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    Mark M. Gitin

    Chief Executive Officer at IPG Photonics Corp
    Board
    Since June 5, 2024
    Age
    58 years
    Education
    Holds a B.S. in Electrical Engineering from the University of California, Davis, and an M.Eng. and Ph.D. in Electrical Engineering from Cornell University.
    Tenure
    Joined IPGP on 06-05-2024 and has served as the Chief Executive Officer since that date.

    Also at IPG Photonics Corp

    APL
    Angelo P. Lopresti
    General Counsel, Secretary, and Senior Vice President
    IS
    Igor Samartsev
    Senior Vice President, Chief Scientist
    TPM
    Timothy P.V. Mammen
    Senior Vice President and Chief Financial Officer

    About

    Mark M. Gitin, Ph.D. is a seasoned executive currently serving as the Chief Executive Officer of IPG Photonics Corporation. He is 58 years old as of February 20, 2025.

    He holds a B.S. in Electrical Engineering from the University of California, Davis, and both an M.Eng. and Ph.D. in Electrical Engineering from Cornell University. His academic credentials have contributed to his deep technical expertise in the lasers and optics sector.

    With over 30 years of experience in the industry, his extensive career includes high-level positions at MKS Instruments, Inc. and Coherent, Inc., where he held several management roles and was instrumental in leading photonics divisions. Since joining IPGP on 06-05-2024 as CEO, he has been pivotal in guiding the company’s strategic direction.

    $IPGP Performance Under Mark M. Gitin

    Past Roles

    OrganizationRoleDate RangeDetails
    MKS Instruments, Inc. Executive Vice President and General Manager, Photonics Solutions Division 2023
    MKS Instruments, Inc. Senior Vice President and General Manager, Photonics Solutions Division 2019–2023
    MKS Instruments, Inc. Vice President and General Manager, Photonics Business Unit 2017–2019 Also assumed responsibility for the Instruments and Motion Business Unit in 2018
    Coherent, Inc. Multiple roles: Vice President of Strategic Marketing, Vice President of Business Development, and Vice President and General Manager of the Diodes, Fibers, and Systems Business Unit March 1995 – September 2017 Held various management roles in the lasers and optics sector

    Fixed Compensation

    Data from  FY 2024
    Component NameAmount ($USD)Payment ScheduleAdditional Details
    Base Salary411,346 Prorated for CEO service in 2024 (annualized at 775,000)Start date: June 5, 2024
    New Hire Bonus775,000 Paid in 2024 contingent on continued employmentEqual to 100% of annual base salary; conditions apply
    Service-Based RSUs2,500,000 Vest in three equal annual installments starting post-commencementRepresents 50% of the 5,000,000 total RSU grant value; non-performance based
    Relocation Stipend500,000 One-time payment during relocationProvided to facilitate move from California to Massachusetts
    Temporary Housing14,720 Provided for up to six months during relocationPart of relocation package

    Performance Compensation

    Data from  FY 2024

    Operating Margin PSUs

    MetricThreshold (units)Target (units)Maximum (units)Vesting ScheduleEvaluation PeriodGrant Date Fair Value ($USD)Additional Details
    Operating Margin PSUs7,197 28,790 57,580 Vest on June 5, 2027 (one installment)3-year period starting Jan 1, 2024 2,499,836 Valuation pursuant to ASC 718; payout contingent on achieving pre-determined operating margin metrics

    Organic Revenue Growth PSUs

    MetricThreshold (payout %)Target (units)Maximum (payout)Vesting ScheduleEvaluation PeriodGrant Date Fair Value ($USD)Additional Details
    Organic Revenue Growth PSUs25% of target 14,395 200% of target Cliff vest in March 2027Jan 1, 2024 – Dec 31, 2026 2,499,836 Based on organic revenue growth; targets are confidential and set at challenging levels; includes dividend equivalents