XML 22 R16.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Stock Award Plans
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Award Plans

(7) Stock Award Plans

The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards were as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Compensation cost

 

$

2,991

 

 

$

3,104

 

 

$

9,399

 

 

$

8,912

 

Income tax benefit

 

$

737

 

 

$

754

 

 

$

2,256

 

 

$

2,247

 

 

During the six months ended June 30, 2024, the Company granted 164,848 restricted stock units (“RSUs”) to selected officers and other key employees under the employee stock award plan, the majority of which vest ratably over five years. During April 2024, the Company granted 14,624 shares of restricted stock to nonemployee directors of the Company under the director stock plan which vest six months after the date of grant.