Share-Based Compensation

6 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Award Plans

The Company’s Board of Directors amended the Coherent Corp. 2018 Omnibus Incentive Plan, which originally was approved by the Company's shareholders at the Annual Meeting in November 2018, as the Coherent Corp. Omnibus Incentive Plan (as amended and restated, the “Plan”). The Plan was approved at the Annual Meeting in November 2023. The Plan provides for the grant of stock options, stock appreciation rights, restricted shares, restricted share units, deferred shares, performance shares and performance share units to employees, officers and directors of the Company. The maximum number of shares of Coherent Common Stock authorized for issuance under the Plan is limited to 13,450,000 shares of Coherent Common Stock, not including any remaining shares forfeited under the predecessor plans that may be rolled into the Plan. Certain awards under the Plan have certain vesting provisions predicated upon the death, retirement or disability of the grantee.

On the Closing Date, the Company assumed the Coherent, Inc. Equity Incentive Plant (“Legacy Coherent Plan”) and the Legacy Coherent unvested restricted stock units (“Converted RSUs”) that are generally subject to the same terms and conditions that applied to the Converted RSUs immediately prior to the Closing Date. After the Closing Date, the Company granted restricted stock units under the Legacy Coherent Plan through August 28, 2023. No additional awards will be granted under the Coherent Legacy Plan.

The Company has an Employee Stock Purchase Plan whereby eligible employees may authorize payroll deductions of up to 10%, or such other percentage up to 15% that the Company determines, of their regular base salary to purchase shares at the lower of 85% of the fair market value of the common stock on the date of commencement of the offering or on the last day of the six-month offering period.

Share-based compensation expense for the periods indicated was as follows ($000):


	Three Months Ended December 31,				Six Months Ended December 31,
	2023		2022		2023		2022
Stock Options and Cash-Based Stock Appreciation Rights	$	803	$	601	$	(254)	$	160
Restricted Share Awards and Cash-Based Restricted Share Unit Awards	20,923		28,818		51,988		73,470
Performance Share Awards and Cash-Based Performance Share Unit Awards	2,985		3,242		13,830		10,331
Employee Stock Purchase Plan	2,541		2,256		6,212		4,159
	$	27,252	$	34,917	$	71,776	$	88,120