The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:

	For the three months ended
	May 2, 2020		May 4, 2019
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		50,758		49,602
Common stock equivalents – stock options and restricted stock ⁽¹⁾		—		—
Diluted weighted average common shares outstanding		50,758		49,602

(1)

Common stock equivalents of 261 shares and 525 shares for the three months ended May 2, 2020 and May 4, 2019, respectively, were excluded due to the net loss in each period.

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each period, because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or because of the unearned compensation associated with either stock options, restricted stock units, restricted or deferred stock had an anti-dilutive effect.

	For the three months ended
	May 2, 2020		May 4, 2019
(in thousands, except exercise prices)
Stock options		538		942
Restricted stock units		963		1,105
Restricted and deferred stock		160		39
Range of exercise prices of such options	$1.85 - $7.02		$2.00 - $7.02

The above options, which were outstanding at May 2, 2020, expire from May 3, 2020 to June 29, 2028.

Excluded from the computation of basic and diluted earnings per share for both periods were 720,000 shares of unvested performance stock units. These performance-based awards will be included in the computation of basic and diluted earnings per share if, and when, the respective performance targets are achieved. In addition, 335,073 shares and 220,836 shares of deferred stock for three months ended May 2, 2020 and May 4, 2019, respectively, were excluded from basic earnings per share. Outstanding shares of deferred stock are not considered issued and outstanding until the vesting date of the deferral period. Unvested time-based restricted shares of 20,000 were also excluded in the first three months of fiscal 2019.