Valentin Gapontsev Trust I Amends IPG Photonics Stake

TL;DR

**Major insider trust just updated its stake in IPG Photonics.**

AI Summary

The Valentin Gapontsev Trust I, a significant shareholder in IPG Photonics Corporation, filed an Amendment No. 5 to its Schedule 13D on January 4, 2024, indicating a change in beneficial ownership as of December 31, 2023. This filing updates previous disclosures regarding the Trust's holdings in IPG Photonics' Common Stock, par value $0.0001 per share. This matters to investors because it provides transparency into the holdings of a major insider, which can signal confidence or lack thereof in the company's future.

Why It Matters

This filing updates the public record on a significant insider's ownership, offering transparency into a key shareholder's position in IPG Photonics.

Risk Assessment

Risk Level: low — This filing is a routine update of beneficial ownership by a trust and does not inherently signal high risk.

Analyst Insight

Investors should note this routine update from a significant insider. While not immediately actionable, it's a data point for tracking major shareholder activity. Further amendments would be needed to understand any changes in the number of shares beneficially owned.

Key Players & Entities

• Valentin Gapontsev Trust I (company) — the reporting person and beneficial owner of IPG Photonics shares
• IPG Photonics Corporation (company) — the issuer of the securities
• Angelo P. Lopresti (person) — person authorized to receive notices for the Trust
• IQ EQ Trust Company, U.S., LLC (company) — company associated with Angelo P. Lopresti for notices
• $0.0001 (dollar_amount) — par value per share of IPG Photonics Common Stock

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securitie
• $99.48 — r's common stock at an average price of $99.48 per share, in brokerage transactions pu
• $95.34 — r's common stock at an average price of $95.34 per share, in brokerage transactions pu
• $91.71 — r's common stock at an average price of $91.71 per share, in brokerage transactions pu
• $235,178,640.00 — ident EXHIBIT 10.1 PROMISSORY NOTE $235,178,640.00 Oxford, Massachusetts December 17, 2019

Filing Documents

• vgtr1sc13dadecember2023.htm (SC 13D/A) — 136KB
• 0001508155-24-000004.txt ( ) — 137KB

IDENTITY AND BACKGROUND

ITEM 2. IDENTITY AND BACKGROUND

of the Schedule 13D is amended and restated

Item 2 of the Schedule 13D is amended and restated The Schedule 13D is being filed jointly by the Reporting Persons. The agreement among the Reporting Persons relating to the joint filing of the Schedule 13D is attached hereto as Exhibit 99.1. The name, business address, principal business or occupation and citizenship of each of the Reporting Persons is as follows Name and Business Address Principal Business or Occupation Citizenship or place of organization The Valentin Gapontsev Trust I co IQ EQ Trust Company, U.S., LLC 3 Executive Park Drive, Suite 302 Bedford, NH 03110 A trust governed under the laws of New Hampshire Angelo P. Lopresti co IQ EQ Trust Company, U.S., LLC 3 Executive Park Drive, Suite 302 Bedford, NH 03110 Executive Officer of IPG Photonics Corporation United States Eugene Scherbakov co IQ EQ Trust Company, U.S., LLC 3 Executive Park Drive, Suite 302 Bedford, NH 03110 Executive Officer of IPG Photonics Corporation Russia IQ EQ Trust Company, U.S., LLC 3 Executive Park Drive, Suite 302 Bedford, NH 03110 Providing trust fiduciary services A limited liability company organized under the laws of South Dakota

PURPOSE OF THE TRANSACTION

ITEM 4. PURPOSE OF THE TRANSACTION

of the Schedule 13D is supplemented as follows

Item 4 of the Schedule 13D is supplemented as follows Dr. Alexander Ovtchinnikov and Dr. Nikolai Platonov no longer serve as trustees of the Valentin Gapontsev Trust I. IQ EQ Trust Company, U.S., LLC became a trustee of the Valentin Gapontsev Trust I as of 12312023. Dr. Ovtchinnikov and Dr. Eugene Scherbakov are no longer trustees of the Gapontsev Trust.

INTEREST IN SECURITIES OF THE ISSUER

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a)-(b) Incorporated by reference to Items (7) - (11) and (13) of the cover page relating to each Reporting Person. The individual Reporting Persons named in Item 2, above, by virtue of being trustees of any of the Gapontsev Trust, the Valentin Gapontsev Trust I, the Valentin Gapontsev Trust II andor the Valentin Gapontsev Trust III may be deemed to have the power to direct the voting and disposition of the shares of the Issuer's common stock owned by the respective Trust. (c) The Reporting Persons effected the following transactions in shares of the Issuer's Common Stock over the last 60 days On December 8, 2023, Reporting Person Valentin Gapontsev Trust I sold 8,250 shares of the Issuer's common stock at an average price of $99.48 per share, in brokerage transactions pursuant to a 10b5-1 trading plan entered into on December 15, 2022. On November 24, 2023, Reporting Person Valentin Gapontsev Trust I sold 8,250 shares of the Issuer's common stock at an average price of $95.34 per share, in brokerage transactions pursuant to a 10b5-1 trading plan entered into on December 15, 2022. On November 8, 2023, Reporting Person Valentin Gapontsev Trust I sold 8,250 shares of the Issuer's common stock at an average price of $91.71 per share, in brokerage transactions pursuant to a 10b5-1 trading plan entered into on December 15, 2022. (d) Not applicable. (e) Not applicable.

CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER

of the Schedule 13D is supplemented as follows

Item 6 of the Schedule 13D is supplemented as follows Except for the arrangements described in Item 4 above and the documents attached as exhibits pursuant to Item 7 below, each of which is incorporated by reference herein and made a part hereof, to the best knowledge of the Reporting Persons, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Persons, and any other person, with respect to any securities of the Issuer, including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option agreements, puts or calls, guarantees of profits, divisions of profits or loss, or the giving or withholding of proxies.

MATERIAL TO BE FILED AS EXHIBITS

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS 10.1 Promissory Note, dated December 17, 2019, by The Valentin Gapontsev Trust I 99.1 Joint Filing Agreement, dated December 31, 2023, by and among The Valentin Gapontsev Trust I, Angelo Lopresti, Eugene Scherbakov and IQ EQ Trust Company, U.S., LLC

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated January 2, 2024 THE VALENTIN GAPONTSEV TRUST I By s Angelo P. Lopresti Angelo P. Lopresti Trustee By s Eugene Scherbakov Eugene Scherbakov Trustee IQ EQ Trust Company, U.S., LLC, as trustee By s Christopher C. Martin Christopher C. Marin President ANGELO P. LOPRESTI s Angelo P. Lopresti EUGENE SCHERBAKOV s Eugene Scherbakov IQ EQ TRUST COMPANY, U.S., LLC By s Christopher C. Martin Christopher C. Martin President EXHIBIT 10.1 PROMISSORY NOTE $235,178,640.00 Oxford, Massachusetts December 17, 2019 FOR VALUE RECEIVED, Angelo P. Lopresti, Nikolai Platonov, Alex Ovtchinnikov and Eugene Scherbakov, solely as Trustees of THE VALENTIN GAPONTSEV TRUST I, a trust created by trust indenture dated December 17, 2010, and not individually or in any other capacity (the Maker) hereby promise to pay to the order of Valentin P. Gapontsev, of Worcester, Massachusetts (the "Holder") on the 9th anniversary of this Note the principal sum of Two Hundred Thirty-Five Million One Hundred Seventy-Eight Thousand Six Hundred Forty and 00100 Dollars ($235,178,640.00) (or so much thereof as shall not have been prepaid) and to pay interest on the entire unpaid balance hereof on each anniversary of this Note at the rate of one and sixty-nine one hundredths percent (1.69%) per annum. Said principal and interest payments shall be paid, in cash, by wire transfer or by check, at such address or to such bank account as Holder shall designate in writing or in kind by shares of IPG Photonics Corporation. This Note may be prepaid at any time and from time to time, in whole or in part, at the option of the undersigned, with interest accrued on the amount to be prepaid, without premium or penalty. Any amount of principal or interest not paid when due shall bear int

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