Company: COHU
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001437749-25-024281
Chunk: 36

Company: COHU INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 36
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 forfeited. On June 28, 2025, we had 735,679 PSUs outstanding with an aggregate intrinsic value of approximately $14.3 million and the weighted average remaining vesting period was approximately 2.0 years.

Employee Stock Purchase Plan

The ESPP provides for the issuance of shares of our common stock. Under the ESPP, eligible employees may purchase shares of Cohu common stock through payroll deductions at a price equal to 85 percent of the lower of the fair market value of Cohu common stock at the beginning or end of each 6-month purchase offering period, subject to certain limits. The two offering periods run from November 1 through April 30 and May 1 through October 31, respectively. During the first six months of fiscal 2025, 143,867 shares of our common stock were sold to our employees under the ESPP.

			7.

			Derivative Financial Instruments

Economic (Non-Designated) Hedges

We enter into foreign currency forward contracts to manage our foreign exchange exposure related to intercompany transactions and other balance sheet items that are subject to revaluation. For accounting purposes, our foreign currency forward contracts that are not designated as hedging instruments are recorded at fair value as of the end of our reporting period in our condensed consolidated balance sheets with changes in fair value recorded within foreign transaction gain (loss) in our condensed consolidated statements of operations for both realized and unrealized gains and losses. The gain or loss recorded on these instruments is substantially offset by the remeasurement adjustment on the foreign currency denominated asset or liability.

The location and amount of gains and losses related to non-designated derivative instruments in the condensed consolidated statements of operations were as follows (in thousands):

			Three Months Ended

			Six Months Ended

			Derivatives not designated

			Location of gain (loss)

			June 28,

			June 29,

			June 28,

			June 29,

			as hedging instruments

			recognized on derivatives

			2025

			2024

			2025

			2024

			Foreign exchange forward contracts

			Foreign transaction gain (loss)

			$
			3,790

			$
			(1,247
			)
			 
			$
			5,295

			(5,325
			)

Net Investment Hedges 

In the third quarter of fiscal