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Stock-Based Compensation

9 Months Ended

Sep. 30, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

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 September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Cost of revenues	$	296	$	86	$	692	$	228
Selling, general and administrative		846		482		2,313		1,507
Research and development		498		185		1,281		557

Total stock-based compensation	$	1,640	$	753	$	4,286	$	2,292

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Stock options	$	1,420	$	514	$	3,663	$	1,556
ESPP		220		239		623		736

Total stock-based compensation	$	1,640	$	753	$	4,286	$	2,292

The increase in stock option compensation expense for the three and nine months ended September 30, 2020 compared to the three and nine months ended September 30, 2019, was primarily due to an increase in the number of stock options granted and to the acceleration of recognition of compensation expense on stock options granted to retirement eligible employees, both associated with stock option awards in June 2020.