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Stock-based Compensation
6 Months Ended
Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock-based Compensation

5.

STOCK-BASED COMPENSATION

Compensation expense recorded for all stock options, stock awards and stock appreciation rights (SARs) was as follows:

(In thousands)

 

Three Months Ended

June 30

 

 

Six Months Ended

June 30

 

2022

 

 

2021

 

 

2022

 

 

2021

 

$

3,998

 

 

$

2,807

 

 

$

6,955

 

 

$

5,346

 

 

 

The increase in stock-based compensation expense for the second quarter of 2022 compared to the second quarter of 2021 was primarily attributable to the 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, stock awards and SARs were as follows:

(In thousands)

 

June 30, 2022

 

 

December 31, 2021

 

Stock options

 

$

1,327

 

 

$

2,229

 

Stock awards

 

 

9,924

 

 

 

4,971

 

SARs

 

 

7,606

 

 

 

4,828

 

 

The change in unrecognized compensation costs for stock options, stock awards and SARs primarily reflects the 2022 grants of:

 

 

Shares

 

Stock options

 

 

34,444

 

Stock awards (at target)

 

 

64,311

 

SARs

 

 

188,835

 

 

The unrecognized compensation costs at June 30, 2022, are expected to be recognized over weighted-average periods of 1.4 years for stock options, 2.0 years for stock awards and 2.0 years for SARs.