Stock-Based Compensation	9 Months Ended
Sep. 30, 2022
Stock-Based Compensation
Stock-Based Compensation	Note 3. 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 $3.6 million and $3.2 million for the three-month periods ended September 30, 2022 and 2021, respectively. We recognized stock-based compensation expense of $9.8 million and $9.0 million for the nine-month periods ended September 30, 2022 and 2021, respectively. These amounts include compensation expense related to RSUs, non-qualified stock options and stock to be issued to participants under the 2020 Employee Stock Purchase Plan (the “2020 ESPP”). In the three-month periods ended September 30, 2022 and 2021, we issued 38.0 thousand and 40.0 thousand shares of common stock, respectively, upon stock option exercises and vesting of RSUs. In the three-month periods ended September 30, 2022 and 2021, we received proceeds of $0.4 million and $0.3 million, respectively, in connection with the exercise of stock options. In the nine-month periods ended September 30, 2022 and 2021, we issued 0.4 million and 0.7 million shares of common stock, respectively, upon stock option exercises, purchases under the 2020 ESPP and vesting of RSUs. In the nine-month periods ended September 30, 2022 and 2021, we received proceeds of $1.9 million and $3.9 million, respectively, in connection with the exercise of stock options and purchases under the 2020 ESPP.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2022

Note 3. 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 $3.6 million and $3.2 million for the three-month periods ended September 30, 2022 and 2021, respectively. We recognized stock-based compensation expense of $9.8 million and $9.0 million for the nine-month periods ended September 30, 2022 and 2021, respectively. These amounts include compensation expense related to RSUs, non-qualified stock options and stock to be issued to participants under the 2020 Employee Stock Purchase Plan (the “2020 ESPP”).

In the three-month periods ended September 30, 2022 and 2021, we issued 38.0 thousand and 40.0 thousand shares of common stock, respectively, upon stock option exercises and vesting of RSUs. In the three-month periods ended

September 30, 2022 and 2021, we received proceeds of $0.4 million and $0.3 million, respectively, in connection with the exercise of stock options.

In the nine-month periods ended September 30, 2022 and 2021, we issued 0.4 million and 0.7 million shares of common stock, respectively, upon stock option exercises, purchases under the 2020 ESPP and vesting of RSUs. In the nine-month periods ended September 30, 2022 and 2021, we received proceeds of $1.9 million and $3.9 million, respectively, in connection with the exercise of stock options and purchases under the 2020 ESPP.