STOCK-BASED COMPENSATION PLANS

9 Months Ended

May 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

NOTE 13. STOCK-BASED COMPENSATION PLANS

The Company's stock-based compensation plans are described, and informational disclosures provided, in Note 15, Stock-Based Compensation Plans, to the consolidated financial statements in the 2018 Form 10-K. In general, restricted stock units granted during fiscal 2019 vest ratably over a period of three years. However, certain restricted stock units granted during fiscal 2019 cliff vest after 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 fiscal 2019 vest after a period of three years.

During the nine months ended May 31, 2019 and 2018, the Company granted the following awards under its stock-based compensation plans:



	May 31, 2019			May 31, 2018
(in thousands, except per share data)	Shares Granted	Weighted Average Grant Date Fair Value		Shares Granted	Weighted Average Grant Date Fair Value
Equity method	1,505	$	17.75	1,216	$	20.69
Liability method	374	N/A		323	N/A

During the three and nine months ended May 31, 2019 and 2018, the Company recorded immaterial amounts for mark-to-market adjustments on liability awards. As of May 31, 2019, the Company had outstanding 718,223 equivalent shares accounted for under the liability method. The Company expects 683,922 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)	2019		2018		2019		2018
Stock-based compensation expense	$	7,342	$	4,910	$	17,350	$	18,247