Company: TDY
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001094285-25-000053
Chunk: 227

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 227
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Acquired— 885,321 Issued101,043 (159,045)Balance, December 29, 202447,432,888 726,276 Shares issued from treasury stock include stock options exercised as well as shares issued under certain other compensation plans.Treasury StockDuring 2024, the Company repurchased approximately 0.9 million shares for $354.0 million with a weighted-average price of $399.78 per share.  All of the Company’s share repurchases were settled between April 2024 and October 2024.Stock OptionsThe Company recorded $12.3 million, $12.4 million, and $17.9 million for stock option expense for 2024, 2023 and 2022, respectively.  The Company issues shares of common stock upon the exercise of stock options.  During 2024 and 2023, the amount of cash received from the exercise of stock options was $37.9 million and $45.4 million, respectively.  The total pretax intrinsic value of options exercised during 2024 and 2023 (which is the amount by which the stock price exceeded the exercise price of the options on the date of exercise) was $72.4 million and 111.0 million, respectively.  At December 29, 2024, the intrinsic value of stock options outstanding was $219.3 million and the intrinsic value of stock options exercisable was $213.1 million.

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At December 29, 2024, there was $10.3 million of total unrecognized compensation cost related to non-vested stock option awards which is expected to be recognized over a weighted-average period of 1.7 years.  This amount can be impacted by employee retirements or terminations.  Stock option valuation assumptions:2024Expected dividend yieldn/aExpected volatility30.4%Risk-free interest rate4.07%Expected life in years6.3The Company did not grant stock options in 2023.  Based on the assumptions used in the valuation of stock options, the grant date weighted average fair value of stock options granted in 2024 and 2022 was $171.20 and $124.44, respectively.Stock option transactions for Teledyne’s stock option plans are summarized as follows: 202420232022 SharesWeighted Average Exercise PriceSharesWeighted Average Exercise PriceSharesWeighted Average Exercise PriceBeginning balance1,337,972$249.