Form 4: Teledyne Technologies Director Simon M. Lorne Reports Acquisition of Restricted Stock Units

Director Simon M. Lorne reports the acquisition of 468 restricted stock units (RSUs) of Teledyne Technologies, vesting in one year, with share delivery potentially deferred until separation from board service.

Summary

• On April 24, 2024, Simon M. Lorne, a director of Teledyne Technologies Inc., acquired 468 restricted stock units (RSUs).
• These RSUs were granted under the company's 2014 Incentive Award Plan related to Non-Employee Director Restricted Stock Unit Awards and Fees.
• Each RSU represents a contingent right to receive one share of Teledyne Common Stock.
• The RSUs vest one year from the date of grant.
• 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.
• Following the transaction, Lorne directly holds 67,756 shares, including 2,192 Restricted Stock Units as of April 24, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns director interests with shareholders.

Positives

• The acquisition of RSUs aligns the director's interests with those of the shareholders.
• The vesting period encourages long-term commitment to the company's success.

Future Outlook

The director's holdings will increase as the RSUs vest, potentially aligning interests with shareholders.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.

Comparison to Industry Standards

• Equity compensation in the form of RSUs is a common practice among publicly traded companies to align the interests of directors and executives with those of shareholders.
• Vesting schedules, such as the one-year vesting period for these RSUs, are standard in the industry to incentivize long-term performance.
• Deferral of share delivery until separation from board service is also a common option offered to directors to manage their tax liabilities and align their interests with the long-term success of the company.

Stakeholder Impact

• The acquisition of RSUs by a director can positively influence shareholder confidence by aligning management's interests with the company's long-term performance.

Key Dates