For the three months ended March 31, 2020, we granted stock only stock appreciation rights (“SOSARs”) on 106 shares of our common stock to eligible employees. The weighted-average grant date fair value of the SOSARs was $224.58 per share with a weighted-average exercise price of $857.00 per share. The SOSARs vest in two equal installments on the second and third anniversary of the grant date. For the three months ended March 31, 2020, 149 SOSARs were exercised, and 12 SOSARs were forfeited.

For the three months ended March 31, 2020, we granted restricted stock units (“RSUs”) on 32 shares of our common stock to eligible employees. The weighted-average grant date fair value of the RSUs was $857.50 per share. The RSUs vest in two equal installments on the second and third anniversary of the grant date. For the three months ended March 31, 2020, 54 RSUs vested and 4 RSUs were forfeited.

For the three months ended March 31, 2020, we awarded a total of 27 performance shares (“PSUs”) that are subject to service, market and performance vesting conditions. The weighted-average grant date fair value of the PSUs was $857.00 per share, and the quantity of shares that will vest range from 0% to 300% of the targeted number of shares. If the defined minimum targets are not met, then no shares will vest. Further, in no event may more than 100% of the target number of PSUs vest if our 3 year total shareholder return is below the 25^th percentile of the constituent companies comprising the S&P 500 on the day of grant. For the three months ended March 31, 2020, 71 PSUs vested and 2 PSUs were forfeited.



	March 31,
	2020		2019
Stock-based compensation	$	17,708	$	19,342
Stock-based compensation, net of income taxes	$	14,505	$	14,402
Total capitalized stock-based compensation included in net leasehold improvements, property and equipment on the condensed consolidated balance sheets	$	313	$	188
Excess tax benefit on stock-based compensation recognized in provision for income taxes	$	23,631	$	5,434