Coherent Announces New Employee Inducement Grants Under NYSE Rule 303A.08
Coherent Corp. (NYSE: COHR), a global leader in materials, networking, and lasers, has announced new employee inducement grants for its recently appointed Chief Financial Officer and Treasurer, Sherri R. Luther. The awards, effective from her start date on October 11, 2024, include:
1. 15,902 Restricted Stock Units (RSUs) vesting in three equal installments over three years.
2. 63,154 RSUs vesting in two equal installments over two years.
3. 118,583 Performance Stock Units (PSUs) vesting based on the company's total shareholder return (TSR) relative to the S&P Composite 1500—Electronic Equipment, Instruments & Components index from the grant date to June 30, 2027.
These grants were made as a material inducement to Ms. Luther joining the company, in accordance with NYSE Listed Company Manual Rule 303A.08.
Coherent Corp. (NYSE: COHR), un leader globale nei materiali, networking e laser, ha annunciato nuovi incentivi per i dipendenti per la sua recentemente nominata Chief Financial Officer e Tesoriere, Sherri R. Luther. I premi, che entreranno in vigore dalla sua data di inizio l'11 ottobre 2024, comprendono:
1. 15.902 Unità di Azioni Riservate (RSUs) che matureranno in tre rate uguali nel corso di tre anni.
2. 63.154 RSUs che matureranno in due rate uguali nel corso di due anni.
3. 118.583 Unità di Azioni Performance (PSUs) che matureranno in base al rendimento totale per gli azionisti dell'azienda (TSR) rispetto all'indice S&P Composite 1500—Electronic Equipment, Instruments & Components, dalla data di concessione fino al 30 giugno 2027.
Questi incentivi sono stati concessi come un incentivo materiale per l'ingresso della signora Luther nella società, in conformità con la Regola 303A.08 del Manuale delle Aziende Quotabili NYSE.
Coherent Corp. (NYSE: COHR), un líder global en materiales, redes y láseres, ha anunciado nuevos incentivos para empleados para su recientemente nombrada Directora Financiera y Tesorera, Sherri R. Luther. Las recompensas, efectivas a partir de su fecha de inicio el 11 de octubre de 2024, incluyen:
1. 15,902 Unidades de Acciones Restringidas (RSUs) que se concederán en tres cuotas iguales durante tres años.
2. 63,154 RSUs que se concederán en dos cuotas iguales durante dos años.
3. 118,583 Unidades de Acciones por Rendimiento (PSUs) que se concederán según el rendimiento total para los accionistas de la compañía (TSR) en relación con el índice S&P Composite 1500—Electronic Equipment, Instruments & Components desde la fecha de concesión hasta el 30 de junio de 2027.
Estos incentivos se otorgaron como un incentivo material para que la Sra. Luther se uniera a la empresa, de acuerdo con la Regla 303A.08 del Manual de Empresas Listadas de NYSE.
Coherent Corp. (NYSE: COHR), 재료, 네트워킹 및 레이저 분야의 글로벌 리더가 최근 임명된 최고 재무 책임자(CFO) 겸 재무 담당 이사인 Sherri R. Luther를 위한 새로운 직원 인센티브 보상을 발표했습니다. 이 보상은 2024년 10월 11일 그녀의 시작일부터 유효하며, 포함된 내용은 다음과 같습니다:
1. 15,902 제한주식단위(RSUs)가 3년 동안 3회에 걸쳐 균등하게 지급됩니다.
2. 63,154 RSUs가 2년 동안 2회에 걸쳐 균등하게 지급됩니다.
3. 118,583 성과주식단위(PSUs)가 grant 날짜부터 2027년 6월 30일까지 S&P Composite 1500—Electronic Equipment, Instruments & Components 지수에 대한 회사의 총 주주 수익률(TSR)을 기준으로 지급됩니다.
이 보상은 Luther 씨가 회사에 합류하도록 유도하는 중요한 인센티브로 제공되었으며, NYSE 상장 기업 매뉴얼 규칙 303A.08에 따라 이루어진 것입니다.
Coherent Corp. (NYSE: COHR), un leader mondial dans les domaines des matériaux, du réseau et des lasers, a annoncé de nouvelles attributions d'incitation pour les employés pour sa nouvelle directrice financière et trésorière, Sherri R. Luther. Les récompenses, effectives à partir de sa date de début le 11 octobre 2024, comprennent :
1. 15 902 Unités d'Actions Restreintes (RSUs) se déployant en trois versements égaux sur trois ans.
