Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 170

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 11
Chunk 170
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 June 5, 2024, Dr. Scherbakov transitioned from his role as CEO to an advisor to the Company. The amount reported for 2024 in the Salary column for Dr. Scherbakov represents his base salary for services as CEO through June 4, 2024.

(6)A portion of the amounts paid to Dr. Scherbakov were denominated in Euros. Dr. Scherbakov’s salary as CEO in 2024, 2023 and 2022 was approved in Euro. Amounts paid in Euros were translated into U.S. dollars at the average daily exchange rates for the full years. The average daily rates in 2024, 2023 and 2022 for the Euro were 0.92, 0.92 and 0.95, respectively. As a result of compensation being paid in a currency that fluctuates against the U.S. dollar, the amount of salary paid may vary slightly from the salary stated in an employment agreement or approved by the Compensation Committee.

(7)On September 15, 2024, Dr. Ovtchinnikov transitioned from his role as Senior Vice President, Chief Technology Officer to an advisor to the Company.  The amount reported for 2024 in the Salary column for Dr. Ovtchinnikov’s represents his base salary earned for services as Senior Vice President, Chief Technology Officer through September 15, 2024.

66

2024 Grants of Plan-Based Awards

NameGrant DateEstimated Possible PayoutsUnder Non-Equity IncentivePlan Awards($)(1)(2)Estimated Future PayoutsUnder Equity IncentivePlan Awards(#)(3)All Other Stock Awards: Number of Shares of Stock or Units (#)(4)Grant Date Fair Value of Stock and Option Awards ($)(5)ThresholdTargetMaximum(3)ThresholdTargetMaximumMark Gitin6/5/2024— — — 7,197 28,790 57,580 — 2,499,836 6/5/2024— — — — — — 28,791 2,499,923 Timothy Mammen2/16/2024269,350 430,960 969,660 — — — — — 2/16/2024— — — 3,270 13,080 26,160 — 1,