AI English summary of an SEC filing — figures as filed
Teradyne TERThe company said it had notified Charles J. Gray of his intent to retire as Vice President and General Counsel effective November 14, 2023, and that it entered into an Executive Officer Agreement with him on January 25, 2024. The company's notice was given on February 2, 2024.
Key points
AI summaryThe company said it had notified Charles J. Gray of his intent to retire as Vice President and General Counsel effective November 14, 2023, and that it entered into an Executive Officer Agreement with him on January 25, 2024. The company's notice was given on February 2, 2024.
The company said Gray's previously granted time-based restricted stock units and stock options granted before the effective date will continue to vest through February 2, 2027. Performance-based restricted stock units unvested as of the effective date will continue to vest under the terms of their award agreements.
The company said vested stock options as of the effective date, and options that vest during the non-competition period, may be exercised for the remainder of the applicable option term. It also said Gray is eligible to receive variable compensation and profit-sharing payments for fiscal 2023 when they are paid to other employees in the normal course.
The company said Gray is bound by non-competition and non-solicitation restrictions through February 2, 2027 and will enter into an employment release. The company explained that the sole purpose of this 8-K/A is to add compensation arrangements that were not determined at the time of the original 8-K, which was filed on November 15, 2023.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Charles J. Gray Retirement Notice and Executive Officer Agreement
The company said it had notified Charles J. Gray of his intent to retire as Vice President and General Counsel effective November 14, 2023, and that it entered into an Executive Officer Agreement with him on January 25, 2024. The company's notice was given on February 2, 2024.
Source · Based on the filing body and exhibits
Continued Vesting of Unvested Equity Awards
The company said Gray's previously granted time-based restricted stock units and stock options granted before the effective date will continue to vest through February 2, 2027. Performance-based restricted stock units unvested as of the effective date will continue to vest under the terms of their award agreements.
Source · Based on the filing body and exhibits
Stock Option Exercise and Fiscal 2023 Compensation
The company said vested stock options as of the effective date, and options that vest during the non-competition period, may be exercised for the remainder of the applicable option term. It also said Gray is eligible to receive variable compensation and profit-sharing payments for fiscal 2023 when they are paid to other employees in the normal course.
Source · Based on the filing body and exhibits
Non-Competition and Non-Solicitation; Purpose of Amendment
The company said Gray is bound by non-competition and non-solicitation restrictions through February 2, 2027 and will enter into an employment release. The company explained that the sole purpose of this 8-K/A is to add compensation arrangements that were not determined at the time of the original 8-K, which was filed on November 15, 2023.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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