Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 44

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 16
Chunk 44
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 31, 2024, 2023 and 2022, was $19,634, $23,082 and $14,750, respectively. The total compensation cost related to nonvested RSU awards not yet recorded at December 31, 2024 was $44,763 which is expected to be recognized over a weighted-average of 1.8 years. The aggregate fair value of awards vested during the years ended December 31, 2024, 2023 and 2022 was $32,386, $28,319, $22,779, respectively.The following table summarizes TSR PSUs activity for the year ended December 31, 2024:Number of SharesWeighted-Average Grant-Date Fair ValueNonvested at January 1, 202414,908 $233.75 Granted— — Vested— — Canceled / Forfeited(14,908)233.75 Nonvested at December 31, 2024— $— The Company has not granted TSR PSUs since 2021. For the year ended December 31, 2022, the weighted average grant date fair value for new grants was $0.00. TSR PSUs are expensed at 100% of the target goal. The intrinsic value of the TSR PSUs vested during the years ended December 31, 2024, 2023 and 2022 was nil, $128, and nil, respectively. The aggregate fair value of awards vested during the years ended December 31, 2024, 2023 and 2022 was nil, $331, and nil, respectively. There are no remaining nonvested TSR PSUs at December 31, 2024.

F-25

Table of ContentsIPG PHOTONICS CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(In thousands, except share and per share data)

The following table summarizes financial metric-based PSUs activity for the year ended December 31, 2024:Number of SharesWeighted-Average Grant-Date Fair ValueNonvested at January 1, 2024128,346 $144.61 Granted128,788 86.54 Vested(9,863)72.72 Canceled / Forfeited(1,686)110.40 Nonvested at December 31, 2024245,585 $107.97 For