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[8-K] IPG PHOTONICS CORP Reports Material Event

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IPG Photonics amended and restated its Executive Severance Plan, replacing the prior plan and extending coverage generally to executives at the Vice President level and above (the CEO is not a participant). The updated plan clarifies severance triggers for an Involuntary Termination and adjusts treatment of performance-based equity and cash bonuses depending on whether a termination follows a Change in Control. Key changes include prorating performance equity for Tier One executives based on actual performance with an extra twelve months of deemed service, lump-sum cash bonus multiples of 200% for Tier One and 150%/100% for Tier Two/Three in Change in Control scenarios, and a temporary two-year transition window that preserves enhanced benefits for Tier Two and Tier Three executives for qualifying terminations within 24 months of a Change in Control. Four SVPs will be covered as Tier One and had prior employment agreements terminated, continuing as at-will employees under participation agreements that include general releases.

IPG Photonics ha modificato e riformulato il proprio Executive Severance Plan, sostituendo il piano precedente e estendendo la copertura in generale agli executive al livello di Vice President e superiore (il CEO non è partecipante). Il piano aggiornato chiarisce i trigger di indennità in caso di Involuntary Termination e aggiusta il trattamento delle azioni basate sulle performance e dei bonus in contanti a seconda che una terminazione avvenga a seguito di un Change in Control. Le modifiche chiave includono la ripartizione proporzionale delle azioni legate alle prestazioni per i dirigenti Tier One basata sulla prestazione effettiva con ulteriori dodici mesi di presunta servizio, multipli dei bonus in contanti una tantum del 200% per Tier One e 150%/100% per Tier Two/Three negli scenari di Change in Control, e una finestra di transizione temporanea di due anni che preserva benefici migliorati per i dirigenti Tier Two e Tier Three per terminazioni qualificate entro 24 mesi da un Change in Control. Quattro SVP saranno coperti come Tier One e avevano contratti di lavoro precedenti terminati, rimanendo come dipendenti con contratto a tempo indeterminato sotto accordi di partecipazione che includono liberazioni generali.

IPG Photonics enmendó y reformuló su Plan de Severance Ejecutivo, reemplazando el plan anterior y extendiendo la cobertura de manera general a los ejecutivos del nivel de Vicepresidente y superiores (el CEO no es participante). El plan actualizado aclara los desencadenantes de indemnización por Terminación Involuntaria y ajusta el tratamiento de las acciones basadas en el desempeño y de los bonos en efectivo según si una terminación ocurre tras un Cambio de Control. Los cambios clave incluyen prorratear la participación en el rendimiento para los ejecutivos de Tier One basándose en el rendimiento real con doce meses adicionales de servicio considerado, múltiplos de bonos en efectivo de una suma global de 200% para Tier One y 150%/100% para Tier Two/Tier Three en escenarios de Cambio de Control, y una ventana de transición temporal de dos años que preserva beneficios mejorados para los ejecutivos de Tier Two y Tier Three para terminaciones calificadas dentro de 24 meses de un Cambio de Control. Cuatro SVPs serán cubiertos como Tier One y tenían acuerdos laborales previos terminados, continuando como empleados a voluntad bajo acuerdos de participación que incluyen liberaciones generales.

IPG Photonics는 임원 퇴직급여 제도를 수정하고 재정비하여 이전 계획을 대체하고 일반적으로 부사장급 이상 임원까지의 적용 범위를 확장했습니다(CEO는 참가자가 아님). 업데이트된 계획은 비자발적 해고(Involuntary Termination)에 대한 퇴직 보상 트리거를 명확히 하고 변화된 지배(Change in Control) 이후의 해고 여부에 따라 실적 기반 주식 및 현금 보너스의 처리 방식을 조정합니다. 주요 변경 사항으로는 Tier One 임원에 대한 실적 기반 주식의 실제 성과에 따라 12개월의 간주 서비스가 추가로 부여되는 프로레이션, Change in Control 시 Tier One은 현금 보너스 배수 200%, Tier Two/Tier Three는 150%/100%로 설정, 그리고 Change in Control으로 인해 24개월 이내에 자격 종료에 대한 향상된 혜택을 보전하는 2년간의 임시 전환 기간이 있습니다. Tier One으로 커버되는 네 명의 SVP는 이전 고용계약이 종료되었고 자발적 고용 형태로 일반 해제 포함된 참여계약 아래에서 계속 근무합니다.

