Compensation expense recorded for all stock options, performance shares, restricted stock units (RSUs) and stock appreciation rights (SARs) was as follows:

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.

(In thousands)

Three Months Ended
March 31,