1 unchanged sentence
Our common stock is quoted on the Nasdaq Global Select Market under the symbol "IPGP".
−Removed: As of February 18, 2022, there were 52,939,383 shares of our common stock outstanding held by approximately 30 holders of record, which does not include beneficial owners of common stock whose shares are held in the names of various securities brokers, dealers and registered clearing agencies.
+Added: As of February 24, 2023, there were 47,627,143 shares of our common stock outstanding held by 30 holders of record, which does not include beneficial owners of common stock whose shares are held in the names of various securities brokers, dealers and registered clearing agencies.
Stock Price Performance Graph
1 unchanged sentence
The graph does not constitute "soliciting material" and should not be deemed "filed" or incorporated by reference into any other filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent that we specifically incorporate this information by reference into such filing.
−Removed: The following graph presents the cumulative shareholder returns for our Common Stock compared with the S&P 500 Index and the S&P 1500 Composite 1500 / Electronic Equipment Instruments & Components Index.
−Removed: We include the S&P 500 Index because we became a member of this index in 2018.
+Added: The following graph presents the cumulative shareholder returns for our Common Stock compared with the S&P 500 Index, the Russell 3000 Index and the S&P 1500 Composite 1500 / Electronic Equipment Instruments & Components Index.
+Added: We include the Russell 3000 Index because we ceased being a member of the S&P 500 Index in June 2022.
+Added: We include the S&P 500 Index because it was the index used in the graph in the 10-K for the immediately preceding fiscal year.
We include the S&P Composite 1500 / Electronic Equipment Instruments & Components Index because outstanding performance stock units awarded to executive officers use this index when comparing total shareholder return and due to our being an index member, industry similarities, our internal use to monitor executive compensation, and the fact that it contains several direct competitors.
3 unchanged sentences
S&P 500 Index $ 100.00 $ 95.62 $ 125.72 $ 148.85 $ 191.58 $ 156.88
+Added: Russell 3000 Index $ 100.00 $ 93.01 $ 119.55 $ 142.06 $ 176.16 $ 140.08
S&P 1500 Composite / Electronic Equipment Instruments & Components Index $ 100.00 $ 87.48 $ 116.05 $ 143.73 $ 185.67 $ 145.24
−Removed: The above graph represents and compares the value, through December 31, 2021, of a hypothetical investment of $100 made at the closing price on December 31, 2016 in each of (i) our common stock, (ii) S&P 500 Index, and (iii) the S&P 1500 Composite / Electronic Equipment Instruments & Components Index, in each case assuming the reinvestment of dividends.
+Added: The above graph represents and compares the value, through December 31, 2022, of a hypothetical investment of $100 made at the closing price on December 31, 2017 in each of (i) our common stock, (ii) S&P 500 Index, (iii) Russell 3000 Index, and (iv) the S&P 1500 Composite / Electronic Equipment Instruments & Components Index, in each case assuming the reinvestment of dividends.
The stock price performance shown in this graph is not necessarily indicative of, and not is intended to suggest, future stock price performance.
16 unchanged sentences
For the fourth quarter of 2022, the Company withheld 363 shares at an average price of $88.92.
−Removed: (2) The previously announced stock repurchase program authorized in February 2019 was completed in the third quarter of 2021.
−Removed: On May 5, 2020, we announced that our Board of Directors authorized the purchase of up to $200 million of IPG common stock (the "May 2020 program"), exclusive of any fees, commissions or other expenses.
−Removed: There were 344,687 shares purchased in the fourth quarter of 2021 under the May 2020 program.
+Added: (2) The previously announced stock repurchase programs authorized in May 2020 and February 2022 were completed in the second quarter of 2022.
+Added: On August 2, 2022, we announced that our Board of Directors authorized the purchase of up to $300 million of IPG common stock (the "August 2022 authorization"), exclusive of any fees, commissions or other expenses.
+Added: Share repurchases under this purchase authorization were made periodically in open-market transactions using our working capital, and were subject to market conditions, legal requirements and other factors.
+Added: The share purchase program authorizations did not obligate us to repurchase any dollar amount or number of our shares, and repurchases could be commenced or suspended from time to time without prior notice.
+Added: We repurchased 1,298,994 shares in the fourth quarter of 2022 under the August 2022 authorization.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.