We examine the star-forming history (SFH) of the M31 disk during the past few hundred Myr. The luminosity functions (LFs) of main sequence stars at distances R_GC > 21 kpc (i.e. > 4 disk scale lengths) are matched by models that assume a constant star formation rate (SFR). However, at smaller R_GC the LFs suggest that during the past ~10 Myr the SFR was 2 - 3 times higher than during the preceding ~100 Myr. The rings of cool gas that harbor a significant fraction of the current star-forming activity are traced by stars with ages ~100 Myr, indicating that (1) these structures have ages of at least 100 Myr, and (2) stars in these structures do not follow the same relation between age and random velocity as their counterparts throughout the disks of other spiral galaxies, probably due to the inherently narrow orbital angular momentum distribution of the giant molecular clouds in these structures. The distribution of evolved red stars is not azimuthally symmetric, in the sense that their projected density along the north east segment of the major axis is roughly twice that on the opposite side of the galaxy. The north east arm of the major axis thus appears to be a fossil star-forming area that dates to intermediate epochs. Such a structure may be the consequence of interactions with a companion galaxy. ; Comment: To appear in The Astrophysical Journal