{"schema_version":"secwatch.filing_event.v1","accession":"0001111928-24-000067","form_type":"8-K","ticker":"IPGP","cik":"0001111928","company_name":"IPG PHOTONICS CORP","filed_at":"2024-04-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:17.334679+00:00","generated_at":"2026-06-03T04:01:50.728323+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"IPG Photonics appoints Mark Gitin as CEO effective June 5, 2024; Scherbakov transitions to advisor role","bullets":["Dr. Mark Gitin, previously EVP at MKS Instruments, named CEO effective June 5, 2024, succeeding Dr. Eugene Scherbakov.","Gitin receives $775k base salary, guaranteed 2024 bonus of 100% of base, $5M equity award (50% PSUs, 50% RSUs), $500k relocation stipend.","Scherbakov steps down as CEO, remains on Board, enters 2-year advisor agreement with fees: €1.24M first year, €800k second year.","Board enlarged to 11 members; Gitin appointed as director effective his start date."],"urls":{"canonical":"https://secwatch.observer/filing/0001111928-24-000067","json":"https://secwatch.observer/filing/0001111928-24-000067.json","markdown":"https://secwatch.observer/filing/0001111928-24-000067.md","text":"https://secwatch.observer/filing/0001111928-24-000067.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000067/0001111928-24-000067-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000067/ipgp-20240425.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T04:01:50.728323+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2fabce5299","claim":"Mark Gitin was appointed as Chief Executive Officer at IPG PHOTONICS CORP.","evidence_excerpt":"the Board of Directors (the “Board”) of IPG Photonics Corporation (the “Company”) appointed Dr. Mark Gitin as Chief Executive Officer of the Company, effective June 5, 2024","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000067/0001111928-24-000067-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"94907be244","claim":"Mark Gitin was appointed as Director at IPG PHOTONICS CORP.","evidence_excerpt":"The Board has also determined to increase the size of the Board to eleven directors and to appoint Dr. Gitin as a director to fill such vacancy, subject to Dr. Gitin commencing employment with the Company and effective as of the Start Date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000067/0001111928-24-000067-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"971409ade1","claim":"Eugene Scherbakov changed role as Chief Executive Officer at IPG PHOTONICS CORP.","evidence_excerpt":"Dr. Eugene Scherbakov will transition from his role as the Company’s Chief Executive Officer, effective as of June 5, 2024","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1111928/000111192824000067/0001111928-24-000067-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"transition"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}