
	Number Outstanding (thousands)		Weighted Average Exercise Price Per Share		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (millions)(1)		Weighted Average Remaining Contractual Life (years)
Outstanding as of August 31, 2020	2,254		$	189.32
Granted – employees	418		$	317.17	$	78.31

Granted – non-employee directors	12		$	318.20	$	82.01
Exercised(2)	(322)		$	166.36
Forfeited	(85)		$	237.23
Outstanding as of August 31, 2021	2,277		$	214.89
Granted – employees	348		$	433.09	$	103.49

Granted – non-employee directors	6		$	428.71	$	109.11
Exercised(2)	(414)		$	178.57
Forfeited	(128)		$	301.05
Outstanding as of August 31, 2022	2,089		$	253.85
Granted – employees	268		$	426.22	$	125.57

Granted – non-employee directors	5		$	428.70	$	128.84
Exercised(2)	(318)		$	181.67
Forfeited	(56)		$	373.04
Outstanding as of August 31, 2023	1,988	(3)	$	285.95			$	268.8	6.0
Options vested and exercisable as of August 31, 2023	1,076		$	221.45			$	231.3	4.5
Options expected to vest as of August 31, 2023	839		$	358.37			$	65.5	7.6

(1)The aggregate intrinsic value represents the difference between our closing stock price as of August 31, 2023 of $436.41 and the exercise price, multiplied by the number of options exercisable as of that date.

(3)As of August 31, 2023, a total of 1,987,662 shares underlying the stock option awards were unvested and outstanding, which results in unamortized stock-based compensation of $59.1 million to be recognized as stock-based compensation expense over the remaining weighted average vesting period of 3.1 years.

Stock options are granted to our employees under the FactSet Research Systems Inc. Stock Option and Award Plan as Amended and Restated (the "LTIP"). The majority of our employee stock options granted under the LTIP for fiscal 2021 through fiscal 2023 relate to our annual grants on November 1, 2022, November 1, 2021 and November 9, 2020.


	2023		2022		2021
Stock options granted(1)	268,185		348,458		417,546
Risk-free interest rate	3.37% - 5.05%		0.07% - 2.99%		0.04% - 1.67%

Expected life (years)	6.6		6.9		7.1

Expected volatility	24% - 25%		24% - 25%		26% - 27%

Dividend yield	0.83	%	0.86	%	0.12	%

Weighted average grant date fair value	$125.57		$103.49		$78.31
Weighted average exercise price	$426.22		$433.09		$317.17

(1) Includes the annual employee grant on November 1, 2022, November 1, 2021 and November 9, 2020 of 266,051, 292,377 and 408,093 stock options, respectively. The majority of the stock options granted, including the annual employee grants, vest 20% annually on the anniversary date of the grant and are fully vested after five years, expiring ten years from the date of grant.


(in thousands, except per award data)	Number Outstanding		Weighted Average Grant Date Fair Value Per Award
Balance at August 31, 2020	146		$	231.55
Granted - employee Restricted Stock Awards(1)	99		$	312.86
Vested - employee RSUs	(35)		$	208.67
Forfeited	(13)		$	267.23
Balance at August 31, 2021	197		$	274.10
Granted - employee Restricted Stock Awards(1)	103		$	418.16
Granted - non-employee directors RSUs	2		$	425.29
Vested - employee Restricted Stock Awards	(40)		$	242.87
Forfeited	(29)		$	323.16
Balance at August 31, 2022	233		$	338.87
Granted - employee Restricted Stock Awards(1)	97		$	416.58
Performance adjustment - employee PSUs(2)	9		$	245.67
Granted - non-employee directors RSUs	2		$	425.06
Vested - Restricted Stock Awards	(83)		$	291.80
Forfeited	(14)		$	369.71
Balance at August 31, 2023	244	(3)	$	381.15

(3)As of August 31, 2023, a total of 243,552 shares underlying the Restricted Stock Awards were unvested and outstanding, which resulted in unamortized stock-based compensation of $55.4 million to be recognized as stock-based compensation expense over the remaining weighted average vesting period of 2.7 years.

Restricted Stock Awards are granted to our employees under the LTIP. These awards entitle the holders to shares of common stock as the Restricted Stock Awards vests, but not to dividends declared on the underlying shares while the stock subject to the Restricted Stock Awards is unvested.

Our Restricted Stock Awards granted during fiscal 2021 through fiscal 2023 primarily relate to our annual grants on November 1, 2022, November 1, 2021 and November 9, 2020. The majority of the RSUs included in each these grants vest 20% annually on the anniversary date of the grant and are fully vested after five years. The PSUs included in each of these grants cliff vest on the third anniversary of the grant date, subject to the achievement of certain performance metrics. The ultimate number of common shares that may be earned pursuant to these PSU awards in each year range from 0% to 150% of the number of target shares, depending on the level of achievement of the stated financial performance objectives.

Shares of FactSet common stock may be purchased by eligible employees under our ESPP in three-month intervals. The purchase price is equal to 85% of the lesser of the fair market value of our common stock on the first day or the last day of each three-month offering period. Employee purchases may not exceed 10% of their gross compensation and there is a $25,000 contribution limit per employee for each calendar year. Shares purchased through our ESPP cannot be sold or otherwise transferred for 18 months after purchase. Dividends paid on shares held in our ESPP are used to purchase additional ESPP shares at the market price on the dividend payment date.

During fiscal 2023, employees purchased 39,873 shares at a weighted average price of $348.55, compared with 36,244 shares at a weighted average price of $332.30 in fiscal 2022, and 38,848 shares at a weighted average price of $273.59 in fiscal 2021.

Stock-based compensation expense related to our ESPP was $2.7 million, $2.3 million and $2.0 million for fiscal 2023, 2022 and 2021, respectively. At August 31, 2023, our ESPP had 62,839 shares reserved for future issuance. The weighted average estimated fair value of our ESPP shares during fiscal 2023, 2022 and 2021 was $71.74, $66.35 and $54.00 per share, respectively.

A summary of stock-based awards available for grant is as follows:


(in thousands)	Stock-based Awards Available for Grant under the LTIP	Stock-based Awards Available for Grant under the FactSet Research Systems Inc. Non-Employee Directors’ Stock Option and Award Plan as Amended and Restated (the “Director Plan”)
Balance at August 31, 2020	5,626	250

Granted - stock option awards	(418)	(12)

Granted - RSUs(1)	(157)	—
Granted - PSUs(1)	(91)	—
Forfeited - stock-based awards(1)	120	—
Balance at August 31, 2021	5,080	238
Granted - stock option awards	(348)	(6)
Granted - RSUs(1)	(180)	(4)
Granted - PSUs(1)	(77)	—
Forfeited - stock-based awards(1)	194	4
Balance at August 31, 2022	4,669	232
Granted - stock option awards	(268)	(5)
Granted - RSUs(1)	(158)	(4)
Granted - PSUs(1)	(86)	—
Performance adjustment - PSUs(2)	(21)	—
Forfeited - stock-based awards(1)	90	—
Balance at August 31, 2023	4,226	223

(1)Under the LTIP, for each Restricted Stock Award granted or canceled/forfeited, an equivalent of 2.5 shares is deducted from or added back to, respectively, the aggregate number of stock-based awards available for grant.