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Stock Award Plans | 9 Months Ended
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Sep. 30, 2020
Stock Award Plans [Abstract] |
Stock Award Plans |
(9) | Stock Award Plans
During the nine months ended September 30, 2020, the Company granted 153,460 restricted stock units (“RSUs”) and 114,600 stock options to selected officers and other key employees under its employee stock award plan. The RSUs vest ratably over five years and the stock options become exercisable ratably over three years and expire after seven years. During the nine months ended September 30, 2020, the Company granted 39,913 shares of restricted stock to nonemployee directors of the Company under the director stock award plan. The restricted stock vests six months after the date of grant except that restricted stock granted in lieu of cash director fees vests in equal quarterly increments through March 31, 2021. 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 September 30, |  |  | Nine months ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Compensation cost |  | $ | 3,414 |  |  | $ | 3,172 |  |  | $ | 12,066 |  |  | $ | 11,079 |
Income tax benefit |  | $ | 1,181 |  |  | $ | 813 |  |  | $ | 3,332 |  |  | $ | 2,722 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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