STOCK-BASED COMPENSATION PLANS

3 Months Ended

Nov. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-based compensation plans

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 2020 Form 10-K. In general, restricted stock units granted in 2021 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 in 2021 vest after a period of three years.

During the three months ended November 30, 2020 and 2019, the Company granted the following awards under its stock-based compensation plans:

	November 30, 2020			November 30, 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	1,399	$	20.39	1,465	$	18.15
Liability method	324	N/A		426	N/A

During the three months ended November 30, 2020 and 2019, the Company recorded immaterial mark-to-market adjustments on liability awards. At November 30, 2020, the Company had outstanding 715,970 equivalent shares accounted for under the liability method. The Company expects 680,171 equivalent shares to vest.

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

	Three Months Ended November 30,
(in thousands)	2020		2019
Stock-based compensation expense	$	9,062	$	8,269