For a discussion of our share-based compensation plans, please see Note 15 in our Annual Report on Form 10-K for the fiscal year ended February 1, 2020. During the three months ended May 2, 2020, we decided to delay the grant of fiscal 2020 long-term incentive award grants to employees as a result of the impact of COVID-19.

The following table summarizes the activity of time-based and performance-based awards (collectively, "DSUs") for the three months ended May 2, 2020:

(1)	Includes 34,993 shares relinquished for tax payments related to vested DSUs for the three months ended May 2, 2020.

As of May 2, 2020, we have unrecognized compensation expense related to non-vested DSUs of $3.2 million, which is expected to be recognized over a weighted-average period of 0.9 years.

Stock Options and Stock Appreciation Rights (“SARs”)

The following table summarizes the activity of stock options for the three months ended May 2, 2020:


		Weighted-
	Number of	Average
	Shares	Exercise Price
Outstanding at February 1, 2020	3,952,587	$	11.53
Granted	—		—
Exercised	—		—
Forfeited	(181,024)		7.39
Expired	(77,509)		14.16
Outstanding at May 2, 2020	3,694,054	$	11.68
Exercisable at May 2, 2020	1,663,130	$	16.19

The following table summarizes the activity of SARs for the three months ended May 2, 2020:



		Weighted-
	Number of	Average
	Shares	Exercise Price
Outstanding at February 1, 2020	414,476	$	7.62
Granted	—		—
Exercised	—		—
Forfeited	—		—
Expired	—		—
Outstanding at May 2, 2020	414,476	$	7.62
Exercisable at May 2, 2020	138,158	$	7.62

As of May 2, 2020, we have unrecognized compensation expense related to non-vested stock options and SARs of $6.8 million, which is expected to be recognized over a weighted-average period of 1.5 years.

Cash Settled Awards

We have granted stock-based awards to certain employees, which vest over a period of three years, and will be settled in cash ("cash settled awards"). The fair value of the cash settled awards at each reporting period is based on the price of our common stock. The fair value of the cash settled awards will be re-measured at each reporting period until the awards are settled. Cash settled awards are classified as liabilities in the condensed consolidated balance sheets. At May 2, 2020, the liability associated with the cash settled awards was $1.1 million and was recorded in accrued expenses and other current liabilities in the condensed consolidated balance sheets.

The following table summarizes the activity of cash settled awards, based on their initial grant date values, for the three months ended May 2, 2020 (in thousands):


	Cash Settled Awards
Non-Vested at February 1, 2020	$	6,220
Granted		—
Vested		(1,245)
Forfeited		(205)
Non-Vested at May 2, 2020	$	4,770

As of May 2, 2020, we have unrecognized compensation expense related to non-vested cash settled awards of $1.4 million, which is expected to be recognized over a weighted-average period of 1.5 years.

Share-Based Compensation Expense

Share-based compensation expense, including cash settled awards, recognized for the three months ended May 2, 2020 and May 4, 2019, was $2.0 million and $1.9 million, respectively.