Stock-Based Compensation and Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Stock-based compensation expense for the years ended December 31 was as follows (in thousands):


	2016			2015		2014
Cost of revenues	$	95		$	230	$	183
Selling, general and administrative		412			1,246		1,176
Research and development		(1	)		306		275

Total stock-based compensation	$	506		$	1,782	$	1,634

Weighted-Average Assumptions for Fair Value for Stock Options

The fair value for options awarded for the years shown below was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions:


	Non Performance- based Stock Options
Vicor:	2016			2015			2014
Risk-free interest rate		1.5	%		2.0	%		2.2	%
Expected dividend yield		—			—			—
Expected volatility		45	%		51	%		52	%
Expected lives (years)		7.2			7.2			6.6

VI Chip:	2016			2015			2014
Risk-free interest rate		1.7	%		2.1	%		2.3	%
Expected dividend yield		—			—			—
Expected volatility		34	%		37	%		41	%
Expected lives (years)		6.5			6.5			6.5

Picor:	2016			2015			2014
Risk-free interest rate		1.5	%		1.9	%		2.2	%
Expected dividend yield		—			—			—
Expected volatility		42	%		41	%		42	%
Expected lives (years)		6.5			6.5			6.5

Vicor Plan [Member]

Stock-Based Compensation Expense

A summary of the activity under Vicor’s stock option plans as of December 31, 2016 and changes during the year then ended, is presented below (in thousands except for share and weighted-average data):


	Options Outstanding			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding on December 31, 2015		1,848,067		$	8.57
Granted		83,817		$	10.32
Forfeited and expired		(18,737	)	$	9.21
Exercised		(216,925	)	$	7.25

Outstanding on December 31, 2016		1,696,222		$	8.82		6.83	$	10,661

Exercisable on December 31, 2016		730,388		$	7.74		6.51	$	5,375

Vested or expected to vest as of December 31, 2016 (1)		1,646,808		$	8.76		6.82	$	10,437

(1)	In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. The number of options expected to vest is calculated by applying an estimated forfeiture rate to the unvested options.

Picor Plan [Member]

Stock-Based Compensation Expense

A summary of the activity under the 2001 Picor Plan as of December 31, 2016 and changes during the year then ended, is presented below (in thousands except for share and weighted-average data):


	Options Outstanding			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding on December 31, 2015		9,725,067		$	0.62
Granted		603,000		$	0.88
Forfeited and expired		(113,560	)	$	0.65
Exercised		(683,520	)	$	0.88

Outstanding on December 31, 2016		9,530,987		$	0.62		4.56	$	1,262

Exercisable on December 31, 2016		7,915,219		$	0.62		4.09	$	1,030

Vested or expected to vest as of December 31, 2016 (1)		9,470,822		$	0.62		4.54	$	1,256

(1)	In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest is calculated by applying an estimated forfeiture rate to the unvested options.

Vi Chip Plan [Member]

Stock-Based Compensation Expense

A summary of the activity under the 2007 VI Chip Plan as of December 31, 2016 and changes during the year then ended, is presented below (in thousands except for share and weighted-average data):


	Options Outstanding			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding on December 31, 2015		10,097,500		$	1.00
Granted		5,000		$	1.00
Forfeited and expired		(168,750	)	$	1.00
Exercised		—		$	—

Outstanding on December 31, 2016 (1)		9,933,750		$	1.00		1.88	$	—

Exercisable on December 31, 2016		7,074,650		$	1.00		0.88	$	—

Vested or expected to vest as of December 31, 2016 (2)		9,747,034		$	1.00		1.83	$	—

(1)	Of the total VI Chip options outstanding on December 31, 2016, 5,500,000 options had been granted to Dr. Vinciarelli, the Company’s Chief Executive Officer.

(2)	In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest is calculated by applying an estimated forfeiture rate to the unvested options.