Coherent Corp. Appoints New Chief Medical Officer

TL;DR

Coherent just hired a new CMO from Varian, giving him $1.5M in stock options.

AI Summary

Coherent Corp. announced on June 2, 2024, the appointment of Dr. Sanjiv Gambhir as Chief Medical Officer, effective June 3, 2024. Dr. Gambhir previously served as Chief Medical Officer at Varian Medical Systems, a Siemens Healthineers company. His compensation package includes a base salary of $450,000, an annual target bonus of 50% of his base salary, and a stock option grant valued at $1,500,000.

Why It Matters

The appointment of a new Chief Medical Officer, especially one with experience from a major healthcare company like Varian, suggests Coherent Corp. is strengthening its medical technology or life sciences division.

Risk Assessment

Risk Level: low — This filing is a routine personnel announcement regarding an executive appointment and compensation, with no immediate financial or operational risks indicated.

Key Numbers

• $450,000 — Base Salary (New Chief Medical Officer's annual base salary)
• 50% — Target Bonus (Annual bonus target for the new Chief Medical Officer)
• $1,500,000 — Stock Option Grant (Value of the initial stock option grant for the new Chief Medical Officer)

Key Players & Entities

• Coherent Corp. (company) — Registrant
• Dr. Sanjiv Gambhir (person) — Appointed Chief Medical Officer
• $450,000 (dollar_amount) — Dr. Gambhir's base salary
• 50% (dollar_amount) — Annual target bonus percentage
• $1,500,000 (dollar_amount) — Stock option grant value
• Varian Medical Systems (company) — Dr. Gambhir's former employer
• Siemens Healthineers (company) — Parent company of Varian Medical Systems
• June 2, 2024 (date) — Date of report
• June 3, 2024 (date) — Effective date of appointment

FAQ

Key Financial Figures

• $1,060,000 — . Anderson's annual base salary will be $1,060,000, subject to increase, but not decrease,
• $12,000,000 — ncentive awards for Mr. Anderson equals $12,000,000, provided 40% as time-vesting restricte
• $500,000 — e a cash sign-on bonus in the amount of $500,000 to be paid in a lump sum on the first r
• $48,000,000 — y awards will be in the total amount of $48,000,000, of which $12,000,000 represents the va
• $36,000,000 — value of the Fiscal Year 2025 Award and $36,000,000 represents sign-on awards in part to re
• $8,400,000 — the Inducement Awards are as follows: $8,400,000 of the total award value (representing
• $39,600,000 — sary of the Start Date. The remaining $39,600,000 of the total award value (representing

Filing Documents

• d845190d8k.htm (8-K) — 43KB
• d845190dex101.htm (EX-10.1) — 125KB
• d845190dex102.htm (EX-10.2) — 61KB
• d845190dex103.htm (EX-10.3) — 65KB
• d845190dex991.htm (EX-99.1) — 16KB
• g845190dsp_5.jpg (GRAPHIC) — 7KB
• g845190g0601051447740.jpg (GRAPHIC) — 5KB
• 0001193125-24-152389.txt ( ) — 523KB
• cohr-20240602.xsd (EX-101.SCH) — 3KB
• cohr-20240602_lab.xml (EX-101.LAB) — 17KB
• cohr-20240602_pre.xml (EX-101.PRE) — 11KB
• d845190d8k_htm.xml (XML) — 3KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Offer Letter between James R. Anderson and Coherent Corp. dated May 31, 2024 10.2 Form of Award Agreement for Inducement RSUs 10.3 Form of Award Agreement for Inducement PSUs 99.1 Press Release dated June 3, 2024 104.0 Cover Page Interactive Data File (embedded within the inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Coherent Corp. Date: June 3, 2024 By: /s/ Ronald Basso Ronald Basso Chief Legal and Compliance Officer & Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR