Company: TDY
Filing Date: 2025-02-28
Form Type: PRE 14A
Source: 0001193125-25-042748
Chunk: 74

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-02-28
Form: PRE 14A
Chunk 74
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 upon promotion of certain employees, to retain certain employees, and in connection with acquisitions. Of these shares, 28,733 remained available for grant by our Executive Chairman and our Chief Executive Officer under this delegated authority as of February 14, 2025. Grants by our Executive Chairman and our Chief Executive Officer under this delegated authority may be made at any time, but primarily have been made to new hires (including new hires resulting from acquisitions) or following the successful completion of special projects. In 2024, no options and 177 restricted stock units were granted to employees by our Executive Chairman under his delegated authority. The Personnel and Compensation Committee does not grant equity awards, including stock options, in anticipation of the release of material non-public information, and we do not time the release of material non-public information based upon grant dates of equity. The Personnel and Compensation Committee does not take material non-public information into account in determining the timing and terms of its equity awards. Instead, equity awards are granted in connection with our yearly compensation cycle at pre-scheduled meeting dates. In 2024, option and restricted stock unit awards were made at the regularly scheduled meetings of the Personnel and Compensation Committee and the Board on January 23, 2024. We issued our press release containing financial results for the fourth quarter shortly following this meeting date. Pursuant to the terms of the Amended and Restated 2014 Incentive Award Plan, the exercise price for stock option grants must equal the fair market value of our common stock, which for purposes of the Amended and Restated 2014 Incentive Award Plan is defined as the closing sales price of a share of our common stock on the NYSE on the date of grant. New grants made by the Committee have exercise prices equal to the fair market value of our common stock on the effective date of the award, which is the date of the meeting at which the grant was approved by the Committee. Grants made by the Executive Chairman and our Chief Executive Officer have exercise prices equal to the fair market value of our common stock on the date of grant. Stock Awards .Performance-based restricted stock awards may be granted under our stockholder-approved incentive award plans by the Committee, which is the administrator of these plans. Performance-based restricted stock awards are generally granted each year by the Committee at its regularly scheduled meeting in January. For 2024, the number of shares was determined by dividing an amount generally equal in value to a specified percentage of a participating executive’s base salary by the average of the high and