IPG Photonics a modifié et révisé son Plan de licenciement exécutif, remplaçant l’ancien plan et étendant généralement la couverture aux cadres au niveau Vice‑Président et au‑dessus (le PDG n’est pas participant). Le plan mis à jour clarifie les déclencheurs d’indemnité en cas de licenciement involontaire et ajuste le traitement des actions basées sur la performance et des primes en espèces selon qu’un licenciement survient après un Changement de Contrôle. Les changements clés comprennent une proratisation des actions liées à la performance pour les cadres de Tier One basée sur la performance réelle avec douze mois supplémentaires de service présumé, des multiples de primes en espèces forfaitaires de 200 % pour le Tier One et de 150 % / 100 % pour le Tier Two / Tier Three dans les scénarios de Changement de Contrôle, et une période de transition temporaire de deux ans qui preserve les avantages améliorés pour les cadres des Tier Two et Tier Three pour les licenciements qualifiés dans les 24 mois suivant un Changement de Contrôle. Quatre SVP seront couverts en tant que Tier One et avaient des accords d’emploi antérieurs résiliés, continuant comme des employés à durée indéterminée sous des accords de participation qui incluent des libérations générales.

IPG Photonics hat seinen Executive Severance Plan geändert und neu gefasst, den früheren Plan ersetzt und den Geltungsbereich im Allgemeinen auf Führungskräfte der Vice‑President‑Ebene und darüber hinaus ausgeweitet (der CEO ist kein Teilnehmer). Der aktualisierte Plan klärt Abfindungsgründe bei einer unfreiwilligen Kündigung und passt die Behandlung von leistungsabhängigen Aktien und Barboni je nachdem an, ob eine Kündigung nach einer Veränderung der Kontrolle erfolgt. Wichtige Änderungen umfassen die anteilige Zuteilung von Leistungsaktien für Tier‑One‑Führungskräfte basierend auf der tatsächlichen Leistung mit zusätzlichen zwölf Monaten als sogenannter Dienst, Pausenloser Einmalbonusbetrag von 200 % für Tier One und 150 %/100 % für Tier Two/Three in Change‑in‑Control‑Szenarien, und ein zeitlich begrenztes zwei‑Jahres‑Übergangsfenster, das verbesserte Leistungen für Tier Zwei und Tier Drei‑Führungskräfte bei qualifizierten Kündigungen innerhalb von 24 Monaten nach einer Change in Control bewahrt. Vier SVP werden als Tier One abgedeckt und hatten frühere Arbeitsverträge gekündigt, bleiben als „at‑will“ Angestellte unter Teilnahmevereinbarungen, die allgemeine Freigaben einschließen.

قامت IPG Photonics بتعديل وإعادة صياغة خطتها للتسريح التنفيذي، مع استبدال الخطة السابقة وتوسيع التغطية بشكل عام لموظفي المستوى نائب President والاعلى (الرئيس التنفيذي ليس مشاركاً). توضح الخطة المحدثة أسباب التعويض عند إنهاء الخدمة القسري وتعدل معاملة الأسهم القائمة على الأداء والمكافآت النقدية اعتماداً على ما إذا كان الإنهاء بعد التحول في السيطرة. تشمل التغييرات الرئيسية تبديل نسبة الأداء لموظفي Tier One بناءً على الأداء الفعلي مع وجود اثني عشر شهراً إضافياً من الخدمة المفترضة، مضاعفات مكافأة نقدية قدرها 200% لـ Tier One و150%/100% لـ Tier Two/Three في سيناريوهات التحول، ونافذة انتقالية مؤقتة لمدة عامين تحافظ على المزايا المحسّنة للموظفين من Tier Two وTier Three لإنهاءات مؤهَّلة خلال 24 شهراً من التحول في السيطرة. ستغطي أربعة SVPs كـTier One وقد تم إنهاء عقود عملهم السابقة، ويستمرون كموظفين بموافقة حرة بموجب اتفاقيات مشاركة تتضمن تنازلات عامة.

