Company: IPGP
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001111928-25-000054
Chunk: 69

Company: IPG PHOTONICS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 69
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 a restriction period. The restrictions lapse after the restriction period, which extends from the date of the award to a specific date or until the participant achieves and/or completes specified performance goals, service periods, or other criteria set by the Committee. The Committee may provide for the lapse of restrictions in installments.

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Proposal 3: Approval of the 2025 Incentive Compensation Plan

If a participant terminates service with the Company within specified periods prior to the expiration of the restriction period, all shares of restricted stock generally will be forfeited and reacquired by the Company, unless the Committee determines otherwise. Dividends payable with respect to restricted stock will be payable only if, and only to the extent that, the conditions and restrictions relating to such award have been satisfied or lapse. Awards of stock units may earn dividend equivalents, if permitted by the Committee and specified in the award agreement but dividend equivalent rights on an award of stock units will be payable only if, and only to the extent that, the conditions and restrictions relating to such award have been satisfied or lapse. Upon the vesting date of a stock unit, shares of stock or cash or a combination thereof will be distributed to the participant.

Performance Shares and Performance Units. Performance shares and performance units may be granted under the 2025 Plan, subject to the participant’s completion of a performance period and the achievement of performance goals, as set by the Committee for each such grant. The Committee may adjust any performance goals for outstanding performance shares or performance units, unless the Committee restricts its authority to do so.

Dividends payable with respect to performance shares will be payable only if, and only to the extent that, the conditions and restrictions relating to such award have been satisfied or lapse. Awards of performance units may earn dividend equivalents, if permitted by the Committee and specified in the award agreement but dividend equivalent rights on an award of performance units will be payable only if, and only to the extent that, the conditions and restrictions relating to such award have been satisfied or lapse. Upon the vesting of performance shares or performance units, the shares of stock underlying the performance shares or the cash value of the performance units will vest and/or be distributed to the participant, unless the Committee decides to pay such awards in cash or a combination of cash and stock.

Dividend Equivalent Rights. Dividend equivalent rights on any portion of an award will be payable only if, and only to the extent that, the conditions and restrictions relating to such award have been satisfied or lapse and will be forfeited if, and