Company: TDY
Filing Date: 2025-04-28
Form Type: 10-Q
Source: 0001094285-25-000105
Chunk: 68

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-04-28
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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486$276.56 On April 22, 2025, the Company granted approximately 63,000 stock options at an exercise price of $461.10 per share and a grant date fair value of $179.30 per share.

15

Restricted stock activity for the first quarter of 2025 is as follows:SharesWeighted Average Fair Value per ShareBeginning balance160,344$398.79 Granted19,188$442.76 Vested(37,287)$409.82 Forfeited/canceled(5,428)$379.91 Ending balance136,817$402.70 On April 22, 2025, the Company granted approximately 71,000 time-based restricted stock units with a grant date fair value of $461.10 per share.

Note 11. Earnings Per Share

The weighted average number of common shares used in the calculation of basic and diluted earnings per share consisted of the following (in millions): First Quarter20252024Weighted average basic common shares outstanding46.8 47.3 Effect of dilutive securities (primarily stock options)0.5 0.7 Weighted average diluted common shares outstanding47.3 48.0 For the first quarter of 2024, the Company excluded approximately 0.2 million of stock options in the computation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive.  For the first quarter of 2025, the Company did not have any stock options that would have been anti-dilutive.Stock RepurchasesIn April 2024, our Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $1.25 billion of Teledyne’s common stock.  This authorization superseded prior open stock repurchase programs authorized by the Board of Directors.  The newly authorized stock repurchase program does not have a stated expiration date.  Shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, or via an accelerated stock repurchase program.  Shares could be repurchased in a plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934.  The repurchase program is expected to remain open continuously, and the number of shares purchased will depend on a variety of factors, such as share price, levels of cash available, acquisitions and alternative investment opportunities available immediately or longer-term, and other regulatory,