IPG Photonics 修改并重新表述了其高管离职金计划，替代了先前的计划，并通常将覆盖范围扩展至副总裁级及以上的高管（CEO 不参与）。更新后的计划澄清了在被动性终止（Involuntary Termination）情况下的离职金触发条件，并根据是否在变更控制（Change in Control）后发生解雇来调整基于业绩的股权和现金奖金的处理。主要变更包括：对 Tier One 高管按实际业绩进行绩效股的按比例分配，额外增加十二个月的推定服务；在变更控制情形下 Tier One 的一次性现金奖金倍数为 200%，Tier Two/Tier Three 分别为 150%/100%；以及一个为期两年的临时过渡期，在变更控制后 24 个月内符合条件的终止保留 Tier Two 和 Tier Three 高管的增强福利。四名高级副总裁将按 Tier One 覆盖，且其先前的雇佣协议已终止，作为随意雇用员工继续存在于包含一般释放条款的参与协议下。

Positive
  • Performance-based equity is prorated for Tier One executives based on actual performance, with an extra 12 months of deemed service for vesting
  • Change in Control cash severance is paid in lump-sum with clear bonus multiples (200%, 150%, 100%) reducing ambiguity in payout timing
  • Four Senior Vice Presidents (Angelo Lopresti, Timothy Mammen, Trevor Ness, Dr. Igor Samartsev) are transitioned into the plan as Tier One, centralizing severance terms
Negative
  • The CEO is not a participant, which may create unequal executive severance coverage
  • Termination of prior employment agreements for four SVPs includes a general release surrendering rights to prior termination payments
  • The plan increases the company's near-term cash exposure by specifying lump-sum CIC payouts at fixed multiples

Insights

Plan raises upfront payouts and clarifies equity treatment for post-termination awards.

The Severance Plan formalizes lump-sum cash treatment for Change in Control payouts, specifying a 200% target bonus multiple for Tier One and 150%/100% for Tier Two/Three, which makes potential post-CIC cash obligations immediate and fixed.

Performance-based equity for Tier One executives outside a Change in Control is now prorated by actual performance and granted additional deemed service of twelve months for vesting, ensuring some pay-for-performance alignment while accelerating vesting mechanics.

The plan creates a two-year transition window preserving enhanced benefits for Tier Two/Three upon qualifying CIC terminations; monitor that window as it materially affects severance exposure.

IPG Photonics ha modificato e riformulato il proprio Executive Severance Plan, sostituendo il piano precedente e estendendo la copertura in generale agli executive al livello di Vice President e superiore (il CEO non è partecipante). Il piano aggiornato chiarisce i trigger di indennità in caso di Involuntary Termination e aggiusta il trattamento delle azioni basate sulle performance e dei bonus in contanti a seconda che una terminazione avvenga a seguito di un Change in Control. Le modifiche chiave includono la ripartizione proporzionale delle azioni legate alle prestazioni per i dirigenti Tier One basata sulla prestazione effettiva con ulteriori dodici mesi di presunta servizio, multipli dei bonus in contanti una tantum del 200% per Tier One e 150%/100% per Tier Two/Three negli scenari di Change in Control, e una finestra di transizione temporanea di due anni che preserva benefici migliorati per i dirigenti Tier Two e Tier Three per terminazioni qualificate entro 24 mesi da un Change in Control. Quattro SVP saranno coperti come Tier One e avevano contratti di lavoro precedenti terminati, rimanendo come dipendenti con contratto a tempo indeterminato sotto accordi di partecipazione che includono liberazioni generali.

IPG Photonics enmendó y reformuló su Plan de Severance Ejecutivo, reemplazando el plan anterior y extendiendo la cobertura de manera general a los ejecutivos del nivel de Vicepresidente y superiores (el CEO no es participante). El plan actualizado aclara los desencadenantes de indemnización por Terminación Involuntaria y ajusta el tratamiento de las acciones basadas en el desempeño y de los bonos en efectivo según si una terminación ocurre tras un Cambio de Control. Los cambios clave incluyen prorratear la participación en el rendimiento para los ejecutivos de Tier One basándose en el rendimiento real con doce meses adicionales de servicio considerado, múltiplos de bonos en efectivo de una suma global de 200% para Tier One y 150%/100% para Tier Two/Tier Three en escenarios de Cambio de Control, y una ventana de transición temporal de dos años que preserva beneficios mejorados para los ejecutivos de Tier Two y Tier Three para terminaciones calificadas dentro de 24 meses de un Cambio de Control. Cuatro SVPs serán cubiertos como Tier One y tenían acuerdos laborales previos terminados, continuando como empleados a voluntad bajo acuerdos de participación que incluyen liberaciones generales.

