On June 20, 2023, our shareholders approved the Shoe Carnival, Inc. Amended and Restated 2017 Equity Incentive Plan (the “Amended 2017 Plan”). Pursuant to the amendment and restatement, the number of shares of our common stock that are available for issuance under the Amended 2017 Plan was increased by 1.8 million additional shares, the term of the plan was extended by an additional ten years from the date of shareholder approval, and certain other design changes were made to the plan. As of May 4, 2024, there were 1,721,139 shares available for issuance under the Amended 2017 Plan, assuming that all outstanding performance stock units where the performance condition has not been satisfied vest at the maximum level of performance.

Stock-based compensation includes share-settled awards issued pursuant to the Amended 2017 Plan in the form of restricted stock units, performance stock units, and restricted and other stock awards. Additionally, we recognize stock-based compensation expense for the discount on shares sold to employees through our Employee Stock Purchase Plan and for cash-settled stock appreciation rights. For the thirteen weeks ended May 4, 2024 and April 29, 2023, stock-based compensation expense was comprised of the following:


(In thousands)	Thirteen Weeks Ended May 4, 2024			Thirteen Weeks Ended April 29, 2023
Share-settled equity awards	$	1,529		$	1,226
Stock appreciation rights		221			(27	)
Employee stock purchase plan		7			10
Total stock-based compensation expense	$	1,757		$	1,209
Income tax effect at statutory rates	$	(427	)	$	(273	)
Additional income tax benefit on vesting of share-settled awards	$	(109	)	$	(620	)

As of May 4, 2024, approximately $13.5 million of unrecognized compensation expense remained related to our share-settled equity awards. The cost is expected to be recognized over a weighted average period of approximately 1.9 years.

The following table summarizes transactions for our restricted stock units and performance stock units:


	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding at February 3, 2024		579,307		$	27.04
Granted		328,773			31.99
Vested		(46,333	)		30.17
Unearned		(159,954	)		24.87
Outstanding at May 4, 2024		701,793		$	29.65

The total fair value at grant date of restricted stock units and performance stock units that vested during the thirteen weeks ended May 4, 2024 and April 29, 2023 was $1.4 million and $4.8 million, respectively. The weighted-average grant date fair value of restricted stock units and performance stock units granted during the thirteen weeks ended April 29, 2023 was $24.98. There were 159,954 shares that were not earned because the performance condition for performance stock units granted in Fiscal 2023 was not satisfied.