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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of recognized stock-based compensation expense
The following table summarizes share-based compensation expense recognized:


 
 
Years ended December 31,
 
 
 
2012
  
2011
  
2010
 
 
 
  
  
 
Stock options
 
$
73
  
$
(83
)
 
$
619
 
Restricted stock units
  
3,378
   
6,693
   
1,849
 
Phantom stock units
  
93
   
222
   
175
 
Total
 
$
3,544
  
$
6,832
  
$
2,643
 
Schedule of unrecognized compensation cost, nonvested awards
The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at December 31, 2012 (amortization periods in years):
 
 
Unrecognized Compensation
Cost
   
 
  
 
 
Weighted Average Remaining Amortization Periods
 
 
 
  
 
Stock options
 
$
18
   
0.4
 
Restricted stock units
  
6,321
   
1.1
 
Phantom stock units
  
-
   
0.0
 
Total
 
$
6,339
     
Schedule of share based compensation, stock options, activity
The following table summarizes the Company's stock option activity (number of options in thousands):


 
 
Years ended December 31,
 
 
 
2012
  
2011
  
2010
 
 
 
  
Weighted Average Exercise Price
  
  
Weighted Average Exercise Price
  
  
Weighted Average Exercise Price
 
 
 
Number
of
Options
  
Number
of
Options
  
Number
of
Options
 
 
 
Outstanding:
 
  
  
  
  
  
 
Beginning of year
  
384
  
$
15.40
   
1,254
  
$
15.04
   
2,728
  
$
19.84
 
Granted
  
-
   
-
   
-
   
-
   
-
   
-
 
Exercised
  
(22
)
  
7.89
   
(651
)
  
14.87
   
-
   
-
 
Cancelled or forfeited
  
(253
)
  
16.12
   
(219
)
  
14.92
   
(1,733
)
  
20.35
 
Adjustment due to VPG spin-off*
  
-
   
-
   
-
   
-
   
259
   
-
 
End of year*
  
109
  
$
15.24
   
384
  
$
15.40
   
1,254
  
$
15.04
 
 
                        
Vested and expected to vest*
  
109
       
384
       
1,254
     
 
                        
Exercisable:
                        
End of year*
  
79
       
323
       
1,001
     

                          
* The weighted average exercise price of the stock options included in the line item "Adjustment due to VPG spin-off" is equal to the weighted average exercise price of such stock options prior to the spin-off, as reduced by the spin-off adjustment.  The weighted average exercise price of stock options outstanding, vested and expected to vest, and exercisable as of December 31, 2010 also reflects the decrease in the exercise price as a result of the spin-off adjustment.
Stock options outstanding and exercisable summarized by ranges of exercise prices
The following table summarizes information concerning stock options outstanding and exercisable at December 31, 2012 (number of options in thousands, contractual life in years):


 
 
Options Outstanding
 
 
Options Exercisable
 
 
 
 
 
Weighted Average Remaining
Contractual Life
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Exercise Price
 
 
 
 
Weighted Average Exercise Price
 
 
 
 
 
 
 
 
Number of Options
 
 
Number of Options
 
Exercise Price
 
 
 
 
 
 
 
 
 
 
 
 
$
11.54 - $12.90
 
 
 
32
 
 
 
3.85
 
 
$
12.73
 
 
 
27
 
 
$
12.70
 
$
16.29
 
 
 
77
 
 
 
4.39
 
 
 
16.29
 
 
 
52
 
 
 
16.29
 
Total
 
 
 
109
 
 
 
4.23
 
 
$
15.24
 
 
 
79
 
 
$
15.06
 
 
Unvested stock options
The following table summarizes information concerning unvested stock options (number of options in thousands):


 
 
Years ended December 31,
 
 
 
2012
  
2011
  
2010
 
 
 
  
Weighted Average Grant-date Fair Value
  
  
Weighted Average Grant-date Fair Value
  
  
Weighted Average Grant-date Fair Value
 
 
 
Number
of
Options
  
Number
of
Options
  
Number
of
Options
 
 
 
Unvested:
 
  
  
  
  
  
 
Beginning of year
  
61
  
$
9.96
   
253
  
$
9.33
   
328
  
$
9.93
 
Granted
  
-
   
-
   
-
   
-
   
-
   
-
 
Vested
  
(31
)
  
9.79
   
(192
)
  
9.13
   
(81
)
  
9.24
 
Forfeited
  
-
   
-
   
-
   
-
   
(19
)
  
