Company: IPGP
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001111928-25-000023
Chunk: 167

Company: IPG PHOTONICS CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 11
Chunk 167
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4. None of these persons has at any time been an officer or employee of our Company or any of our subsidiaries or had any other relationship with the Company requiring disclosure herein. During fiscal year 2024, none of the Company’s executive officers served as a member of the board of directors or compensation committee of another entity in which one of the executive officers of such entity served as a member of the Company’s Board or Compensation Committee.

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Compensation Committee Report

The Compensation Committee of the Board has reviewed and discussed with management the Compensation Discussion and Analysis. Based on this review and discussion, the Compensation Committee recommended to the Board that the Compensation Discussion and Analysis be included in the Company’s Proxy Statement for the Company’s 2025 Annual Meeting of Stockholders and in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

COMPENSATION COMMITTEEGregory Dougherty, Chair Jeanmarie DesmondEric Meurice John Peeler

The information in the Compensation Committee Report shall not be considered “soliciting material” or “filed” with the SEC, nor shall this information be incorporated by reference into any previous or future filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent that the Company incorporates it by specific reference.

65

Executive Compensation Tables

Summary Compensation Table

The following table provides information regarding the total compensation of our NEOs for fiscal year 2024 and, to the extent such NEOs were NEOs in either the 2024 or 2023 proxy statements, fiscal years 2023 and/or 2022 compensation, as applicable.

Name and Principal PositionYearSalary ($)Bonus($)Stock Awards ($)(1)Non-Equity Incentive Plan Compensation ($)(2)All Other Compensation ($)(3)Total ($)Mark GitinChief Executive Officer(4)2024411,346 775,000 4,999,759 — 514,720 6,700,825 Timothy Mammen Chief Financial Officer and Senior Vice President2024538,700 — 2,262,403 265,300 9,286 3,075,689 2023538,700 — 1,616,014 102,353 9,900 2,266,967 2022520,500 — 1,561,276 270,900 9,150 2,363