Company: IPGP
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001111928-25-000054
Chunk: 65

Company: IPG PHOTONICS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 65
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 of stock options (including through “net exercise”), (ii) shares repurchased on the open market with the proceeds of the stock option exercise price, (iii) the total number of shares granted pursuant to stock-settled stock appreciation rights, and (iv) any shares withheld by the Company to satisfy tax obligations with respect to stock options or stock appreciation rights.

Awards under the 2025 Plan will be adjusted as appropriate upon a change in the Company’s capitalization, a reorganization or similar transaction or a stock dividend. In such event, in order to prevent the dilution or enlargement of benefits, the Committee (as defined below) will have the authority to adjust, in an equitable manner, the number and kind of shares that may be issued under the 2025 Plan, the number and kind of shares subject to outstanding awards, the exercise price of outstanding stock options and stock appreciation rights, the fair market value of the common stock and other value determinations applicable to outstanding awards and the terms of awards granted under the 2025 Plan. In addition, the Committee may make adjustments to the terms and conditions of, and the criteria included in, awards in recognition of unusual or nonrecurring events affecting the Company or the financial statements of the Company, or in response to changes in applicable laws, regulations, or accounting principles.

Limitations. The 2025 Plan provides for the following award limitations:

• The sum of the grant date fair value (determined as of the grant date in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of all equity-based awards and the maximum amount that may become payable pursuant to all cash-based awards that may be granted as compensation for services to a non-employee director during any calendar year will not exceed $1,200,000.

• No more than 2,100,000 shares may be cumulatively available for awards of incentive stock options under the 2025 Plan.

• The aggregate market value of common stock with respect to which incentive stock options are exercisable for the first time by a participant in a single calendar year may not exceed $100,000 or such other limit imposed by the Internal Revenue Code of 1986, as amended (the "Code").

Administration. The 2025 Plan will be administered by the Board or a committee or subcommittee of the Board appointed by the Board from among its members (the “Committee”). Unless the Board determines otherwise, the Committee must consist of at least two members who qualify as