Teradyne 8-K: Officer Compensation, Other Events on Jan 12, 2024
Ticker: TER · Form: 8-K · Filed: Jan 12, 2024 · CIK: 97210
Complexity: simple
Sentiment: neutral
Topics: executive-compensation, corporate-governance, 8-K
TL;DR
**Teradyne filed an 8-K on Jan 12 for officer compensation changes and other events.**
AI Summary
Teradyne, Inc. filed an 8-K on January 12, 2024, to report an event that occurred on the same date. This filing, under Items 5.02 and 8.01, indicates a change in compensatory arrangements for certain officers and other events, though specific details are not provided in this excerpt. For investors, this matters because changes in executive compensation or other significant events can signal shifts in company strategy, financial health, or governance, potentially impacting stock valuation.
Why It Matters
Changes in executive compensation or other significant corporate events can influence investor confidence and the company's future performance, directly affecting stock price.
Risk Assessment
Risk Level: medium — The filing indicates changes in officer compensation and other events, which could be positive or negative, introducing moderate uncertainty without specific details.
Analyst Insight
A smart investor would monitor for subsequent filings or press releases from Teradyne, Inc. that provide specific details about the 'Compensatory Arrangements of Certain Officers' and 'Other Events' mentioned in this 8-K, as these details could impact future financial performance and stock valuation.
Key Players & Entities
- TERADYNE, INC. (company) — the registrant filing the 8-K
- January 12, 2024 (date) — date of earliest event reported and filing date
- 001-06462 (other) — Commission File Number
- 04-2272148 (other) — IRS Employer Identification No.
- 600 Riverpark Drive, North Reading, MA 01864 (other) — principal executive offices address
- (978) 370-2700 (other) — registrant's telephone number
Forward-Looking Statements
- Further details regarding the compensatory arrangements for certain officers will be disclosed in subsequent filings or company communications. (Teradyne, Inc.) — medium confidence, target: Q1 2024
FAQ
What was the specific date of the earliest event reported in this 8-K filing by Teradyne, Inc.?
The earliest event reported in this 8-K filing by Teradyne, Inc. occurred on January 12, 2024.
Which items of Form 8-K were reported by Teradyne, Inc. in this filing?
Teradyne, Inc. reported under Item 5.02, 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers,' and Item 8.01, 'Other Events,' in this 8-K filing.
What is the business address of Teradyne, Inc. as stated in the filing?
The business address of Teradyne, Inc. is 600 Riverpark Drive, North Reading, MA 01864.
What is the Commission File Number for Teradyne, Inc. according to this 8-K?
The Commission File Number for Teradyne, Inc. is 001-06462.
What is the primary industry classification for Teradyne, Inc.?
Teradyne, Inc.'s Standard Industrial Classification is 'INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]'.
Filing Stats: 719 words · 3 min read · ~2 pages · Grade level 10.1 · Accepted 2024-01-12 08:40:00
Key Financial Figures
- $0.125 — ich registered Common Stock, par value $0.125 per share TER Nasdaq Stock Market L
- $90,000 — ill receive compensation at the rate of $90,000 per year. On January 12, 2024, Ms. va
- $74,290 b — res having a fair market value equal to $74,290 based on the Board's annual equity compen
- $230,000 — e Board's annual equity compensation of $230,000 prorated daily to reflect the period fr
Filing Documents
- d562168d8k.htm (8-K) — 27KB
- d562168dex991.htm (EX-99.1) — 4KB
- 0001193125-24-007127.txt ( ) — 149KB
- ter-20240112.xsd (EX-101.SCH) — 3KB
- ter-20240112_lab.xml (EX-101.LAB) — 17KB
- ter-20240112_pre.xml (EX-101.PRE) — 11KB
- d562168d8k_htm.xml (XML) — 3KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 12, 2024, the Board of Directors (the "Board") of Teradyne, Inc. ("Teradyne") elected Bridget A. van Kralingen as a director of Teradyne and appointed her to the Board's Compensation Committee and Nominating and Corporate Governance Committee. The Board has determined that Ms. van Kralingen is independent. To be considered independent by the Board, a director must satisfy the definitions pursuant to the Securities Exchange Commission and Nasdaq rules and, in the Board's judgment, not have a material relationship with Teradyne. Teradyne's Corporate Governance Guidelines, which include director qualification standards, are available on Teradyne's web site at www.teradyne.com under the "Governance" section of the "Investor Relations" link. Ms. van Kralingen will receive compensation at the rate of $90,000 per year. On January 12, 2024, Ms. van Kralingen received a grant of restricted stock units pursuant to Teradyne's 2006 Equity and Cash Compensation Incentive Plan in an amount of shares having a fair market value equal to $74,290 based on the Board's annual equity compensation of $230,000 prorated daily to reflect the period from her date of appointment to the expected date of the 2024 Annual Meeting of Shareholders. This grant vests in full on the earlier of the date the 2024 Annual Meeting of Shareholders is held or the last Thursday in May 2024. There are no arrangements or understandings between Ms. van Kralingen and any other persons pursuant to which she was selected to serve as a director of Teradyne. In addition, there are no transactions between Teradyne and Ms. van Kralingen or her immediate family members requiring disclosure under Item 404(a) of Regulation S-K promulgated under the Exchange Act.
01
Item 8.01. Other Events. On January 12, 2024, Teradyne issued a press release announcing the election of Ms. van Kralingen to the Board effective as of January 12, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release issued by Teradyne, Inc. on January 12, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TERADYNE, INC. Dated: January 12, 2024 By: /s/ Sanjay Mehta Name: Sanjay Mehta Title: V.P., Chief Financial Officer and Treasurer