Stock-Based Compensation	3 Months Ended
Mar. 31, 2022
Stock-Based Compensation
Stock-Based Compensation	Note 2. Stock-Based Compensation We maintain the Axcelis Technologies, Inc. 2012 Equity Incentive Plan, as amended (the “2012 Equity Plan”), an Internal Revenue Code Section 423 plan, which became effective on May 2, 2012, and permits the issuance of options, restricted stock, restricted stock units (“RSUs”) and performance awards to selected employees, directors and consultants of the Company. The 2012 Equity Plan is more fully described in Note 13 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021. We recognized stock-based compensation expense of $2.7 million and $2.4 million for the three-month periods ended March 31, 2022 and 2021, respectively. These amounts include compensation expense related to RSUs and non-qualified stock options. In the three-month periods ended March 31, 2022 and 2021, we issued 0.1 million and 0.3 million shares of common stock, respectively, upon stock option exercises and vesting of RSUs. In the three-month periods ended March 31, 2022 and 2021, we received proceeds of $0.5 million and $2.5 million, respectively, in connection with the exercise of stock options.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2022

Note 2. Stock-Based Compensation

We maintain the Axcelis Technologies, Inc. 2012 Equity Incentive Plan, as amended (the “2012 Equity Plan”), an Internal Revenue Code Section 423 plan, which became effective on May 2, 2012, and permits the issuance of options, restricted stock, restricted stock units (“RSUs”) and performance awards to selected employees, directors and consultants of the Company.

The 2012 Equity Plan is more fully described in Note 13 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2021.

We recognized stock-based compensation expense of $2.7 million and $2.4 million for the three-month periods ended March 31, 2022 and 2021, respectively. These amounts include compensation expense related to RSUs and non-qualified stock options.

In the three-month periods ended March 31, 2022 and 2021, we issued 0.1 million and 0.3 million shares of common stock, respectively, upon stock option exercises and vesting of RSUs. In the three-month periods ended March 31, 2022 and 2021, we received proceeds of $0.5 million and $2.5 million, respectively, in connection with the exercise of stock options.