Item 2.02. Results of Operations and Financial Condition
On November 2, 2021, IPG Photonics Corporation (the "Company") announced its
financial results for the quarter ended September 30, 2021. The full text of the
press release issued in connection with the announcement is furnished as
Exhibit 99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2 of Form 8-K, the information in Item
2.02 of this Current Report on Form 8-K, including Exhibit 99.1 referenced
herein, shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to
the liabilities of that Section, nor shall it be deemed incorporated by
reference in any filing by the Company under the Securities Act of 1933, as
amended, or the Exchange Act, except as expressly set forth by specific
reference in such a filing.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 2, 2021, IPG Photonics Corporation (the "Company") announced that
effective October 29, 2021, John Peeler, Lead Independent Director of the
Company, assumed the role of non-executive Chairman of the Board of Directors
(the "Board"). Mr. Peeler was appointed to the Board in 2012 and has served as
Lead Independent Director since 2017. Mr. Peeler succeeds the late Dr. Valentin
P. Gapontsev, founder of the Company, who had been appointed executive Chairman
of the Board after the roles of Chairman and CEO were separated in May 2021.
With the appointment of Mr. Peeler, the Company does not currently intend to
fill the role of Lead Independent Director, as the functions of such position
will be included in and fulfilled by the non-executive Chairman position.
Additionally, following the vacancy created by the recent passing of Dr.
Gapontsev, on October 29, 2021, the Company decreased the size of its Board to
eight. As a result, there is no vacancy on the Board.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
On October 29, 2021, the Board amended and restated the Company's amended and
restated Bylaws, dated August 18, 2020 (the "Amended and Restated Bylaws")
primarily to adopt the title of Chair in place of Chairman while allowing
flexibility to utilize the term of choice, clarify the roles and reporting of
the Chair and Chief Executive Officer, clarify the roles of Lead Independent
Director (if any) and executive officers at stockholder and Board meetings in
the absence of the Chair, and make additional clarifying and conforming
revisions.
The Amended and Restated Bylaws are effective October 29, 2021. The foregoing
summary does not purport to be complete and is qualified in its entirety by
reference to the full text of the Amended and Restated Bylaws, which is attached
hereto as Exhibit 3.2 to this Current Report on Form 8-K and is incorporated
herein by reference.
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Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit 99.1 relating to Item 2.02 shall be deemed to be furnished, and not
filed:
Exhibit Number Exhibit Description
Exhibit 3.2 Amended and Restated Bylaws of IPG Photonics Corporation.
Press Release issued by IPG Photonics Corporation on November
Exhibit 99.1 2 , 2021 .
Exhibit 104 Inline XBRL for the cover page of this Current Report on Form 8-K.
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