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<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%">The Compensation Committee has adopted policies and practices designed to ensure that equity awards are not granted at a time when the Company is in possession of material nonpublic information and that the timing of equity awards is not coordinated with the release of such information for the purpose of affecting the value of executive compensation. For example, under our Policy on Granting Equity Awards, equity awards are generally effective on the third business day following the public release of earnings.</span></div>
<div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%">The Compensation Committee has adopted policies and practices designed to ensure that equity awards are not granted at a time when the Company is in possession of material nonpublic information and that the timing of equity awards is not coordinated with the release of such information for the purpose of affecting the value of executive compensation. For example, under our Policy on Granting Equity Awards, equity awards are generally effective on the third business day following the public release of earnings.</span></div>
The Compensation Committee has adopted policies and practices designed to ensure that equity awards are not granted at a time when the Company is in possession of material nonpublic information and that the timing of equity awards is not coordinated with the release of such information for the purpose of affecting the value of executive compensation.
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<div style="margin-bottom:8pt;margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:522.00pt"><tr><td style="width:1.0pt"></td><td style="width:24.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:40.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:44.50pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:43.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:1.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:40.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:46.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:39.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:57.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:57.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:21.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:25.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:30.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:25.00pt"></td><td style="width:1.0pt"></td></tr><tr style="height:39pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Year</span></div></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Summary Compensation Table</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Total for PEOs ($)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Compensation Actually Paid for</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">PEOs ($)</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Average</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Summary</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Compensation</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Table Total for</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Average</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Compensation</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Actually Paid</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">to Non-PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Value of</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Initial Fixed</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">$100</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Investment</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Based On:</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Income</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">($M)</span></div></td><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Sales</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">($M)</span></div></td></tr><tr style="height:32pt"><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mark Gitin</span></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Eugene</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Scherbakov</span></div></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Valentin</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Gapontsev</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Mark Gitin</span></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Eugene</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Scherbakov</span></div></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Valentin Gapontsev</span></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TSR <br/>($)</span></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Peer</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Group</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">TSR</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:100%">($)</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(a)</span></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(b)</span></div></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(b)</span></div></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(b)</span></div></td><td colspan="3" style="border-top:1pt solid #0c3471;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(c)</span></div></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(c)</span></div></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(c)</span></div></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(d)</span></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(e)</span></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(f)</span></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(g)</span></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(h)</span></td><td colspan="3" style="border-top:1pt solid #00497f;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(i)</span></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #808080;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</span></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,071,490 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #808080;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,885,849 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,362,128 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,450,648 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">205 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,004 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #808080;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</span></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,700,825 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,099,458 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #808080;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,590,319 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">408,369 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,370,116 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">704,222 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">142 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(182)</span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">977 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #808080;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2023</span></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,725,552 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #808080;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,897,587 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,999,742 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,783,708 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">122 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,287 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #808080;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2022</span></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,635,520 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-top:0.5pt solid #808080;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,176,438 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,093,139 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">178,305 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">42 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,430 </span></td><td style="border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2021</span></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,284,851 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,254,034 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:0 1pt"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">— </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,633,757 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,254,034 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,641,365 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">414,607 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">77 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">129 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">278 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,461 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>
9071490
9885849
2362128
2450648
32
205
31000000
1004000000
6700825
6099458
4590319
408369
2370116
704222
32
142
-182000000
977000000
5725552
4897587
1999742
1783708
49
122
219000000
1287000000
6635520
1176438
2093139
178305
42
101
111000000
1430000000
7284851
3254034
1633757
3254034
2641365
414607
77
129
278000000
1461000000
Reflects compensation amounts reported in the “Total” column of the Summary Compensation Table for Dr. Mark Gitin, Dr. Eugene Scherbakov and Dr. Valentin Gapontsev, for the respective years shown. Dr. Gapontsev was CEO until May 4, 2021, when Dr. Scherbakov succeeded him. Dr. Scherbakov was CEO from May 4, 2021 to June 5, 2024, when Dr. Gitin succeeded him.The dollar amounts reported under Average Summary Compensation Table Total for non-PEO NEOs represent the average of the amounts reported for the Company’s NEOs as a group (excluding any individual serving as our CEO for such year) in the “Total” column of the Summary Compensation Table in each applicable year. The names of the NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2025, Paulus Bucher, Angelo Lopresti, Timothy Mammen and Trevor Ness; (ii) for 2024, Angelo Lopresti, Timothy Mammen, Trevor Ness, Alexander Ovtchinnikov and Igor Samartsev; (ii) for 2023, Angelo Lopresti, Timothy Mammen, Trevor Ness and Alexander Ovtchinnikov; and (ii) for 2022 and 2021, Angelo Lopresti, Timothy Mammen, Alexander Ovtchinnikov and Felix Stukalin.
