Company: TDY
Filing Date: 2025-12-18
Form Type: 8-K
Source: 0001094285-25-000145
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Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-12-18
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers

(e) On December 16, 2025, the Personnel and Compensation Committee and the Board of Directors of Teledyne Technologies Incorporated ("Teledyne"), with input from Exequity LLP, the Personnel and Compensation Committee's independent compensation consultant, took the following actions with respect to the compensation of Dr. Robert Mehrabian, Executive Chairman of Teledyne, and George C. Bobb III, President and Chief Executive Officer of Teledyne:

(i) The Personnel and Compensation Committee and the Board of Directors approved a Ninth Amended and Restated Employment Agreement with Dr. Mehrabian (the "Ninth Employment Agreement") and, on December 16, 2025, Teledyne and Dr. Mehrabian entered into the Ninth Employment Agreement, which amends and restates Dr. Mehrabian's Eighth Amended and Restated Employment Agreement, dated as of October 24, 2023, as amended on October 22, 2025 (the "Eighth Employment Agreement").

The Ninth Employment Agreement provides that Teledyne shall continue to 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 Ninth Employment Agreement continues through December 31, 2028.

The Mehrabian Employment Agreement further provides for the following, among other things:

• Base Salary:  Dr. Mehrabian’s base salary shall be $1,300,000 effective as of January 1, 2026, subject to future annual increases at the discretion of the Committee.

• AIP:  As was also provided in the Eighth Employment Agreement, Dr. Mehrabian shall participate in Teledyne's Annual Incentive Plan (AIP) with a target opportunity of 150% of base salary.

• Performance Plan:  Starting in 2026, Dr. Mehrabian will participate at a target opportunity of 110% of base salary.

• Restricted Stock:  Starting in 2026, Dr. Mehrabian shall participate in the performance-based restricted stock award program with annual grants equal to at least 110% of base salary as of the date of the grant subject to meeting targets set forth in the restricted stock award.

In addition