Accounting for Stock-Based Compensation	3 Months Ended
Aug. 31, 2020
Accounting for Stock-Based Compensation
Accounting for Stock-Based Compensation	Note 7 – Accounting for Stock-Based Compensation Restricted Stock In the three-month period ended August 31, 2020, as part of our annual long-term stock incentive compensation, we granted 141,615 shares of time-based restricted stock to eligible employees. The grant date fair value per share for these shares was $18.94 (the closing price on the grant date). We also granted 71,025 shares of time-based restricted stock to members of the Board of Directors with an average grant date fair value per share of $20.00. Expense charged to operations for restricted stock during the three-month periods ended August, 2020 and 2019 was $1.9 million and $3.1 million, respectively. Stock Options In July 2020, as part of our annual long-term stock incentive compensation, we issued 927,300 stock options to eligible employees at an exercise price of $18.94. The grant date has not yet been established as the stock option awards are subject to shareholder approval of an increase in available shares under the AAR CORP. 2013 Stock Plan. Shareholder vote on this amendment to the AAR CORP. 2013 Stock Plan will occur at the 2020 Annual Meeting of Stockholders to be held October 7, 2020. The total intrinsic value of stock options exercised during the three-month periods ended August 31, 2020 and 2019 was $0.1 million and $1.1 million, respectively. Expense charged to operations for stock options during the three-month periods ended August 31, 2020 and 2019 was $0.8 million and $1.2 million, respectively.

Accounting for Stock-Based Compensation

3 Months Ended

Aug. 31, 2020

Accounting for Stock-Based Compensation

Note 7 – Accounting for Stock-Based Compensation

Restricted Stock

In the three-month period ended August 31, 2020, as part of our annual long-term stock incentive compensation, we granted 141,615 shares of time-based restricted stock to eligible employees. The grant date fair value per share for these shares was $18.94 (the closing price on the grant date). We also granted 71,025 shares of time-based restricted stock to members of the Board of Directors with an average grant date fair value per share of $20.00.

Expense charged to operations for restricted stock during the three-month periods ended August, 2020 and 2019 was $1.9 million and $3.1 million, respectively.

Stock Options

In July 2020, as part of our annual long-term stock incentive compensation, we issued 927,300 stock options to eligible employees at an exercise price of $18.94. The grant date has not yet been established as the stock option awards are subject to shareholder approval of an increase in available shares under the AAR CORP. 2013 Stock Plan. Shareholder vote on this amendment to the AAR CORP. 2013 Stock Plan will occur at the 2020 Annual Meeting of Stockholders to be held October 7, 2020.

The total intrinsic value of stock options exercised during the three-month periods ended August 31, 2020 and 2019 was $0.1 million and $1.1 million, respectively. Expense charged to operations for stock options during the three-month periods ended August 31, 2020 and 2019 was $0.8 million and $1.2 million, respectively.