XML 49 R35.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation and Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

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

	2021		2020		2019
Cost of revenues	$	1,000	$	934	$	342
Selling, general and administrative		3,873		3,164		1,979
Research and development		2,162		1,785		715

Total stock-based compensation	$	7,035	$	5,883	$	3,036

Summary of Compensation Expense by Type of Award

The increase in stock option compensation expense in 2021 compared to 2020, was primarily due to an increase in the number of stock options granted and higher stock-based compensation expense associated with June 2021 stock option awards.

Compensation expense by type of award for the years ended December 31 was as follows (in thousands):

	2021		2020		2019
Stock options	$	6,122	$	4,982	$	2,072
ESPP		913		901		964

Total stock-based compensation	$	7,035	$	5,883	$	3,036

Weighted-Average Assumptions for Non Performance-Based Fair Value for Stock Options

The fair value for

non-performance-based

stock options awarded under the 2000 Plan 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:

	2021			2020			2019
Risk-free interest rate		0.8	%		0.5	%		1.8	%
Expected dividend yield		—			—			—
Expected volatility		49	%		48	%		42	%
Expected lives (years)		4.9			6.1			6.3

2000 Plan, Vicor [Member]

Stock-Based Compensation Expense

A summary

of the activity under the 2000 Plan as of December 31, 2021 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, 2020		2,023,477		$	20.98
Granted		267,559		$	93.40
Forfeited and expired		(61,924	)	$	58.95
Exercised		(551,451	)	$	13.81

Outstanding on December 31, 2021		1,677,661		$	33.48		4.56	$	157,309

Exercisable on December 31, 2021		776,559		$	11.63		2.93	$	89,576

Vested or expected to vest as of December 31, 2021(1)		1,617,003		$	32.10		4.46	$	153,817

(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.