IPG Photonics는 임원 퇴직급여 제도를 수정하고 재정비하여 이전 계획을 대체하고 일반적으로 부사장급 이상 임원까지의 적용 범위를 확장했습니다(CEO는 참가자가 아님). 업데이트된 계획은 비자발적 해고(Involuntary Termination)에 대한 퇴직 보상 트리거를 명확히 하고 변화된 지배(Change in Control) 이후의 해고 여부에 따라 실적 기반 주식 및 현금 보너스의 처리 방식을 조정합니다. 주요 변경 사항으로는 Tier One 임원에 대한 실적 기반 주식의 실제 성과에 따라 12개월의 간주 서비스가 추가로 부여되는 프로레이션, Change in Control 시 Tier One은 현금 보너스 배수 200%, Tier Two/Tier Three는 150%/100%로 설정, 그리고 Change in Control으로 인해 24개월 이내에 자격 종료에 대한 향상된 혜택을 보전하는 2년간의 임시 전환 기간이 있습니다. Tier One으로 커버되는 네 명의 SVP는 이전 고용계약이 종료되었고 자발적 고용 형태로 일반 해제 포함된 참여계약 아래에서 계속 근무합니다.

IPG Photonics a modifié et révisé son Plan de licenciement exécutif, remplaçant l’ancien plan et étendant généralement la couverture aux cadres au niveau Vice‑Président et au‑dessus (le PDG n’est pas participant). Le plan mis à jour clarifie les déclencheurs d’indemnité en cas de licenciement involontaire et ajuste le traitement des actions basées sur la performance et des primes en espèces selon qu’un licenciement survient après un Changement de Contrôle. Les changements clés comprennent une proratisation des actions liées à la performance pour les cadres de Tier One basée sur la performance réelle avec douze mois supplémentaires de service présumé, des multiples de primes en espèces forfaitaires de 200 % pour le Tier One et de 150 % / 100 % pour le Tier Two / Tier Three dans les scénarios de Changement de Contrôle, et une période de transition temporaire de deux ans qui preserve les avantages améliorés pour les cadres des Tier Two et Tier Three pour les licenciements qualifiés dans les 24 mois suivant un Changement de Contrôle. Quatre SVP seront couverts en tant que Tier One et avaient des accords d’emploi antérieurs résiliés, continuant comme des employés à durée indéterminée sous des accords de participation qui incluent des libérations générales.

IPG Photonics hat seinen Executive Severance Plan geändert und neu gefasst, den früheren Plan ersetzt und den Geltungsbereich im Allgemeinen auf Führungskräfte der Vice‑President‑Ebene und darüber hinaus ausgeweitet (der CEO ist kein Teilnehmer). Der aktualisierte Plan klärt Abfindungsgründe bei einer unfreiwilligen Kündigung und passt die Behandlung von leistungsabhängigen Aktien und Barboni je nachdem an, ob eine Kündigung nach einer Veränderung der Kontrolle erfolgt. Wichtige Änderungen umfassen die anteilige Zuteilung von Leistungsaktien für Tier‑One‑Führungskräfte basierend auf der tatsächlichen Leistung mit zusätzlichen zwölf Monaten als sogenannter Dienst, Pausenloser Einmalbonusbetrag von 200 % für Tier One und 150 %/100 % für Tier Two/Three in Change‑in‑Control‑Szenarien, und ein zeitlich begrenztes zwei‑Jahres‑Übergangsfenster, das verbesserte Leistungen für Tier Zwei und Tier Drei‑Führungskräfte bei qualifizierten Kündigungen innerhalb von 24 Monaten nach einer Change in Control bewahrt. Vier SVP werden als Tier One abgedeckt und hatten frühere Arbeitsverträge gekündigt, bleiben als „at‑will“ Angestellte unter Teilnahmevereinbarungen, die allgemeine Freigaben einschließen.

FALSE000111192800011119282025-09-302025-09-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

September 30, 2025
 Date of Report (Date of earliest event reported)

IPG PHOTONICS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
 (State or Other Jurisdiction
 of Incorporation)
 
 
001-33155
 (Commission File No.)
04-3444218
 (IRS Employer
 Identification No.)
377 Simarano Drive
Marlborough, Massachusetts 01752
(Address of Principal Executive Offices, including Zip Code)

(508) 373-1100
(Registrant’s telephone number)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.0001 per shareIPGPNasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company  ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Adoption of Amended and Restated Executive Severance Plan

On September 30, 2025, the Compensation Committee of the Board of Directors (the "Board") of the Company approved the adoption of the Amended and Restated Executive Severance Plan (as amended, the "Severance Plan") effective September 30, 2025, which amends and restates, in its entirety, the Company’s Executive Severance Plan established on January 1, 2014, as previously amended. The Severance Plan applies generally to executives of the Company who have a position equal to or higher than that of Vice President, including the Company’s Senior Vice Presidents and certain other executive officers. The CEO is not a participant in the Severance Plan. Generally, the Severance Plan provides for severance payments to certain executives and employees eligible to participate in the event of an “Involuntary Termination,” which includes a termination by the Company without “Cause” or a resignation by the employee for “Good Reason” (as such terms are defined in the Severance Plan), with different severance payments depending on the title of the employee and whether or not the termination occurs within twenty-four (24) months following a “Change in Control” (as such term is defined in the Severance Plan). Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Severance Plan.

