Teradata Corporation DEF 14A Filing

Ticker: TDC · Form: DEF 14A · Filed: Mar 26, 2024 · CIK: 816761

Teradata Corp /De/ DEF 14A Filing Summary
FieldDetail
CompanyTeradata Corp /De/ (TDC)
Form TypeDEF 14A
Filed DateMar 26, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$528 million, $1.570B, $528M, $375M, $419M
Sentimentneutral

Sentiment: neutral

Topics: Teradata, DEF 14A, Proxy Statement, Executive Compensation, Equity Awards

TL;DR

<b>Teradata Corporation files its Definitive Proxy Statement (DEF 14A) for the period ending May 14, 2024, detailing executive compensation and equity awards.</b>

AI Summary

TERADATA CORP /DE/ (TDC) filed a Proxy Statement (DEF 14A) with the SEC on March 26, 2024. This filing is a Definitive Proxy Statement (DEF 14A) for Teradata Corporation. The filing covers the period of report ending May 14, 2024. The company's fiscal year ends on December 31. The filing includes information related to executive compensation, specifically equity awards for PEO and Non-PEO NEOs. The filing details equity awards granted during the year, in prior years (vested and unvested), and those that failed to meet vesting conditions for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking TERADATA CORP /DE/, this filing contains several important signals. This DEF 14A filing provides shareholders with crucial information regarding executive compensation, including details on equity awards, which can influence voting decisions on related proposals. Understanding the specifics of equity awards, such as grant date values and vesting conditions, is important for shareholders to assess management's alignment with company performance and long-term value creation.

Risk Assessment

Risk Level: low — TERADATA CORP /DE/ shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosure on executive compensation and corporate governance, with no immediate red flags.

Analyst Insight

Shareholders should review the executive compensation details, particularly equity awards, to inform their voting decisions at the upcoming shareholder meeting.

Key Numbers

  • 2024-05-14 — Period of Report (Conformed Period of Report)
  • 2024-03-26 — Filing Date (Filed as of Date)
  • 1231 — Fiscal Year End (Fiscal Year End)
  • 7372 — SIC Code (Standard Industrial Classification)

Key Players & Entities

  • Teradata Corporation (company) — Registrant
  • Steve McMillan (person) — Member of the Board
  • Victor Lund (person) — Member of the Board

FAQ

When did TERADATA CORP /DE/ file this DEF 14A?

TERADATA CORP /DE/ filed this Proxy Statement (DEF 14A) with the SEC on March 26, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by TERADATA CORP /DE/ (TDC).

Where can I read the original DEF 14A filing from TERADATA CORP /DE/?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by TERADATA CORP /DE/.

What are the key takeaways from TERADATA CORP /DE/'s DEF 14A?

TERADATA CORP /DE/ filed this DEF 14A on March 26, 2024. Key takeaways: This filing is a Definitive Proxy Statement (DEF 14A) for Teradata Corporation.. The filing covers the period of report ending May 14, 2024.. The company's fiscal year ends on December 31..

Is TERADATA CORP /DE/ a risky investment based on this filing?

Based on this DEF 14A, TERADATA CORP /DE/ presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosure on executive compensation and corporate governance, with no immediate red flags.

What should investors do after reading TERADATA CORP /DE/'s DEF 14A?

Shareholders should review the executive compensation details, particularly equity awards, to inform their voting decisions at the upcoming shareholder meeting. The overall sentiment from this filing is neutral.

How does TERADATA CORP /DE/ compare to its industry peers?

Teradata Corporation operates in the prepackaged software industry, providing data warehousing and analytics solutions.

Are there regulatory concerns for TERADATA CORP /DE/?

This filing is made under Rule 14a-101 of the Securities Exchange Act of 1934, requiring specific information in proxy statements.

Industry Context

Teradata Corporation operates in the prepackaged software industry, providing data warehousing and analytics solutions.

Regulatory Implications

This filing is made under Rule 14a-101 of the Securities Exchange Act of 1934, requiring specific information in proxy statements.

What Investors Should Do

  1. Review the detailed executive compensation tables, focusing on equity awards granted to PEO and Non-PEO NEOs.
  2. Analyze the performance metrics and vesting conditions associated with equity awards to understand management's incentives.
  3. Vote on proposals related to executive compensation and board nominations based on the information provided in this proxy statement.

Key Dates

  • 2024-05-14: Annual Shareholder Meeting — End of the reporting period for the proxy statement.
  • 2024-03-26: Filing Date — Date the DEF 14A was filed with the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document for public companies regarding their annual shareholder meetings and related matters.

