The Company recorded $2.1 million and $1.4 million of stock-based compensation expense in the thirteen weeks ended February 29, 2020 and February 23, 2019, respectively. The Company recorded $3.8 million and $2.5 million of stock-based compensation expense in the twenty-six weeks ended February 29, 2020 and February 23, 2019, respectively.

The following table summarizes stock option activity for the twenty-six weeks ended February 29, 2020:



	Shares		Weighted average exercise price		Weighted average remaining contractual life (in years)
Outstanding as of August 31, 2019	2,748,735		$	13.35
Granted	194,014		24.20
Exercised	(76,366	)	12.20
Forfeited	—		—
Outstanding as of February 29, 2020	2,866,383		$	14.11	7.77

Vested and expected to vest as of February 29, 2020	2,866,383		$	14.11	7.77

Exercisable as of February 29, 2020	1,520,073		$	12.69	7.50

As of February 29, 2020, the Company had $4.3 million of total unrecognized compensation cost related to stock option plans that will be recognized over a weighted average period of 1.08 years. During the twenty-six week period ended February 29, 2020, the Company received $0.9 million in cash from stock option exercises.

The following table summarizes restricted stock unit activity for the twenty-six weeks ended February 29, 2020:



	Units		Weighted average grant-date fair value
Non-vested as of August 31, 2019	92,400		$	17.50
Granted	132,633		25.49
Vested	(50,927	)	18.20
Forfeited	(2,284	)	15.87
Non-vested as of February 29, 2020	171,822		$	23.49

As of February 29, 2020, the Company had $3.2 million of total unrecognized compensation cost related to restricted stock units that will be recognized over a weighted average period of 1.96 years.

During the twenty-six weeks ended February 29, 2020, the board of directors granted performance stock units under the Company’s equity compensation plan. Performance stock units vest in a range between 0% and 200% based upon certain performance criteria in a three-year period. Performance stock units were valued using a Monte-Carlo simulation.

The following table summarizes performance stock unit activity for the twenty-six weeks ended February 29, 2020:



	Units		Weighted average grant-date fair value
Non-vested as of August 31, 2019	192,389		$	11.93
Granted	121,288		27.39
Vested	—		—
Forfeited	(1,443	)	15.74
Non-vested as of February 29, 2020	312,234		$	17.92

As of February 29, 2020, the Company had $4.3 million of total unrecognized compensation cost related to performance stock units that will be recognized over a weighted average period of 2.08 years.

Stock appreciation rights ("SARs") permit the holder to participate in the appreciation of the Company's Common Stock price. The Company's SARs settle in shares of Common Stock once the applicable vesting criteria has been met. Stock appreciation rights cliff vest 3 years from the date of grant and must be exercised within 10 years.

The following table summarizes SARs activity for the twenty-six weeks ended February 29, 2020:



	Shares	Weighted average exercise price		Weighted average remaining contractual life (in years)
Outstanding as of August 31, 2019	—	$	—
Granted	150,000	24.20
Exercised	—	—
Forfeited	—	—
Outstanding as of February 29, 2020	150,000	$	24.20	9.67

Vested and expected to vest as of February 29, 2020	150,000	$	24.20	9.67

Exercisable as of February 29, 2020	—	$	—	0.00