The principal changes effected in the Severance Plan include:

•Performance-Based Equity Awards. For Tier One Executives who incur a qualifying termination not in connection with a Change in Control, performance-based equity awards are now prorated based on actual performance for the full performance period, with the prorated amount calculated by crediting the executive with an additional twelve months of deemed service for vesting purposes. For qualifying terminations of executives participating in the Plan following a Change in Control, performance-based equity awards are deemed earned at target.

•Change in Control Cash Severance. For Tier Two Executives and Tier Three Executives, severance cash payments following a Change in Control will now be made in lump-sum and will include a lump-sum target bonus multiple (150% of target for Tier Two Executives and 100% of target for Tier Three Executives). For Tier One Executives, the Severance Plan now also provides for a lump-sum bonus payment equal to 200% of such executive's target annual bonus. Pro-rated bonuses for the current cycle will be paid in lump-sum based on target rather than actual performance.

•Change in Control Period for Tier Two and Tier Three Executives. The Severance Plan introduces a transition rule under which, for a two-year period, Tier Two Executives and Tier Three Executives who experience a qualifying termination within twenty-four months following a Change in Control will be eligible for enhanced severance benefits. Following such two-year transition period, the period during which Tier Two Executives and Tier Three Executives may receive such enhanced benefits upon a qualifying termination following a Change in Control will be reduced to twelve months.

•Other Conforming and Technical Updates. The Severance Plan (i) includes provisions for the benefit of Senior Vice Presidents Angelo Lopresti, Timothy Mammen, Trevor Ness and Dr. Igor Samartsev that were previously in such executives' employment agreements, including modifications to the definition of "Good Reason" to account for a material reduction in the Executive's responsibilities with the Company and certain payments owed in the event the Company enforces certain non-compete provisions against such executive that prevent such executive from finding suitable employment in certain circumstances, (ii) gives Tier Three Executives comparable treatment to Tier One Executives and Tier Two Executives with respect to individual performance in respect of payouts for in-cycle bonuses in the event of death or disability, (iii) provides for equivalent health coverage benefits for executives outside the U.S. who are ineligible for COBRA, and (iv) makes other ministerial and technical updates.

The foregoing summary of the Severance Plan is subject to and qualified in its entirety by reference to the text of the Severance Plan, a copy of which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Termination of SVP Employment Agreements

Senior Vice Presidents Angelo Lopresti, Timothy Mammen, Trevor Ness and Dr. Igor Samartsev will be covered by the Severance Plan as Tier One Executives. Pursuant to termination agreements effective September 30, 2025 (the "Severance Plan Participation Agreements"), the employment agreements between each of Messrs. Lopresti, Mammen and Ness, and Dr. Samartsev, the form of which was previously filed by the Company on February 24, 2020 as Exhibit 10.7 to the Company’s Annual Report on Form 10-K, were terminated in their entirety. Each such executive's employment with the Company continue on an at-will basis. Each Severance Plan Participation Agreement includes a general release and discharge of all claims arising under the Employment Agreement, including a release of all rights to any termination payments and to all provisions that purport to survive termination. The foregoing description of the Severance Plan Participation Agreements does not purport to be


complete and is qualified in its entirety by reference to the form of Severance Plan Participation Agreements entered into by such executives, which is filed as Exhibit 10.2 hereto and is incorporated herein by reference.

Adoption of Amended and Restated Senior Executive Annual Incentive Plan

On September 30, 2025, the Compensation Committee of the Board approved an amended and restated IPG Photonics Corporation Senior Executive Annual Incentive Plan (the "AIP") which amends and restates, in its entirety, the IPG Photonics Corporation Senior Executive Annual Incentive Plan established on April 6, 2005, as amended. The changes effected by the amendment and restatement of the of the AIP were, among other things, to provide for coordination of benefits with the Severance Plan and any other severance arrangements. The revised AIP also includes an additional requirement, subject to any severance plans or agreements, that an employee be on the payroll of the Company on the date of payment of an award under the AIP, subject to exception in the case of death, disability or an involuntary termination.
The foregoing summary of the AIP is subject to and qualified in its entirety by reference to the text of the AIP, a copy of which is attached hereto as Exhibit 10.3 to this Current Report on Form 8-K and is incorporated herein by reference.

