Form 4: Teledyne Technologies Director, Vincent J. Morales, Reports Acquisition of Restricted Stock Units

Director Vincent J. Morales reports acquisition of restricted stock units in Teledyne Technologies Inc.

Summary

• On April 24, 2024, Vincent J. Morales, a director of Teledyne Technologies Inc., reported the acquisition of 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.
• As of April 24, 2024, Morales directly holds 1,407 Restricted Stock Units.
• The price of $362.50 was used in determining the number of units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (grant of restricted stock units) and is generally neutral in sentiment. It indicates alignment of director interests with shareholders.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting period of one year 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 standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Director compensation packages often include restricted stock units to align their interests with shareholders, a common practice among publicly traded companies like Teledyne Technologies.
• Companies such as Lockheed Martin, General Dynamics, and L3Harris Technologies also utilize stock-based compensation for their executives and directors.

Stakeholder Impact

• The acquisition of restricted stock units by a director can positively influence shareholder sentiment by aligning management's interests with those of the shareholders.

Key Dates