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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of assumptions used in estimation of grant date fair value of options

Average Risk-free interest rate (a)			2.55	%
Expected dividend yield			0.0	%
Average expected volatility (b)			44.62	%
Termination rate			9	%
Suboptimal factor (c)			3.18

(a) Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.

(b) Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.

(c) Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)			0.75	%
Expected dividend yield			0.0	%
Average expected volatility (b)			45.29	%
Termination rate			9	%
Suboptimal factor (c)			3.16

(a) Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.

(b) Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.

(c) Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)			1.41	%
Expected dividend yield			0.0	%
Average expected volatility (b)			45.28	%
Termination rate			9	%
Suboptimal factor (c)			3.14

(a) Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.

(b) Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.

(c) Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)			1.79	%
Expected dividend yield			0.0	%
Average expected volatility (b)			44.38	%
Termination rate			9	%
Suboptimal factor (c)			3.16

(a) Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.

(b) Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.

(c) Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)			3.01	%
Expected dividend yield			0.0	%
Average expected volatility (b)			43.93	%
Termination rate			9	%
Suboptimal factor (c)			3.14

(a) Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.

(b) Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.

(c) Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)			2.91	%
Expected dividend yield			0.0	%
Average expected volatility (b)			44.02	%
Termination rate			9	%
Suboptimal factor (c)			3.14

(a) Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.

(b) Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.

(c) Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Average Risk-free interest rate (a)			3.91	%
Expected dividend yield			0.0	%
Average expected volatility (b)			41.78	%
Termination rate			7	%
Suboptimal factor (c)			2.76

(a) Risk-free interest rate represents risk free US$ zero-coupon US Government Bonds at time of grant.

(b) Expected average volatility represents a weighted average standard deviation rate for the price of the Company’s ordinary shares on the NASDAQ National Market.

(c) Suboptimal factor represents the multiple of the increase in the market share price on the day of grant of the option which, should it come to pass, will lead to exercise of the option by the employee. It is the average suboptimal factor of the Company and similar companies.

Schedule of stock option summary

Options outstanding

Options exercisable

Weighted average

Weighted average

remaining

remaining

Exercise price

Number

contractual life

Number

contractual life

US$

of options

(in years)

of options

(in years)

33.27

10,148

2.3

10,148

2.3

Schedule of stock option activity

						Weighted				Weighted
		Number				average exercise				average grant date
		of options				price				fair value
						US$				US$
Balance at January 1, 2021			590,047
Granted			133,925				41.84				16.62
Exercised			(132,702	)			34.01				12.85
Forfeited			(11,749	)			35.79				15.39
Balance at December 31, 2021			579,521
Granted			198,174				40.82				15.13
Exercised			(66,298	)			33.09				13.21
Forfeited			(50,335	)			41.67				15.75
Balance at December 31, 2022			661,062
Granted			137,911				35.12				15.84
Exercised			(45,474	)			29.91				12.33
Forfeited			(14,256	)			40.40				15.90
Expired			(729,095	)			37.80				15.05
Balance at December 31, 2023			10,148
Exercisable at December 31, 2023			10,148

Schedule of restricted share units activity

						Weighted
		Number of				average
		Restricted				grant date
		Share Units				fair value
						US$
Balance at January 1, 2021			86,000
Granted			-
Vested			-
Balance at December 31, 2021			86,000
Granted			16,000				43.02
Forfeited			(2,000	)			35.33
Vested			(43,000	)			35.33
Balance at December 31, 2022			57,000
Granted			86,000				36.24
Forfeited			(8,000	)			36.24
Vested			(41,000	)			35.33
Balance at December 31, 2023			94,000

Schedule of allocation of the stock-based compensation expenses

		Year ended December 31
		2021				2022				2023
		US$ thousands
Cost of sales			480				638				428
Research and development costs			1,011				1,454				1,423
Selling and marketing expenses			697				774				747
General and administrative expenses			674				711				755
			2,862				3,577				3,353

X

- Definition

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