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Stock-based Compensation | 3 Months Ended
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Mar. 31, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock-based Compensation | 5. STOCK-BASED COMPENSATION Compensation expense recorded for all stock options, performance shares, restricted stock units (RSUs) and stock appreciation rights (SARs) was as follows:
(In thousands) |
Three Months Ended March 31, |
2023 |  |  | 2022 |
$ | 999 |  |  | $ | 2,957 |
The decrease in stock-based compensation expense for the first quarter of 2023 compared to the same period a year ago was attributable to the Company's management lowering the assessment of performance targets for certain grants. In addition, during the first quarter of 2022, the Company accelerated vesting of certain equity grants for the Company's former Chief Executive Officer, who retired on April 25, 2022. Unrecognized compensation costs for stock options, performance shares, RSUs and SARs were as follows:
(In thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Stock options |  | $ | 631 |  |  | $ | 692 |
Performance shares and RSUs |  |  | 7,321 |  |  |  | 6,144 |
SARs |  |  | 6,860 |  |  |  | 5,211 |
The change in unrecognized compensation costs for stock options, performance shares, RSUs and SARs primarily reflects the 2023 grants of:
|  | Shares |
Stock options |  |  | 2,777 |
Performance shares (at target) and RSUs |  |  | 81,170 |
SARs |  |  | 72,262 |
The unrecognized compensation costs at March 31, 2023, are expected to be recognized over weighted-average periods of 1.3 years for stock options, 2.0 years for performance shares and RSUs and 2.0 years for SARs.

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