Coherent Corp.
Coherent Corp. Announces New CFO with Inducement Grants
Summary
Coherent Corp. appointed Sherri R. Luther as its new Chief Financial Officer and Treasurer, effective October 11, 2024. As a material inducement to her employment, the company awarded her restricted stock units (RSUs) and performance stock units (PSUs). The RSUs, totaling 79,056 shares, vest in three or two installments over three or two years, respectively, subject to continued employment. The PSUs, covering a target of 118,583 shares, vest based on the company's total shareholder return relative to the S&P Composite 1500 - Electronic Equipment, Instruments & Components, with performance-based payouts ranging from 0% to 200%, capped at 100% if the company's TSR is negative. The awards were made pursuant to the company's offer letter agreement with Ms. Luther and in accordance with NYSE Rule 303A.08.
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About Coherent Corp.
Coherent Corp. is a prominent player in the photonics and laser technology industry, specializing in the development and manufacturing of optical and laser-based products. Its primary function involves providing advanced laser solutions and photonics technologies that are integral to a wide range of industrial, scientific, and commercial applications. Coherent Corp.’s products serve key sectors, including communications, industrial automation, semiconductor manufacturing, and healthcare, where precision laser systems and components are crucial. The company's laser technologies enable high-precision microelectronics manufacturing and have applications in medical devices, display technologies, and scientific research. Coherent Corp.'s role in the market is significant due to its innovative contributions to enhancing manufacturing efficiencies and facilitating technological advancements in industries that demand high-performance optical solutions. Headquartered in the United States, Coherent Corp. continues to influence the global photonics landscape, leveraging its expertise to advance technological capabilities and address complex industrial challenges.
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