Company: TDY
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001193125-25-054478
Chunk: 68

Company: TELEDYNE TECHNOLOGIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 68
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 the three-year period ended December 31, 2023, and in January 2024, the Committee confirmed vesting with respect to 89.4% of such awards.

| 60 |     | TELEDYNE TECHNOLOGIES INCORPORATED | 2025 Proxy Statement |

Compensation Discussion and Analysis (continued) Restrictions on 82.2% of the 2022 performance-based restricted stock award lapsed on January 25, 2025, since the performance of our stock price was 82.2% of that of the S&P 500 for the three-year period ended December 31, 2025, and in January 2025, the Committee confirmed vesting with respect to 82.2% of such awards. Change in Control Severance Agreements and Employment Agreements Change in Control Severance Agreements Each NEO is a party to a change in control severance agreement with us. A description of the terms of the agreements can be found under the heading “ Potential Payments upon Termination or a Change in Control” beginning on page 78 of this Proxy Statement. In entering into these agreements, the Committee desired to assure that we would have the continued dedication of certain executives and the availability of their advice and counsel, notwithstanding the possibility of a change in control, and to induce such executives to remain in our employ. The Committee believes that, should the possibility of a change in control arise, it is imperative that we be able to receive and rely upon our executives’ advice, if requested, as to the best interests of our Company and stockholders without the concern that he or she might be distracted by the personal uncertainties and risks created by the possibility of a change in control. The Committee also considered arrangements offered to similarly situated executives of comparable companies. We chose the specific amounts and triggers contained in the change in control severance agreements because we believe such terms provide reasonable assurances that our executive officers will remain employed with us through an acquisition or change of control event, should one occur, and assist in the assessment of a possible acquisition or change in control event and advise management and the Board as to whether such acquisition or change in control event would be in the best interests of our Company and stockholders. Employment Agreement with Dr. Mehrabian The Company has entered into an employment agreement with Dr. Mehrabian (the “Mehrabian Employment Agreement”). On October 24, 2023, Teledyne and Dr. Mehrabian amended and restated the Mehrabian