Company: BANFP
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-030159
Chunk: 117

Company: BANCFIRST CORP /OK/
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 117
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 2023 and 2022.  

 86 

Stock-based compensation expense is charged to salaries and benefits expense on the Consolidated Statements of Comprehensive Income. The components of stock-based compensation expense for all share-based compensation plans and related tax benefits are as follows: 

        Year Ended December 31,

        2024

        2023

        2022

        (Dollars in thousands)

        Stock-based compensation expense
         
        $
        3,452

        $
        2,999

        $
        1,941

        Tax benefit

        830

        721

        467

        Stock-based compensation expense, net of tax
         
        $
        2,622

        $
        2,278

        $
        1,474

      The Company amortizes the unearned stock-based compensation expense over the remaining vesting period of approximately five years for unvested stock options and six years for unvested RSU's. The following table shows the unearned stock-based compensation expense for unvested stock options and unvested RSU's:  

        December 31, 2024

        (Dollars in thousands)

        Unearned stock-based compensation expense for unvested stock options
         
        $
        7,462

        Unearned stock-based compensation expense for unvested RSU's

        3,193

(14) RETIREMENT PLANS The Company has two separate retirement plans, the Thrift Plan (“401(k)”) and the Employee Stock Ownership Plan (“ESOP”). These two plans cover all eligible employees, as defined in the plans, of the Company and its subsidiaries. The 401(k) allows employees to defer up to the maximum legal limit of their compensation, of which the Company may match up to 3% of their compensation. In addition, the Company may make discretionary contributions based on employee contributions or eligible compensation to the ESOP, as determined by the Company’s Board of Directors. The ESOP sponsor purchases shares from the open market. These shares are included in the calculation of the basic earnings per share. Dividends issued on these shares are reinvested into the ESOP. The ESOP is not leveraged. The aggregate amounts of contributions by the Company to the 401(k) and ESOP are shown in the following table:  

        December 31,

        2024

        2023

        2022