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Stock-based Compensation Plans
3 Months Ended
Apr. 02, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation Plans Stock-based Compensation
Teledyne has long-term incentive plans pursuant to which it has granted non-qualified stock options and restricted stock. The Company also has non-employee Board of Director stock compensation plans, pursuant to which common stock, stock options and restricted stock have been issued to its directors. The Company issues shares of common stock upon the exercise of stock options.
Stock-based compensation expense was $7.9 million for the first quarter of 2023 and $9.0 million the first quarter of 2022.
Stock option activity for the first three months of 2023 is as follows:
 SharesWeighted Average Exercise Price
Balance at January 1, 2023
1,726,731$223.43 
Exercised(95,748)$106.51 
Canceled(8,039)$415.27 
Balance at April 2, 2023
1,622,944$229.38 
Exercisable at end of period1,366,491$197.58 
Restricted stock activity for the first three months of 2023 is as follows:
SharesWeighted average fair value per share
Balance at January 1, 2023
166,395 $368.62 
Granted15,573 $361.64 
Vested(22,555)$389.60 
Forfeited/Canceled(5,313)$356.97 
Balance at April 2, 2023
154,100 $357.28