Coherent announced equity awards to its new CEO James R. Anderson, effective June 3, 2024, as part of his employment inducement package. The awards include 147,214 restricted stock units (RSUs) vesting equally over three years and 694,007 performance stock units (PSUs) tied to total shareholder return through June 30, 2027.The PSUs' vesting is based on relative TSR performance against the S&P Composite 1500 Electronic Equipment index, with payouts ranging from 50% at 25th percentile to 250% at 75th percentile. However, if absolute TSR is negative, the maximum payout is capped at 100%. Both awards include standard executive vesting provisions for termination and change in control scenarios.Special provisions apply for PSUs in case of a qualifying termination during a non-change-in-control period, where vesting will be based on TSR performance through termination date, prorated with 12 months' additional service credit, and paid at the greater of target or actual performance.

Coherent announced equity awards to its new CEO James R. Anderson, effective June 3, 2024, as part of his employment inducement package. The awards include 147,214 restricted stock units (RSUs) vesting equally over three years and 694,007 performance stock units (PSUs) tied to total shareholder return through June 30, 2027.The PSUs' vesting is based on relative TSR performance against the S&P Composite 1500 Electronic Equipment index, with payouts ranging from 50% at 25th percentile to 250% at 75th percentile. However, if absolute TSR is negative, the maximum payout is capped at 100%. Both awards include standard executive vesting provisions for termination and change in control scenarios.Special provisions apply for PSUs in case of a qualifying termination during a non-change-in-control period, where vesting will be based on TSR performance through termination date, prorated with 12 months' additional service credit, and paid at the greater of target or actual performance.