The Company recognizes share-based compensation expense in accordance with ASC 718, “Compensation—Stock Compensation.” Expense is recognized over the requisite service period of the award, net of an estimate for the impact of forfeitures. Operating results for fiscal 2020, 2019 and 2018 include $16,087, $12,115 and $25,793 of compensation costs related to the Company’s stock-based compensation arrangements.

In June 2010, the stockholders of Rite Aid Corporation approved the adoption of the Rite Aid Corporation 2010 Omnibus Equity Plan. Under the plan, 1,750 shares of Rite Aid common stock are available for granting of restricted stock, stock options, phantom stock, stock bonus awards and other equity based awards at the discretion of the Board of Directors. The adoption of the 2010 Omnibus Equity Plan became effective on June 23, 2010.

In June 2012, the stockholders of Rite Aid Corporation approved the adoption of the Rite Aid Corporation 2012 Omnibus Equity Plan. Under the plan, 1,425 shares of Rite Aid common stock are available for granting of restricted stock, stock options, phantom stock, stock bonus awards and other equity based awards at the discretion of the Board of Directors. The adoption of the 2012 Omnibus Equity Plan became effective on June 21, 2012.

In June 2014, the stockholders of Rite Aid Corporation approved the adoption of the Rite Aid Corporation 2014 Omnibus Equity Plan. Under the plan, 2,900 shares of Rite Aid common stock plus any shares of common stock remaining available for grant under the Rite Aid Corporation 2010 Omnibus Equity Plan and the Rite Aid Corporation 2012 Omnibus Equity Plan as of the effective date of the 2014 Plan (provided that no more than 1,250 shares may be granted as incentive stock options) are available for granting of restricted stock, stock options, phantom stock, stock bonus awards and other equity based awards at the discretion of the Board of Directors. The adoption of the 2014 Omnibus Equity Plan became effective on June 19, 2014.

All of the plans provide for the Board of Directors (or at its election, the Compensation Committee) to determine both when and in what manner options may be exercised; however, it may not be more than 10 years from the date of grant. All of the plans provide that stock options may be granted at prices that are not less than the fair market value of a share of common stock on the date of grant. The aggregate number of remaining shares authorized for issuance for all plans is 580 as of February 29, 2020.

The Company determines the fair value of stock options issued on the date of grant using the Black-Scholes-Merton option-pricing model. The following weighted average assumptions were used for options granted in fiscal 2020, 2019 and 2018:

(1)	The expected volatility is based on the historical volatility of the stock price over the most recent period equal to expected life of the option.

(2)	The dividend rate that will be paid out on the underlying shares during the expected term of the options. The Company does not currently pay dividends on its common stock, as such, the dividend rate is assumed to be 0%.

(3)	The risk free interest rate is equal to the rate available on United States Treasury zero-coupon issues as of the grant date of the option with a remaining term equal to the expected term.

(4)	The period of time for which the option is expected to be outstanding. The Company analyzed historical exercise behavior to estimate the life.

The weighted average fair value of options granted during fiscal 2020, 2019 and 2018 was $3.66, $0.00 and $21.60, respectively. Following is a summary of stock option transactions for the fiscal years ended February 29, 2020, March 2, 2019 and March 3, 2018:


		Weighted		Weighted
		Average		Average
		Exercise		Remaining	Aggregate
		Price		Contractual	Intrinsic
	Shares	Per Share		Term	Value
Outstanding at March 4, 2017	1,694	$	54.93
Granted	50		41.00
Exercised	(241)		24.05
Cancelled	(160)		126.61
Outstanding at March 3, 2018	1,343	$	51.42
Granted	—		N/A
Exercised	(99)		23.07
Cancelled	(208)		71.07
Outstanding at March 2, 2019	1,036	$	50.15
Granted	612		7.21
Exercised	—		N/A
Cancelled	(353)		48.56
Outstanding at February 29, 2020	1,295	$	30.29	5.61	$	3,920
Vested or expected to vest at February 29, 2020	1,295	$	30.29	5.61	$	3,920
Exercisable at February 29, 2020	683	$	50.97	2.14	$	0

As of February 29, 2020, there was $1,916 of total unrecognized pre-tax compensation costs related to unvested stock options, net of forfeitures. These costs are expected to be recognized over a weighted average period of 3.24 years.

Cash received from stock option exercises for fiscal 2020, 2019 and 2018 was $0, $2,294 and $5,796, respectively. The income tax benefit from stock options for fiscal 2020, 2019 and 2018 was $ 0, $7 and $10, respectively. The total intrinsic value of stock options exercised for fiscal 2020, 2019 and 2018 was $0, $726 and $3,032, respectively.

Typically, stock options granted vest, and are subsequently exercisable in equal annual installments over a four-year period for employees.

Restricted Stock

The Company provides restricted stock grants to associates under plans approved by the stockholders. Shares awarded under the plans typically vest in equal annual installments over a three-year period. Unvested shares are

forfeited upon termination of employment. Following is a summary of restricted stock transactions for the fiscal years ended February 29, 2020, March 2, 2019 and March 3, 2018:


		Weighted
		Average
		Grant Date
	Shares	Fair Value
Balance at March 4, 2017	291	$	157.35
Granted	693		56.44
Vested	(194)		160.61
Cancelled	(179)		73.95
Balance at March 3, 2018	611	$	66.34
Granted	700		16.05
Vested	(215)		76.99
Cancelled	(88)		72.87
Balance at March 2, 2019	1,008	$	28.60
Granted	1,402		8.40
Vested	(695)		28.59
Cancelled	(462)		16.76
Balance at February 29, 2020	1,253	$	10.32

At February 29, 2020, there was $10,396 of total unrecognized pre-tax compensation costs related to unvested restricted stock grants, net of forfeitures. These costs are expected to be recognized over a weighted average period of 1.91 years.

The total fair value of restricted stock vested during fiscal years 2020, 2019 and 2018 was $19,846, $16,519 and $31,125, respectively.

Performance Based Incentive Plan

Beginning in fiscal 2015, the Company provided certain of its associates with performance based incentive plans under which the associates will receive a certain number of shares of the Company’s common stock or cash based on the Company meeting certain financial and performance goals. If such goals are not met, no stock-based compensation expense is recognized and any recognized stock-based compensation expense is reversed. The Company incurred $(461), $(1,084) and $4,122 related to these performance based incentive plans for fiscal 2020, 2019 and 2018, respectively, which is recorded as a component of stock-based compensation expense.