Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 154

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 11
Chunk 154
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 under the 2024 AIP and Dr. Gitin did not participate in the Revised AIP in light of his new hire bonus.  

Target(1)ActualNameAnnual Base SalaryTarget Annual Incentive %Corporate Performance Target (weighting)Personal Performance Target (weighting)Target AnnualIncentive $FinancialPersonalFinalAward $Final Award as% of TargetPerformance %Performance %Timothy Mammen$538,700 80 %75 %25 %$430,960 100 %+96.25 %$265,300 61.6 %Trevor Ness$501,000 80 %75 %25 %$400,800 100 %+94.75 %$245,200 61.2 %Angelo Lopresti$485,500 80 %75 %25 %$388,400 100 %+100 %$242,800 62.5 %Igor Samartsev$424,200 50 %75 %25 %$212,100 100 %+90 %$127,200 60.0 %

(1)The "threshold" and "maximum" amounts under the AIP are provided in the 2024 Grants of Plan-Based Awards table.  Under the Revised AIP, payout for financial and personal performance was capped at 62.5% of the original target payout.

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Historical AIP Performance

The following graphic shows AIP payouts compared to targets for fiscal years 2022 to 2024, demonstrating the strong connection between pay and performance in the Company's annual incentive compensation practices.

*    For 2024, represents payouts to continuing NEOs and excludes new hire bonus to newly hired CEO.

Long-Term Incentives

The goal of our equity-based award program is to provide employees and executives with the perspective of an owner having a long-term financial stake in our success, further increasing alignment with stockholders. Our equity-based incentives align the interests of our executives and stockholders by motivating executives to increase long-term stockholder value.

In 2024, our equity-based award program for our NEOs included PSUs and RSUs, with each award type representing half of the overall 2024 long-term incentive award opportunity (at target for the PSUs). The type and proportion of the equity grants reflected a review by our Compensation Committee, with the assistance of