SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Ovtchinnikov Alexander

(Last)

(First)

(Middle)

C/O IPG PHOTONICS CORPORATION

50 OLD WEBSTER ROAD

(Street)

OXFORD

01540

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/12/2006

3. Issuer Name and Ticker or Trading Symbol
IPG PHOTONICS CORP [ IPGP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	96,846	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Options (right to buy)	⁽¹⁾	03/03/2014	Common Stock	2,222	$1.5	D
Employee Stock Options (right to buy)	⁽²⁾	03/03/2014	Common Stock	16,667	$1.5	D
Employee Stock Options (right to buy)	⁽³⁾	09/22/2015	Common Stock	10,934	$1.87	D
Employee Stock Options (right to buy)	⁽⁴⁾	04/18/2016	Common Stock	100,000	$5.37	D

Explanation of Responses:

1. Mr. Ovtchinnikov was granted options to purchase 6,666 shares, which are exercisable in three equal annual installments of 2,222 shares beginning on 3/3/05. Mr. Ovtchinnikov has exercised 4,445 of these options.

2. Mr. Ovtchinnikov was granted options to purchase 33,333 shares, which are exercisable in four equal annual installments of 8,334 shares beginning on 3/3/05. Mr. Ovtchinnikov has exercised 16,666 of these options.

3. Mr. Ovtchinnikov was granted options to purchase 13,333 shares, which are exercisable in four equal annual installments of 3,334 shares beginning on 9/22/06. Mr. Ovtchinnikov has exercised 2,400 of these options.

4. These options are exercisable in five equal annual installments of 20,000 shares beginning on 4/18/07.

Remarks:

	Angelo P. Lopresti, as Attorney-in-Fact	12/12/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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