Company: TDY
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0001094285-25-000140
Chunk: 42

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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3)(40.7)Amortization of net prior service cost (income)— (0.1)0.1 (0.5)Amortization of net actuarial loss (gain)2.8 2.9 8.5 8.7 Pension non-service cost (income)$(2.9)$(2.8)$(8.1)$(8.2)

Note 10. Stock-Based Compensation 

Teledyne has long-term incentive plans pursuant to which it has granted non-qualified stock options, restricted stock awards and restricted stock units.  The Company also has non-employee director stock compensation plans pursuant to which common stock, stock options and restricted stock units have been issued to its directors.  The Company issues shares of common stock upon the exercise of stock options.  The Company uses the Black–Scholes option pricing model to determine the fair value of stock options.Stock-based compensation expense was $10.5 million and $30.7 million for the third quarter and first nine months of 2025, respectively, and $8.7 million and $30.0 million for the third quarter and first nine months of 2024, respectively.Stock option activity for the third quarter and first nine months of 2025 is as follows:Third QuarterNine Months SharesWeighted Average Exercise PriceSharesWeighted Average Exercise PriceBeginning balance1,034,778$299.25 1,135,749$278.34 Granted (a)4,660 $555.95 67,722 $467.63 Exercised(64,196)$202.86 (224,869)$210.09 Canceled(15,716)$418.86 (19,076)$414.50 Ending balance959,526$304.99 959,526$304.99 Exercisable at end of period827,254$284.51 827,254 $284.51 (a) In the second quarter of 2025, the Company granted stock options with a grant date fair value of $179.30 per share.Restricted stock activity for the third quarter and first nine months of 2025 is as follows:Third QuarterNine MonthsSharesWeighted Average Fair Value per ShareSharesWeighted Average Fair Value per ShareBeginning balance205,871$424.63 160,344 $398.79 Granted—$— 94,477 $456.