Company: TDY
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001193125-25-054478
Chunk: 43

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 43
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holders. Accordingly, the Board unanimously recommends a voteAGAINSTthis proposal for the following reasons.Allowing 10% of Stockholders to Call Special Meetings Would Be Costly, Disruptive and Benefit Only a Small Percentage of StockholdersEnabling the holders of only 10% of the Company’s outstanding stock to call special meetings at any time and for any purpose could subject the Company and the Board to disruption from a small percentage of our stockholders or special interest groups with an agenda that is not in the best interests of the Company or our long-term stockholders.Allowing stockholders to call special meetings could impose substantial administrative and financial burdens on the Company and could significantly disrupt the conduct of the Company’s business. A special meeting of stockholders is expensive and time-consuming due to the costs associated with preparing the required disclosure documents and the related printing and mailing costs. Additionally, preparing for a special stockholder meeting requires significant time and attention of the Board, members of senior management and other key employees, diverting their time and attention away from their primary function of operating the business of the Company in the best interests of our stockholders.The Board believes that special meetings of stockholders should only be called in extraordinary circumstances, when the Board or the Company’s senior management determines, in accordance with their business judgment and the exercise of their fiduciary duties, that it is in the best interests of stockholders to take the extraordinary step of convening a special meeting. As a result, our Restated Certificate of Incorporation provides that a special meeting of stockholders may only be called by the Board, the Chairman of the Board or the Chief Executive Officer.We Have an Excellent Corporate Governance StructureOur existing governance policies and practices provide stockholders with numerous avenues to address and discuss our business and governance policies with our Board, and ensure that our Board acts independently and maintains accountability to our stockholders. Our Board believes that the corporate governance concerns raised by the proponent are misplaced. Some of the Company’s progressive governance practices include the following:•the Company recently amended the Restated Certificate of Incorporation to provide for thephased-indeclassification of the Board and the annual election of directors;•the Company has adopted proxy access, which allows stockholders owning at least 3% of the Company’s common stock for three years to nominate, and include in the Company’s proxy materials, director candidates constituting up to 20% of the Board;•the Company has adopted a majority voting standard for uncontested elections of directors, such that in an uncontested election, a