4/A: Teradyne Executive Richard John Burns Amends SEC Filing After Reporting Error
SEC Form 4 Amendment
Teradyne executive Richard John Burns amended a previous SEC filing to correct a mathematical error regarding his share ownership after a stock transaction.
Summary
- Richard John Burns, President of Semiconductor Test at Teradyne, filed an amended Form 4 with the SEC.
- The amendment corrects a mathematical error in a previous filing on January 29, 2025, which overstated his share ownership by 191 shares.
- On January 27, 2025, 420 shares were withheld by Teradyne to cover tax obligations related to vesting restricted stock units.
- On January 27, 2025, after the tax withholding, Burns held 20,979.7519 shares.
- On January 28, 2025, Burns sold 407 shares at a price of $120.51 per share.
- Following the sale, Burns held 20,572.7519 shares.
- The sale of shares was conducted under a pre-arranged sales plan adopted on February 15, 2024, to comply with Rule 10b5-1.
Sentiment
Score: 7
Explanation: The document is neutral, it is a correction of a previous error. The stock sales are part of a pre-arranged plan and do not indicate any negative sentiment from the executive.
Negatives
- The original SEC filing contained a mathematical error, overstating share ownership.
Risks
- Errors in SEC filings can lead to scrutiny and potential regulatory issues.
- Executive stock sales, even under pre-arranged plans, can sometimes be perceived negatively by the market.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in the technology sector. It does not indicate any significant change in the company's operations or outlook.
Comparison to Industry Standards
- Executive stock transactions are a common occurrence in publicly traded companies, particularly in the technology sector.
- The use of Rule 10b5-1 trading plans is a standard practice for executives to avoid accusations of insider trading.
- The correction of a filing error is not uncommon and demonstrates the company's commitment to accurate reporting.
Stakeholder Impact
- The correction of the filing ensures transparency for shareholders.
- The stock sales by the executive are unlikely to have a significant impact on the company's operations or stock price.
Key Dates
| Date | Description |
|---|---|
| 2024-02-15 | Date the sales plan was adopted by the Reporting Person. |
| 2024-12-31 | Date of acquisition of 84.5909 shares under the Employee Stock Purchase Plan. |
| 2025-01-27 | Date of tax withholding of 420 shares and initial share ownership calculation. |
| 2025-01-28 | Date of sale of 407 shares. |
| 2025-01-29 | Date of original Form 4 filing with the mathematical error. |
| 2025-01-30 | Date of the amended Form 4 filing. |
Keywords
SEC Filing, Form 4, Teradyne, Richard John Burns, Stock Transaction, Share Ownership, Rule 10b5-1, Executive Stock Sale, Amendment
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.