Company: TDY
Filing Date: 2025-01-22
Form Type: 8-K
Source: 0001094285-25-000005
Chunk: 3

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-01-22
Form: 8-K
Item: Item 5.02
Chunk 3
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 President and Chief Financial Officer                                                                                   80  
  Robert Mehrabian          Executive Chairman                                                                                                                 100  
  George C. Bobb III        President and Chief Operating Officer                                                                                              100  
  Jason VanWees             Vice Chairman                                                                                                             100           
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(5) The Committee established under the Plan a three-year cycle of Teledyne’s Performance Plan for key employees, including the Named Executive Officers.

Performance Plan awards are intended to reward executives to the extent Teledyne achieves specific pre-established financial performance goals and provides a greater long-term return to shareholders relative to a broader market index. The 2025-2027 performance plan awards are based on the following goals: 40% of the award is based on the achievement of specified levels of operating profit, 30% on the achievement of specified levels of revenue and 30% on the achievement of specified levels of total shareholder return. No awards are made if the three-year aggregate operating profit is less than 75% of target, unless the Committee determines otherwise. For the operating profit and revenue components, a maximum of 200% can be earned if 120% of the target is achieved. For the total shareholder return component, a maximum of 200% can be earned if Teledyne's aggregate total shareholder return is at or above the 75th percentile compared to the companies in the benchmark index. For the 2025-2027 performance cycle, the S& P 500 Index is the benchmark for the total shareholder return component.

Awards are paid in cash to the participants as soon as practicable after the end of the performance cycle.

For the 2025-2027 performance cycle, the following Named Executive Officers identified in Teledyne’s 2024 Proxy Statement are eligible for a target award based on the following percentage of their annual base salary:

  Name                      Current Position                                       2025-2027 Performance Plan Award Opportunity as a Percentage of Base Salary           
  Edwin Roks                Chief Executive Officer                                                                                                        120           
  Stephen F. Blackwood      Senior Vice President and Chief Financial Officer                                                                                        80  
  Robert Mehrabian          Executive Chairman                                                                                                                      100  
  George C. Bobb III        President and Chief Operating Officer                                                                                                   100  
  Jason VanWees             Vice Chairman                                                                                                                  100           
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