Form 4: Teledyne Technologies Director Michael T. Smith Reports Acquisition of Restricted Stock Units

Director Michael T. Smith reports acquisition of restricted stock units in Teledyne Technologies, along with existing shareholdings.

Summary

• Michael T. Smith, a director of Teledyne Technologies Inc., filed a Form 4 disclosing changes in beneficial ownership.
• On April 24, 2024, Smith acquired 468 restricted stock units (RSUs) under the company's 2014 Incentive Award Plan.
• These RSUs vest one year from the grant date and represent a contingent right to receive one share of Teledyne common stock each.
• The price used in determining the number of units was $362.50.
• Following the transaction, Smith directly owns 56,960 shares, including 887 restricted stock units, and disclaims beneficial ownership of 200 shares owned by his wife.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's continued investment in the company through the acquisition of restricted stock units.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting period encourages long-term commitment.

Future Outlook

Shares of common stock will be delivered to the Reporting Person following the vesting date, unless the Reporting Person has made an election to defer delivery of shares until separation from Board service.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates a director's continued investment in the company.

Stakeholder Impact

• The acquisition of restricted stock units by a director can be viewed positively by shareholders as it aligns management's interests with theirs.

Key Dates