Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 185

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 11
Chunk 185
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 vesting date. If the election to the Board for a new director occurs other than at an annual meeting of stockholders, the subsequent annual equity grant is pro-rated based upon time the director served since first election. Any director who retires after at least eight years of service on the Board will be entitled to full vesting of all RSUs then held by the director. 

We pay for, provide or reimburse directors for expenses, including business class travel, incurred to attend Board and committee meetings and director education programs. We do not pay our non-employee directors any additional payments or perquisites. Our directors do not have a retirement plan. Directors who are also employees receive no additional compensation for service on the Board.

Director Compensation Table

The following table summarizes the compensation of each of our non-employee directors for 2024:

NameFees Earned or Paid in Cash ($)Stock Awards ($)(1)Total ($)Gregory Beecher60,000 249,950 309,950 Michael Child42,776 249,950 292,726 Jeanmarie Desmond75,000 249,950 324,950 Gregory Dougherty75,000 249,950 324,950 Kolleen Kennedy44,724 249,950 294,674 Eric Meurice66,989 249,950 316,939 Natalia Pavlova44,724 249,950 294,674 John Peeler132,776 249,950 382,726 Agnes Tang52,500 249,950 302,450 

(1)The amount reported is equal to the fair value of the RSU awards as of the grant date determined pursuant to Financial Accounting Standards Board Accounting Standards Codification Topic 718 ("ASC Topic 718") disregarding any estimates of forfeitures related to service-based vesting. The assumptions that we used with respect to the valuation of RSU awards are set forth in Note 15 to our Consolidated Financial Statements in our Annual Report.

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Outstanding Equity Awards

The following table provides information regarding unexercised stock options and unvested RSUs held by each of our non-employee directors on December 31, 2024:

NameUnvested RestrictedStock Units (#)Total Number of Shares UnderlyingOption Awards Held (#)Gregory Beecher3,022 — Michael Child3,022 10,578 Jeanmarie Desmond3,022 — Gregory Dough