Filing Stats: 4,476 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-03-26 16:09:44

Key Financial Figures

  • $528 million — ort of our strategy included: Achieved $528 million in public cloud annual recurring revenu
  • $1.570B — 3 Financial Highlights vs. Prior Year $1.570B TOTAL ANNUAL RECURRING REVENUE ("ARR"
  • $528M — ANNUAL RECURRING REVENUE ("ARR") (1) $528M PUBLIC CLOUD ARR (2) $375M CASH FLOW
  • $375M — ARR") (1) $528M PUBLIC CLOUD ARR (2) $375M CASH FLOW FROM OPERATIONS 81% RECURR
  • $419M — ROWTH 6% 5%, CC (3) 48% 46%, CC (3) $419M IN 2022 $0.61 GAAP DILUTED E PS $2.
  • $0.61 — C (3) 48% 46%, CC (3) $419M IN 2022 $0.61 GAAP DILUTED E PS $2.07 NON-GAAP DIL
  • $2.07 — 19M IN 2022 $0.61 GAAP DILUTED E PS $2.07 NON-GAAP DILUTED EPS (4) $355 M FREE
  • $355 M — E PS $2.07 NON-GAAP DILUTED EPS (4) $355 M FREE CASH FLOW (4) $0.31 IN 2022 $1
  • $0.31 — D EPS (4) $355 M FREE CASH FLOW (4) $0.31 IN 2022 $1.64 IN 2022 $403M IN 2022
  • $1.64 — M FREE CASH FLOW (4) $0.31 IN 2022 $1.64 IN 2022 $403M IN 2022 (1) Total Annu
  • $403M — LOW (4) $0.31 IN 2022 $1.64 IN 2022 $403M IN 2022 (1) Total Annual Recurring Re

Filing Documents

From the Filing

tdc-20240326 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant x Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) x Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to Section 240.14a-12 Teradata Corporation (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): x No fee required. o Fee paid previously with preliminary materials. o Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(I) and 0-11. MESSAGE TO STOCKHOLDERS March 26, 2024 Dear Fellow Stockholder: I am pleased to invite you to attend Teradata Corporation's 2024 annual meeting of stockholders on May 14, 2024, at 8:00 a.m. Pacific Time. The meeting will be held virtually via a live webcast and can be accessed by following the instructions provided in this proxy statement. This proxy statement, which includes a notice of the 2024 annual meeting, includes the agenda and procedures for the meeting, including how stockholders can participate. It also describes how our Board of Directors operates and gives information about director candidates and general compensation, corporate governance, and other matters. Teradata is continuing to execute on our long-term strategy to build the leading hybrid multi-cloud analytics and data platform for trusted artificial intelligence ("AI"). 2023 was a significant year of profitable growth for Teradata – delivering almost ten-fold growth in the cloud in less than four years. In addition, during 2023, Teradata returned 87% of free cash flow back to you, our shareholders. The entire team has executed with determination and consistency in driving this strategic vision with a focus on sustainable, profitable growth. Teradata's significant accomplishments in 2023 in support of our strategy included: Achieved $528 million in public cloud annual recurring revenue ("ARR"), which is an increase of 48% year-over-year and represents 34% of total ARR – clearly significant milestones in Teradata's cloud-first journey. Realized a cloud net expansion rate of 124%. Grew total ARR by 6% and recurring revenue by 5%, each on a year-over-year basis. Drove cloud innovation by offering Teradata VantageCloud Lake, our cloud-native architecture, on both Amazon Web Services and Microsoft Azure, with plans to have it available on Google Cloud in 2024. Advanced our trusted AI product capabilities within our Vantage platform and ClearScape Analytics with the: launch of Teradata ask.ai, our generative AI capability for VantageCloud Lake, which provides a natural language interface designed to allow users to ask questions of their company's data and receive instant responses from VantageCloud Lake; inclusion of new ModelOps capabilities in ClearScape Analytics, which is intended to provide no-code capabilities to enable customers to quickly scale AI and advanced analytics with enterprise governance; and launch of Teradata AI Unlimited, our AI and machine learning experience in the cloud that is designed to provide access to vast amounts of data, flexibility, and the ability to cost-effectively and securely explore, experiment and operationalize new AI use cases, at scale, with plans to have Teradata AI Unlimited natively integrated with Microsoft's AI-powered platform, Microsoft Fabric. Continued to be recognized by leading industry analysts – including the following recognitions: inclusion in the Cloud Database Management System Magic Quadrant by Gartner, achieving the highest scores in Gartner's critical capabilities for cloud database management systems for analytical use cases in: Data Warehousing and Logical Data Warehousing; and recognized as a leader in the Forrester Wave: Cloud Data Warehouse, Q2, 2023 and Data Management for Analytics, Q1, 2023. Being a market leader comes with the duty to act as a responsible corporate citizen—an obligation we hold paramount. In 2023, we continued to advance on our ESG journey. In particular, with regard to greenhouse gas emissions, we announced a commitment to achieve carbon neutrality by the end of 2024 and net zero by 2050. In addition, we continued to receive a steady stream of high ratings and accolades in recognition of our commitment to different aspects of ESG, including, among others: a perfect score of 100% on the Human Rights Campaign 2023 Corporate Equality Index; included on the Ethisphere Institute's list of the World's Most Ethical Companies for the 15th year in a row; and named to the Do

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