Stock-Based Compensation

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

6. Stock-Based Compensation

The Company uses the Black-Scholes option pricing model to calculate the fair value of stock option awards, whether they possess time-based vesting provisions or performance-based vesting provisions, and awards granted under the Vicor Corporation 2017 Employee Stock Purchase Plan (“ESPP”), as of their grant date. Stock-based compensation expense was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Cost of revenues	$	744	$	570	$	1,498	$	1,056
Selling, general and administrative		1,757		1,626		3,676		3,146
Research and development		930		816		2,037		1,627
Total stock-based compensation	$	3,431	$	3,012	$	7,211	$	5,829

Compensation expense by type of award was as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Stock options	$	3,167	$	2,701	$	6,633	$	5,197
ESPP		264		311		578		632
Total stock-based compensation	$	3,431	$	3,012	$	7,211	$	5,829