STOCK-BASED COMPENSATION PLANS

6 Months Ended

Feb. 29, 2024

Share-Based Payment Arrangement [Abstract]

NOTE 10. STOCK-BASED COMPENSATION PLANS

The Company's stock-based compensation plans are described in Note 13, Stock-Based Compensation Plans, to the consolidated financial statements in the 2023 Form 10-K. In general, restricted stock units vest ratably over a period of three years. Subject to the achievement of performance targets established by the Compensation Committee of the Company's Board of Directors (the "Board"), performance stock units vest after a period of three years.

Information for restricted stock units and performance stock units accounted for as equity awards during the six months ended February 29, 2024 is as follows:


	Shares	Weighted Average Fair Value
Outstanding as of August 31, 2023	1,777,591	$	37.01
Granted	1,080,837	47.71
Vested	(1,235,399)	37.93
Forfeited	(26,529)	40.63
Outstanding as of February 29, 2024	1,596,500	$	43.49

The Company granted 188,453 equivalent shares in the form of restricted stock units and performance stock units accounted for as liability awards during the six months ended February 29, 2024. At February 29, 2024, the Company had outstanding 460,093 equivalent shares accounted for under the liability method. The Company expects 437,088 equivalent shares to vest.

The following table summarizes total stock-based compensation expense, including fair value remeasurements, which was primarily included in SG&A expenses in the Company's condensed consolidated statements of earnings:


	Three Months Ended				Six Months Ended
(in thousands)	February 29, 2024		February 28, 2023		February 29, 2024		February 28, 2023
Stock-based compensation expense	$	14,988	$	16,949	$	23,047	$	33,624