 
Non-vested RSUs at March 4, 2023 (1)
493$80.90 
(1)Excludes approximately 42 shares of accrued incremental dividend equivalent rights on outstanding RSUs granted under the 2015 Omnibus Incentive Plan and the 2023 Omnibus Incentive Plan.