IPG Photonics Announces Stock Transfer by CEO to New Trust for Estate Planning Purposes

Date Announced: 17 Dec 2012

Valentin Gapontsev continues to beneficially own 15% of IPG Photonics common stock.

OXFORD, Mass.--(BUSINESS WIRE)--IPG Photonics Corporation (NASDAQ: IPGP) today announced that founder, Chief Executive Officer and Chairman Valentin P. Gapontsev has gifted 110,000 shares of IPG common stock to a new irrevocable trust, the Valentin Gapontsev Trust III, dated December 13, 2012 (Gapontsev Trust III), for estate planning purposes. Gapontsev Trust III purchased from Dr. Gapontsev 890,000 shares of IPG common stock and a 2.0% ownership interest in IP Fibre Devices (UK) Ltd. with a promissory note. The transfers of the unregistered stock to Gapontsev Trust III were not made on the open market. As required, Dr. Gapontsev will file a Form 4 reporting the transfers of stock to Gapontsev Trust III using appraised values.

After the transfers to Gapontsev Trust III, Dr. Gapontsev continues to beneficially own 7,981,933 shares of IPG Photonics common stock, or 15.6% of the Issuer’s outstanding shares. This is comprised of 627,931 shares of IPG Photonics common stock owned directly by Dr. Gapontsev and 7,354,002 shares of common stock owned by IP Fibre Devices (UK) Ltd., of which Dr. Gapontsev is the sole managing director.

The trustees of the Trust are officers and employees of IPG Photonics and include Eugene Scherbakov, Alex Ovtchinnikov, Angelo Lopresti and Valentin Fomin.

Source: IPG Photonics

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