Company: TDY
Filing Date: 2025-02-28
Form Type: PRE 14A
Source: 0001193125-25-042748
Chunk: 69

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: PRE 14A
Chunk 69
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 in compensation approved by the Committee in connection with a succession planning announcement in which Dr. Mehrabian would become Executive Chairman, Dr. Roks would become Chief Executive Officer and Mr. Bobb would become President and Chief Operating Officer, each effective as of January 1, 2024. With input from Exequity, the Committee set long term incentives to provide an equal value mix among the three components of Teledyne’s long-term compensation programs (stock options, performance plan, and performance-based restricted stock), with each component providing target compensation (on an annualized basis) equal to 100% of Dr. Mehrabian’s annual base salary starting in 2024. The Mehrabian Employment Agreement provides that effective January 1, 2024, the Company shall employ Dr. Mehrabian as Executive Chairman, with primary responsibility to manage the affairs of the Board and to manage and direct mergers and acquisition activities, strategic planning, technology and margin expansion initiatives of Teledyne. The term of the Mehrabian Employment Agreement continues through December 31, 2026. The Mehrabian Employment Agreement further provides for the following, among other things:

| • |     | Base Salary: Dr. Mehrabian’s base salary shall be $1,100,000 effective as of January 1, 2024, subject to future annual increases at the discretion of the Committee. |

| • |     | AIP: Dr. Mehrabian shall participate in the AIP with a target opportunity of 150% of base salary. |

| • |     | Restricted Stock: Dr. Mehrabian shall participate in the restricted stock award program with annual grants equal to 100% of base salary as of the date of the grant subject to meeting targets set forth in the restricted stock award. |

| • |     | Performance Plan: Dr. Mehrabian will participate at a target opportunity of 100% of base salary. |

| TELEDYNE TECHNOLOGIES INCORPORATED | 2025 Proxy Statement |     | 61 |

Compensation Discussion and Analysis (continued)

| • |     | Stock Options: With respect to options granted to Dr. Mehrabian beginning in 2024 and thereafter, if any, the Mehrabian Employment Agreement provides that Dr. Mehrabian’s stock option grants will have a fair value as of the grant date equal to 100% of base salary. With respect to options