Share-Based Compensation

6 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Award Plans

The Company’s Board of Directors amended and restated the Coherent Corp. Omnibus Incentive Plan and the Company’s shareholders approved such amendment and restatement at the Annual Meeting in November 2024 (as amended and restated, the “Plan”). The Plan was originally approved by the Company's shareholders at the Annual Meeting in November 2018, and was subsequently amended, restated and approved by the Company’s shareholders at the Annual Meetings held in November 2020 and 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 units to employees (including officers), consultants and directors of the Company.

On June 3, 2024, the Board of Directors granted 147,214 restricted stock units vesting over three years from date of grant and 694,007 performance stock units vesting over the approximate three-year period ending June 30, 2027, to the new CEO. The grants were non-Plan “employment inducement awards” as contemplated by the New York Stock Exchange Listing Rule 303A.08 and therefore were not made pursuant to the Plan.

On October 11, 2024, the Board of Directors granted 15,902 and 63,154 restricted stock units vesting over three years and two years, respectively, from date of grant and 118,853 performance stock units vesting over the approximate three-year period ending June 30, 2027, to the new CFO. The grants were non-Plan “employment inducement awards” as contemplated by the New York Stock Exchange Listing Rule 303A.08 and therefore were not made pursuant to the Plan.

The Company has an Employee Stock Purchase Plan whereby eligible employees may authorize payroll deductions (subject to certain limitations) of up to 15% (or such lesser amount as may be determined by the plan administrator) of their wages and base salary to purchase shares at an amount which will not be less than 85% of the lower of (i) the fair market value of the common stock on the first trading day of the offering period and (ii) the fair market value of the common stock on the last trading day of the approximately 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,
	2024		2023		2024		2023
Stock Options and Cash-Based Stock Appreciation Rights	$	166	$	803	$	583	$	(254)
Restricted Share Awards and Cash-Based Restricted Share Unit Awards	23,881		20,923		47,650		51,988
Performance Share Awards and Cash-Based Performance Share Unit Awards	14,757		2,985		23,749		13,830
Employee Stock Purchase Plan	2,208		2,541		4,508		6,212
	$	41,012	$	27,252	$	76,490	$	71,776