Company: IPGP
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001111928-25-000054
Chunk: 20

Company: IPG PHOTONICS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 20
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 any immediate family member of the independent director and determined that no material relationships with the Company existed during 2024 or to date in 2025. On th e basis of this review, the Nominating Subcommittee determined that each of the following director nominees qualifies as an independent director as defined in Nasdaq guidelines, SEC rules and under our Corporate Governance Guidelines: Gregory Beecher, Jeanmarie Desmond, Kolleen Kennedy, Gregory Dougherty, Eric Meurice, John Peeler and Agnes Tang. The Nominating Subcommittee also determined that Michael Child, who is not standing for reelection as a director this year, was independent. Addition ally, the Nominating Subcommittee determined that each member of the Audit Committee and the Compensation Committee meets the independence standards specific for members of such committees under Nasdaq guidelines and SEC rules. The Board agreed with these determinations by the Nominating Subcommittee. Ms. Pavlova is not considered independent because she is the spouse of Dr. Igor Samartsev, an executive officer of the Company. Dr. Scherbakov is not considered independent under Nasdaq listing rules because he served as CEO within three years of such independence determination. Dr. Mark Gitin, as our current CEO, is not considered independent.

Additionally, our independent directors meet privately, without non-independent directors or management present, at least four times during the year. These private sessions are generally held in conjunction with the regular quarterly Board meetings. Other private meetings of the independent directors are held as often as deemed necessary by them and are led by Mr. Peeler as non-executive Chair. Board committees meet without non-independent directors or management present from time to time as they deem necessary.

24 NOTICE OF 2025 ANNUAL MEETING AND PROXY STATEMENT

| Standing Committees and Board Committee Membership |

The Board has three standing committees. The Audit Committee and the Compensation Committee are each composed entirely of non-employee, independent directors. Ms. Pavlova serves on the NCGC and is not considered independent. Under their written charters adopted by the Board, each of these committees is authorized and assured appropriate funding to retain and consult with external advisors, consultants and counsel. Below we provide the principal functions and current members of the standing Board committees.

#### Audit Committee
| MEMBERS                   |     | FUNCTIONS:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Jeanmarie Desmond (Chair) 
 Gregory Beecher           
 Gregory Dougherty         
 Agnes Tang                
 Meetings in 2024: 8       |     | •Providing oversight