IPG Photonics Corp. Files Amendment to Annual Report

TL;DR

<b>IPG Photonics Corp. has filed an amendment to its 2023 annual report on Form 10-K/A.</b>

AI Summary

IPG PHOTONICS CORP (IPGP) filed a Amended Annual Report (10-K/A) with the SEC on April 29, 2024. IPG Photonics Corp. filed an amendment (10-K/A) to its annual report for the fiscal year ended December 31, 2023. The company is registered in Delaware and its principal executive offices are located at 377 Simarano Drive, Marlborough, Massachusetts. IPG Photonics Corp. is listed on The Nasdaq Stock Market LLC under the trading symbol IPGP. The filing indicates that the company is a large accelerated filer. The amendment was filed on April 29, 2024.

Why It Matters

For investors and stakeholders tracking IPG PHOTONICS CORP, this filing contains several important signals. This amendment provides updated or corrected information for the fiscal year ending December 31, 2023, which is crucial for investors to have the most accurate financial and operational data. As a large accelerated filer, the company's filings are closely watched, and any amendments signal a need for stakeholders to review the latest disclosures for potential impacts on valuation or strategy.

Risk Assessment

Risk Level: low — IPG PHOTONICS CORP shows low risk based on this filing. The filing is an amendment to a previous report, suggesting it's for clarification or correction rather than new material negative events.

Analyst Insight

Review the specific changes made in the 10-K/A filing to understand any updated disclosures or corrections provided by IPG Photonics Corp.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-04-29 — Filing Date (Date of submission)
• 001-33155 — Commission File Number (SEC registration)
• 04-3444218 — IRS Employer Identification No. (Tax identification)

Key Players & Entities

• IPG PHOTONICS CORP (company) — Filer name
• 0001111928-24-000059 (other) — Accession Number
• 20231231 (date) — Fiscal year end
• 20240429 (date) — Filing date
• Delaware (jurisdiction) — State of incorporation
• 377 Simarano Drive, Marlborough, Massachusetts 01752 (address) — Principal executive offices
• IPGP (ticker) — Trading Symbol
• The Nasdaq Stock Market LLC (company) — Exchange

FAQ

Industry Context

IPG Photonics Corp. operates in the semiconductor and related devices industry, specifically focusing on high-power fiber lasers and amplifiers.

Regulatory Implications

The company is subject to SEC regulations for public reporting, including the requirement to file annual reports (10-K) and amendments (10-K/A).

What Investors Should Do

1. Access and review the full 10-K/A filing for IPG Photonics Corp. to identify specific amendments.
2. Compare the amended filing with the original 10-K to understand the nature and impact of any changes.
3. Monitor future filings for any further updates or clarifications from IPG Photonics Corp.

Year-Over-Year Comparison

This filing is an amendment (10-K/A) to the previously filed annual report for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.0001 — ich Registered Common Stock, Par Value $0.0001 per share IPGP The Nasdaq Stock Market

Filing Documents

• ipgp-20231231.htm (10-K/A) — 579KB
• ex31110-ka.htm (EX-31.1) — 5KB
• ex31210-ka.htm (EX-31.2) — 5KB
• ipgp-20231231_g1.jpg (GRAPHIC) — 52KB
• ipgp-20231231_g10.jpg (GRAPHIC) — 142KB
• ipgp-20231231_g11.jpg (GRAPHIC) — 682KB
• ipgp-20231231_g2.jpg (GRAPHIC) — 2KB
• ipgp-20231231_g3.jpg (GRAPHIC) — 32KB
• ipgp-20231231_g4.jpg (GRAPHIC) — 36KB
• ipgp-20231231_g5.jpg (GRAPHIC) — 2KB
• ipgp-20231231_g6.jpg (GRAPHIC) — 38KB
• ipgp-20231231_g7.jpg (GRAPHIC) — 42KB
• ipgp-20231231_g8.jpg (GRAPHIC) — 42KB
• ipgp-20231231_g9.jpg (GRAPHIC) — 45KB
• 0001111928-24-000059.txt (&nbsp;) — 3440KB
• ipgp-20231231.xsd (EX-101.SCH) — 2KB
• ipgp-20231231_lab.xml (EX-101.LAB) — 35KB
• ipgp-20231231_pre.xml (EX-101.PRE) — 21KB
• ipgp-20231231_htm.xml (XML) — 5KB

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 3

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 3

EXECUTIVE COMPENSATION 6

ITEM 11. EXECUTIVE COMPENSATION 6

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 24

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 24

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 26

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 26

PRINCIPAL ACCOUNTING FEES AND SERVICES 27

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 27 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 27

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 27 SIGNATURES 29 2 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE Our Board of Directors (the "Board") is comprised of ten (10) members as of April 22, 2024: Name Age Position Gregory Beecher 66 Director Michael Child 69 Director Jeanmarie Desmond 57 Director Gregory Dougherty 64 Director Kolleen Kennedy 64 Director Eric Meurice 67 Director Natalia Pavlova 45 Director John Peeler 69 Director, Non-Executive Chair Eugene Scherbakov, Ph.D. 76 Chief Executive Officer and Director Agnes Tang 50 Director The following is biographical information of each of the directors and a summary of the respective directors' skills and qualifications to serve on the Company's Board of Directors. GREG BEECHER. Mr. Beecher joined IPG's Board in January 2023. Mr. Beecher previously served as a Vice President and Chief Financial Officer of Teradyne, Inc. ("Teradyne"), a supplier of automation equipment, from March 2001 to April 2019. Prior to Teradyne, Mr. Beecher served as an Audit Partner at PricewaterhouseCoopers LLP, a provider of business advisory services, from September 1993 to March 2001. He served as a director of MKS Instruments, Inc., a process control instrumentation company, from 2006 to 2020. He also served as a director of Hittite Microwave Corporation, a designer and manufacturer of high performance integrated circuits, modules, subsystems and instrumentation, from 2013 to 2014, and of MatrixOne, a product lifecycle management software provider, from 2003 to 2006, prior to their acquisitions by larger technology companies. Mr. Beecher has served as a trustee on the Isabella Stewart Gardner Museum, an art museum, since 2020. He was previously a licensed Certified Public Accountant in Massachusetts and Vermont from July 1985 to June 2013 and from December 1993 to July 1999, respectively. Mr. Beecher holds a B.S. from the University of Hartford and an M.S. in accounting from Northeastern University. Mr. Beecher's extensive financial background, including his

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION Compensation Discussion and Analysis Executive Overview This Compensation Discussion and Analysis provides a review of our executive compensation philosophy and program, and Compensation Committee decisions for fiscal 2023. The discussion in this section focuses on the compensation of the Company's named executive officers ("NEOs") for fiscal 2023, who were: Eugene Scherbakov, Ph.D. Chief Executive Officer Timothy P.V. Mammen Senior Vice President and Chief Financial Officer Angelo P. Lopresti Senior Vice President, General Counsel and Secretary Trevor D. Ness Senior Vice President, Sales and Strategic Business Development Alexander Ovtchinnikov, Ph.D. Senior Vice President, Chief Technology Officer 6 Stockholder-Minded Compensation Practices Practices We Employ Align our NEO Pay with Performance : Strong links of compensation to Company performance and stockholder returns fo

View Full Filing

View this 10-K/A filing on SEC EDGAR