Dr. Mark Gitin
Dr. Mark Gitin
Dr. Eugene Scherbakov
Dr. Eugene Scherbakov
Dr. Eugene Scherbakov
Dr. Eugene Scherbakov
Dr. Valentin Gapontsev
<span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:125%">The dollar amounts reported for Drs. Gitin, Scherbakov and Gapontsev under Compensation Actually Paid represent the amount of “compensation actually paid” to such executive, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual amount of compensation earned by or paid to Dr. Gitin or Dr. Scherbakov during the applicable year. Dr. Gapontsev’s “compensation actually paid” is the same as the total from the Summary Compensation Table because Dr. Gapontsev did not receive long-term incentive compensation in light of his significant level of common stock ownership, which the independent directors believed provided him with sufficient incentives to act in the best long-term interest of our stockholders during the time he was an executive of the Company. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to Dr. Gitin's total compensation for 2025 to determine the compensation actually paid:</span><div style="margin-bottom:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:522.00pt"><tr><td style="width:1.0pt"></td><td style="width:462.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:55.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2025</span></div></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Dr. Mark Gitin</span></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Compensation as reported in Summary Compensation Table ($)</span></div></td><td colspan="2" style="border-top:1pt solid #00497f;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,071,490 </span></td><td style="border-top:1pt solid #00497f;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less: Fair value of equity awards granted during fiscal year ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,999,990)</span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Plus: Fair value of equity awards granted in current year—value at end of year-end ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,889,174 </span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:23pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(41,075)</span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:23pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(33,750)</span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:14pt"><td colspan="3" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Compensation Actually Paid ($)</span></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,885,849 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>Equity Valuations: PSU grant date fair values are calculated using the stock price as of date of grant assuming target performance. Adjustments have been made using the stock price and performance accrual modifier as of year-end and as of the date of vesting. RSU grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of year-end and as of each date of vesting. Stock option fair values are calculated based on the Black-Scholes option pricing model. Adjustments have been made to generate fair values as of each measurement date using the stock price as of the measurement date and updated assumptions (i.e., term, volatility, dividend yield, risk free rates) as of the measurement date.
9071490
-6999990
7889174
-41075
-33750
9885849
The dollar amounts reported under Average Compensation Actually Paid for non-PEO NEOs represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the CEO), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the adjustments in the table below were made to the NEOs’ average total compensation for each year to determine the compensation actually paid: <div style="margin-bottom:8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:522.00pt"><tr><td style="width:1.0pt"></td><td style="width:396.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:121.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"><div style="text-align:center"><span><br/></span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-PEO NEOs</span></div></td></tr><tr style="height:20pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2025</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Average</span></div></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:1pt solid #134a84;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Compensation as reported in Summary Compensation Table ($)</span></div></td><td colspan="2" style="border-top:1pt solid #00497f;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,362,128 </span></td><td style="border-top:1pt solid #00497f;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less: Fair value of equity awards granted during fiscal year ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,485,640)</span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Plus: Fair value of equity awards granted in current year—value at end of year-end ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,646,693 </span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:23pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Change in fair value from end of prior fiscal year to vesting date for awards made in prior fiscal years that vested during current fiscal year ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(61,756)</span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:23pt"><td colspan="3" style="border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Change in fair value from end of prior fiscal year to end of current fiscal year for awards made in prior fiscal years that were unvested at end of current fiscal year ($)</span></div></td><td colspan="2" style="border-top:0.5pt solid #808285;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10,777)</span></td><td style="border-top:0.5pt solid #808285;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr style="height:14pt"><td colspan="3" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808285;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:2.55pt;padding-right:4.85pt"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:700;line-height:119%">Compensation Actually Paid ($)</span></div></td><td colspan="2" style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,450,648 </span></td><td style="border-bottom:1pt solid #134a84;border-top:0.5pt solid #808080;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div>Equity Valuations for purposes of this table were calculated in the same manner as described in columns (c) above.
2362128
-1485640
1646693
-61756
-10777
2450648
For the relevant fiscal year, represents the Company's cumulative total stockholder return (TSR) for the measurement periods beginning at the start of fiscal year 2021 and ending on December 31 of each of 2021, 2022, 2023, 2024 and 2025, respectively, assuming an initial investment of $100. Reflects “net income” as reported in the Company’s Consolidated Income Statements included in the Company’s Annual Reports on Form 10-K for each of the years ended December 31, 2025, 2024, 2023, 2022 and 2021. As previously disclosed, 2024 figures include a loss on divestiture related to our sale of our Russian subsidiary, as well as impairment of long-lived assets in Belarus, and 2022 figures include significant inventory related charges, impairment of long-lived assets in Russia and restructuring charges in Russia.
For the relevant fiscal year, represents the cumulative TSR of the S&P Composite 1500 - Electronic Equipment, Instruments & Components Index, a published industry index ("Peer Group TSR") for the measurement periods beginning at the start of fiscal year 2021 and ending on December 31 of each of 2025, 2024, 2023, 2022 and 2021, respectively, assuming an initial investment of $100.
Company-selected Measure is net sales as reported in the Company’s Consolidated Income Statements included in the Company’s Annual Reports on Form 10-K for each of the years ended December 31, 2025, 2024, 2023, 2022, and 2021.
net sales
<div style="margin-bottom:6pt;margin-top:6pt;padding-left:27pt;text-indent:-9pt"><span style="color:#134a84;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%">•</span><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%;padding-left:5.62pt">Net Sales (annual incentive and long-term incentive (PSUs))</span></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:27pt;text-indent:-9pt"><span style="color:#134a84;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%">•</span><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%;padding-left:5.62pt">Adjusted EBIT (annual incentive)</span></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:27pt;text-indent:-9pt"><span style="color:#134a84;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%">•</span><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%;padding-left:5.62pt">Adjusted EBITDA (long-term incentive (PSUs))</span></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:27pt;text-indent:-9pt"><span style="color:#134a84;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%">•</span><span style="color:#000000;font-family:'Open Sans',sans-serif;font-size:9pt;font-weight:400;line-height:130%;padding-left:5.62pt">Working Capital (long-term incentive (PSUs))</span></div>
Net Sales (annual incentive and long-term incentive (PSUs))
Adjusted EBIT (annual incentive)
Adjusted EBITDA (long-term incentive (PSUs))
Working Capital (long-term incentive (PSUs))
<div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><img alt="7754" id="i-214" src="ipgp-20260330_g92.jpg" style="height:403px;margin-bottom:5pt;vertical-align:text-bottom;width:580px"/></div>
<div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><img alt="7754" id="i-214" src="ipgp-20260330_g92.jpg" style="height:403px;margin-bottom:5pt;vertical-align:text-bottom;width:580px"/></div>
<div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><img alt="7756" id="i-215" src="ipgp-20260330_g93.jpg" style="height:384px;margin-bottom:5pt;vertical-align:text-bottom;width:580px"/></div>
<div style="margin-top:6pt;text-align:center"><img alt="7758" id="i-216" src="ipgp-20260330_g94.jpg" style="height:384px;margin-bottom:5pt;vertical-align:text-bottom;width:580px"/></div>