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Stock-Based Compensation | 9 Months Ended
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Sep. 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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cost of revenues |  | $ | 886 |  |  | $ | 693 |  |  | $ | 2,384 |  |  | $ | 1,749 |
Selling, general and administrative |  |  | 2,036 |  |  |  | 1,788 |  |  |  | 5,712 |  |  |  | 4,934 |
Research and development |  |  | 1,112 |  |  |  | 977 |  |  |  | 3,149 |  |  |  | 2,604 |
Total stock-based compensation |  | $ | 4,034 |  |  | $ | 3,458 |  |  | $ | 11,245 |  |  | $ | 9,287 |
Compensation expense by type of award was as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Stock options |  | $ | 3,783 |  |  | $ | 3,161 |  |  | $ | 10,416 |  |  | $ | 8,358 |
ESPP |  |  | 251 |  |  |  | 297 |  |  |  | 829 |  |  |  | 929 |
Total stock-based compensation |  | $ | 4,034 |  |  | $ | 3,458 |  |  | $ | 11,245 |  |  | $ | 9,287 |

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