2. 63 154 RSUs se déployant en deux versements égaux sur deux ans.
3. 118 583 Unités d'Actions de Performance (PSUs) se déployant en fonction du rendement total des actionnaires de l'entreprise (TSR) par rapport à l'indice S&P Composite 1500—Electronic Equipment, Instruments & Components depuis la date d'attribution jusqu'au 30 juin 2027.
Ces attributions ont été effectuées comme une incitation matérielle pour que Mme Luther rejoigne l'entreprise, conformément à la règle 303A.08 du manuel des sociétés listées de la NYSE.
Coherent Corp. (NYSE: COHR), ein weltweit führendes Unternehmen in den Bereichen Materialien, Netzwerktechnologie und Laser, hat neue Mitarbeitereinladungsvergaben für die neu ernannte Finanzvorständin und Schatzmeisterin Sherri R. Luther bekannt gegeben. Die Vergaben, die ab ihrem Starttermin am 11. Oktober 2024 wirksam werden, umfassen:
1. 15.902 eingeschränkte Stammaktien (RSUs), die über drei Jahre in drei gleichen Raten fällig werden.
2. 63.154 RSUs, die über zwei Jahre in zwei gleichen Raten fällig werden.
3. 118.583 Performance-Aktien (PSUs), die basierend auf der Gesamtrendite der Aktionäre des Unternehmens (TSR) im Vergleich zum S&P Composite 1500—Electronic Equipment, Instruments & Components-Index vom Datum der Vergabe bis zum 30. Juni 2027 fällig werden.
Diese Vergaben wurden als wesentliche Anreiz für Frau Luther bei dem Unternehmen zu arbeiten, gemäß der NYSE-listed Company Manual Regel 303A.08 gewährt.
- Appointment of a new Chief Financial Officer and Treasurer
- Implementation of performance-based incentives for key executive
- Alignment of executive compensation with shareholder returns through TSR-based PSUs
- Potential dilution of existing shareholders due to new stock grants
PITTSBURGH, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Coherent Corp. (the “Company”) (NYSE: COHR), a global leader in materials, networking, and lasers, today announced that the Company made awards of restricted stock units (“RSUs”) and performance stock units (“PSUs”) to its new Chief Financial Officer and Treasurer, Sherri R. Luther, effective on her start date, October 11, 2024. The awards were made pursuant to the Company’s previously announced offer letter agreement with Ms. Luther, and as a material inducement to her joining the Company as its Chief Financial Officer and Treasurer.
The material terms of the awards are as follows:
- The first award of RSUs covers 15,902 shares of the Company’s common stock and becomes vested in three substantially equal installments on the first three anniversaries of the grant date subject to Ms. Luther’s continued employment through each vesting date, except as noted below.
- The second award of RSUs covers 63,154 shares of the Company’s common stock and becomes vested in two substantially equal installments on the first two anniversaries of the grant date subject to Ms. Luther’s continued employment through each vesting date, except as noted below.
- The PSUs cover a target of 118,583 shares of the Company’s common stock and become vested based on the Company’s total shareholder return (“TSR”) for the period beginning on the grant date and ending on June 30, 2027, relative to returns on the S&P Composite 1500—Electronic Equipment, Instruments & Components for that performance period. Performance below the 25th percentile results in no payout; performance at the 25th percentile (threshold) results in a
50% payout; performance at the 50th percentile (target) results in a100% payout; and performance at or above the 75th percentile (max) results in a200% payout. However, the payout for performance above target is capped at100% if the Company’s absolute TSR for the performance period is negative. Ms. Luther also must remain employed with the Company through the end of the performance period, except as noted below. - The RSUs and PSUs include vesting treatment on termination of employment or “change in control” (as defined in the Company’s Omnibus Incentive Plan) consistent with the Company’s standard terms for executive officers, including in accordance with the terms of the Company’s Revised Executive Severance Plan and the standard form of Participation Agreement executed by Ms. Luther under the Revised Executive Severance Plan.
Each award was granted as a material inducement to employment in accordance with the NYSE Listed Company Manual Rule 303A.08.
About Coherent
Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems. We deliver innovations that resonate with our customers in diversified applications for the industrial, communications, electronics, and instrumentation markets. Coherent has research and development, manufacturing, sales, service, and distribution facilities worldwide. For more information, please visit us at coherent.com.
Media Contact:
Amy Wilson
Corporate Communications & Investor Relations
corporate.communications@coherent.com
FAQ
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