VI Chip Mergers

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

VI Chip Mergers

16.  VI CHIP MERGER

On June 28, 2019, the Company’s Board of Directors unanimously approved the merger of VI Chip, a subsidiary of Vicor that was fully consolidated for financial reporting purposes, with and into the Company. The merger was completed as of June 28, 2019, at which time the separate corporate existence of VI Chip ceased. To effect the merger, holders of VI Chip common stock and VI Chip stock options received an equivalent value of Vicor Common Stock and Vicor stock options, respectively, pursuant (with respect to the stock options) to the assumption of the 2007 VI Chip Plan, and options outstanding thereunder, by the Company.

There was no net impact on the Company’s consolidated financial statements for the year ended December 31, 2019 as a result of the merger.