Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 43

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 16
Chunk 43
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. The final number of shares to be delivered under the PSUs range from 0% to 200% of the target award amount. 

F-24

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

The Company has not granted stock options since 2020. The following table summarizes the option activity for the year ended December 31, 2024:Number of OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual LifeAggregate Intrinsic ValueOutstanding at January 1, 2024769,162 $144.38 Granted— — Exercised(83,126)71.34 Forfeited(70,673)155.85 Outstanding at December 31, 2024615,363 $153.29 2.65 years$— Exercisable at December 31, 2024595,038 $152.84 2.64 years$— The intrinsic value of the options exercised during the years ended December 31, 2024, 2023 and 2022 was $1,747, $4,085 and $6,069, respectively. All option awards were vested during the year ended December 31, 2024. Cash received from option exercises during the year ended December 31, 2024 was $5,923. Tax benefit received from option exercises during the year ended December 31, 2024 was $446.The following table summarizes the RSUs activity for the year ended December 31, 2024:Number of SharesWeighted-Average Grant-Date Fair ValueNonvested at January 1, 2024475,931 $142.51 Granted528,835 86.09 Vested(225,834)143.41 Forfeited(35,666)111.65 Nonvested at December 31, 2024743,266 $103.41 The fair value of each restricted stock unit is the market price of Company stock on the date of grant. The weighted average grant date fair value of restricted stock units granted during the years ended December 31, 2024, 2023 and 2022 was $86.09, $128.71 and $131.32, respectively. The intrinsic value of the RSUs that vested during the years ended December