7.95
 
Adjustment due to VPG spin-off*
  
-
   
-
   
-
   
-
   
25
   
-
 
End of year*
  
30
  
$
10.14
   
61
  
$
9.96
   
253
  
$
9.33
 
___________
* The weighted average grant date fair value of the stock options included in the line item "Adjustment due to VPG spin-off" is equal to the weighted average grant date fair value of such stock options prior to the spin-off, as reduced by the spin-off adjustment.  The weighted average grant date fair value of stock options outstanding as of December 31, 2010 also reflects the decrease in the grant date fair value as a result of the spin-off adjustment.
Restricted Stock Units Activity
As a consequence of the spin-off of VPG on July 6, 2010, approximately 60,000 make-up RSUs were granted to reflect the loss of value to the unit holders due to the decrease in the trading price of Vishay's common stock as result of the spin-off.  Additionally, approximately 5,000 RSUs that were held by VPG employees expired.  RSU activity for the years ended December 31, 2012, 2011, and 2010 is presented below (number of RSUs in thousands):


 
 
Years ended December 31,
 
 
 
2012
  
2011
  
2010
 
 
 
  
Weighted Average Grant-date Fair Value
  
  
Weighted Average Grant-date Fair Value
  
  
Weighted Average Grant-date Fair Value
 
 
 
Number
of
RSUs
  
Number
of
RSUs
  
Number
of
RSUs
 
 
 
Outstanding:
 
  
  
  
  
  
 
Beginning of year
  
891
  
$
12.58
   
634
  
$
9.61
   
155
  
$
9.14
 
Granted
  
437
   
12.31
   
423
   
16.57
   
509
   
10.87
 
Vested
  
(12
)
  
8.29
   
(154
)
  
11.25
   
(76
)
  
9.68
 
Cancelled or forfeited
  
-
   
-
   
(12
)
  
13.26
   
(14
)
  
8.83
 
Adjustment due to VPG spin-off*
  
-
   
-
   
-
   
-
   
60
   
-
 
End of year*
  
1,316
  
$
12.53
   
891
  
$
12.58
   
634
  
$
9.61
 
                          
* The weighted average grant date fair value per unit included in the line item "Adjustment due to VPG spin-off" is equal to the weighted average grant date fair value per unit of such RSUs prior to the spin-off, as reduced by the spin-off adjustment.  The weighted average grant date fair value per unit of RSUs outstanding as of December 31, 2010 also reflects the decrease in the grant date fair value as a result of the spin-off adjustment.
Schedule of share-based compensation arrangement by share-based payment award, performance-based units, vested and expected to vest
The Company recognizes compensation cost for RSUs that are expected to vest.  The performance vesting criteria of the RSUs granted in the year ended December 31, 2010 that contain performance-based vesting criteria have been adjusted by 10% to reflect the absence of VPG within Vishay's consolidated results. The Company expects the performance-based vesting criteria for the outstanding performance-based RSUs that are scheduled to vest on January 1, 2013 and 2014 to be achieved.  The stock-based compensation expense recognized for 276,000 performance-based RSUs scheduled to vest on January 1, 2015 was reversed in the fourth fiscal quarter of 2012 at the time that it was determined that the performance-based vesting criteria was not expected to be achieved.  RSUs with performance-based vesting criteria are expected to vest as follows (number of RSUs in thousands):


Vesting Date
 
Number of RSUs
 
January 1, 2013
  
324
*
January 1, 2014
  
233
 
January 1, 2015
  
-
 

                          
* The performance vesting criteria for the performance-based RSUs with a vesting date of January 1, 2013 has been achieved.
Phantom stock units activity under the 2007 Program
In accordance with the Phantom Stock Plan, following Dr. Zandman's passing, 43,667 phantom stock units held by Dr. Zandman's estate were redeemed as common stock.  As a consequence of the spin-off of VPG on July 6, 2010, approximately 15,000 make-up phantom stock units were granted to reflect the loss of value to the unit holders due to the decrease in the trading price of Vishay's common stock as result of the spin-off.  Additionally, 38,667 phantom stock units held by a VPG employee were adjusted and redeemed as common stock on December 7, 2010.  The following table summarizes the Company's phantom stock units activity for the years ended December 31, 2012, 2011, and 2010 (number of phantom stock units in thousands):


 
 
Years ended December 31,
 
 
 
2012
  
2011
  
2010
 
 
 
Number
of
Phantom
Stock Units
  
Grant-
date
Fair Value per Unit
  
Number
of
Phantom
Stock Units
  
Grant-
date
Fair Value per Unit
  
Number
of
Phantom
Stock Units
  
Grant-
date
Fair Value per Unit
 
 
 
 
Outstanding:
 
  
  
  
  
  
 
Beginning of year
  
87
  
   
116
  
   
120
  
 
Granted
  
10
  
$
9.33
   
15
  
$
14.78
   
20
  
$
8.76
 
Redeemed for common stock
  
-
       
(44
)
      
(39
)
    
Adjustment due to VPG spin-off
  
-
       
-
       
15
     
End of year
  
97
       
87
       
116
     
 
                        
Available for
                        
  future grants
  
85
       
95
       
110