Adoption of Amendment to CEO Employment Agreement

On September 30, 2025, the Company and Dr. Mark M. Gitin entered into an amendment (the "Amendment") to the employment agreement by and between the Company and Dr. Gitin dated April 25, 2024 (the "Employment Agreement") to clarify that the percentage of Dr. Gitin's bonus based on financial performance measures for fiscal year 2025 and beyond will be determined by the annual incentive plans approved annually by the Compensation Committee.

The foregoing summary of the Amendment is subject to and qualified in its entirety by reference to the text of the Amendment, a copy of which is attached hereto as Exhibit 10.4 to this Current Report on Form 8-K and is incorporated herein by reference.

Non-Employee Director Compensation Plan

On September 30, 2025, the Non-Employee Director Compensation Plan of the Board was amended to increase the annual cash retainer for the Non-Executive Chair from $80,000 to $85,000. The change in compensation was based upon a survey of compensation practices of peers by the independent compensation consultant of the Compensation Committee of the Board.

The foregoing summary of revisions to the Non-Employee Director Compensation Plan is subject to and qualified in its entirety by reference to the text of revised Non-Employee Director Compensation Plan, a copy of which is attached hereto as Exhibit 10.5 to this Current Report on Form 8-K and is incorporated herein by reference.


Item 9.01. Financial Statements and Exhibits
(d) Exhibits

ExhibitExhibit Description
Exhibit 10.1
IPG Photonics Corporation Executive Severance Plan, amended and restated on September 30, 2025.
Exhibit 10.2
Form of Severance Plan Participation Agreements dated September 30, 2025 between the Registrant and each of Angelo Lopresti, Timothy Mammen, Trevor Ness and Dr. Igor Samartsev.
Exhibit 10.3
IPG Photonics Corporation Senior Executive Annual Incentive Plan.
Exhibit 10.4
Amendment to Employment Agreement between the Registrant and Dr. Mark Gitin, dated September 30, 2025.
Exhibit 10.5
IPG Photonics Corporation Non-Employee Director Compensation Plan.
Exhibit 104Inline XBRL for the cover page of this Current Report on Form 8-K.




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned thereunto duly authorized.
 
IPG PHOTONICS CORPORATION
October 3, 2025By:/s/ Angelo P. Lopresti
Angelo P. Lopresti
Senior Vice President, General Counsel & Secretary


Source: View Original Filing on SEC EDGAR

FAQ

What change to performance equity does IPGP's new Severance Plan make?

For Tier One executives, performance-based equity awards are now prorated based on actual performance for the full performance period and include 12 months of deemed service for vesting purposes.

How does the Severance Plan treat cash bonuses after a Change in Control?

Cash severance following a Change in Control is paid in lump-sum; Tier One receives 200% of target bonus, Tier Two 150%, and Tier Three 100%.

Which executives were moved into the Severance Plan and what happened to their prior agreements?

Senior Vice Presidents Angelo Lopresti, Timothy Mammen, Trevor Ness and Dr. Igor Samartsev are covered as Tier One; their prior employment agreements were terminated and replaced by participation agreements with a general release.

Is there a special time window for enhanced benefits after a Change in Control?

Yes. A two-year transition rule applies during which Tier Two and Tier Three executives remain eligible for enhanced severance for qualifying terminations within 24 months of a Change in Control; after that, the window reduces to 12 months.

Does the CEO participate in the new Severance Plan?

No. The document states the CEO is not a participant in the Severance Plan.
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IPGP Latest News

Aug 27, 2025
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Aug 5, 2025
IPG Photonics Strengthens Leadership Team with Key Appointments Across Operations, Technology, and Human Resources
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IPG Photonics to Announce Second Quarter 2025 Financial Results on August 5
Jun 23, 2025
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IPGP Latest SEC Filings

Oct 7, 2025
[144] IPG PHOTONICS CORP SEC Filing
Oct 6, 2025
[Form 4] IPG PHOTONICS CORP Insider Trading Activity
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[144] IPG PHOTONICS CORP SEC Filing
Sep 16, 2025
[Form 4] IPG PHOTONICS CORP Insider Trading Activity
Sep 24, 2025
[Form 4] IPG PHOTONICS CORP Insider Trading Activity

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