5 unchanged sentences
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, the Russell 3000 Index and the S&P 1500 Composite 1500 / Electronic Equipment Instruments & Components Index.
−Removed: We include the Russell 3000 Index because we ceased being a member of the S&P 500 Index in June 2022.
−Removed: 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.
−Removed: 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.
+Added: The following graph presents the cumulative shareholder returns for our Common Stock compared with the Russell 3000 Index and the S&P Composite 1500 - Electronic Equipment, Instruments & Components Index.
+Added: We include the Russell 3000 Index because we became a member of this index in 2022.
+Added: We include the S&P Composite 1500 - Electronic Equipment, Instruments & Components Index because outstanding performance stock units awarded to executive officers and outstanding at December 31, 2023 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.
Base Period 5-Year Cumulative Total Return
1 unchanged sentence
IPG Photonics Corporation $ 100.00 $ 127.92 $ 197.54 $ 151.95 $ 83.56 $ 95.81
−Removed: S&P 500 Index $ 100.00 $ 95.62 $ 125.72 $ 148.85 $ 191.58 $ 156.88
Russell 3000 Index $ 100.00 $ 128.54 $ 152.73 $ 189.39 $ 150.61 $ 186.68
S&P Composite 1500 - Electronic Equipment, Instruments & Components Index $ 100.00 $ 132.66 $ 164.30 $ 212.24 $ 166.02 $ 199.92
−Removed: 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.
+Added: The above graph represents and compares the value, through December 31, 2023, of a hypothetical investment of $100 made at the closing price on December 31, 2018 in each of (i) our common stock, (ii) Russell 3000 Index, and (iii) the S&P Composite 1500 - 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.
We currently intend to retain future earnings for use in our business and do not anticipate paying cash dividends in the foreseeable future.
−Removed: Any future determination related to our dividend policy will be made at the discretion of our Board of Directors, taking into account any contractual and legal restrictions on our payment of dividends.
+Added: Any future determination related to our dividend policy will be made at the discretion of our Board, taking into account any contractual and legal restrictions on our payment of dividends.
Recent Sales of Unregistered Securities;
10 unchanged sentences
Total 670,096 $ 94.86 668,895 $ 90,518
−Removed: (1) In 2012, our Board of Directors approved "withhold to cover" as a tax payment method for vesting of restricted stock awards for certain employees.
+Added: (1) In 2012, our Board approved "withhold to cover" as a tax payment method for vesting of restricted stock awards for certain employees.
Pursuant to the "withhold to cover" method, we withheld from such employees the shares noted in the table above to cover tax withholding related to the vesting of their awards.
For the fourth quarter of 2023, the Company withheld 1,201 shares at an average price of $93.87.
−Removed: (2) The previously announced stock repurchase programs authorized in May 2020 and February 2022 were completed in the second quarter of 2022.
−Removed: 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.
−Removed: 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.
−Removed: 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.
−Removed: We repurchased 1,298,994 shares in the fourth quarter of 2022 under the August 2022 authorization.
+Added: (2) On May 2, 2023, we announced that our Board authorized the purchase of up to $200 million of IPG common stock (the "May 2023 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.
+Added: On February 13, 2024, we announced that our Board authorized the purchase of up to $300 million of IPG common stock, exclusive of any fees, commissions or other expenses.
+Added: Share repurchases under these authorizations may be made periodically in open-market transactions, and are subject to market conditions, legal requirements and other factors.
+Added: The share purchase program authorizations do 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 668,895 shares in the fourth quarter of 2023 under the May 2023 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.