UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 3, 2022, Teradyne, Inc. (“Teradyne” or the “Company”) appointed Greg Smith President of the Company effective July 1, 2022. Mark Jagiela will continue as Teradyne’s Chief Executive Officer. Mr. Smith, 59, joined Teradyne in 2006 and has served as President of the Company’s Industrial Automation Group since 2020. Mr. Smith served as President of the Company’s Semiconductor Test Division from 2016 to 2020.
In connection with his appointment as President of the Company, effective July 1, 2022, Mr. Smith’s annual base salary will be increased from $540,000 to $750,000, his performance-based variable cash compensation target will be increased from 85% to 100% of his annual base salary, and he will be eligible for the Company’s Cash Profit Sharing Plan.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| TERADYNE, INC. | ||||||
| Dated: June 7, 2022 | By: | /s/ Charles J. Gray | ||||
| Name: | Charles J. Gray | |||||
| Title: | V.P., General Counsel and Secretary | |||||
Document and Entity Information |
Jun. 03, 2022 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | TERADYNE, INC |
| Amendment Flag | false |
| Entity Central Index Key | 0000097210 |
| Document Type | 8-K |
| Document Period End Date | Jun. 03, 2022 |
| Entity Incorporation State Country Code | MA |
| Entity File Number | 001-06462 |
| Entity Tax Identification Number | 04-2272148 |
| Entity Address, Address Line One | 600 Riverpark Drive |
| Entity Address, City or Town | North Reading |
| Entity Address, State or Province | MA |
| Entity Address, Postal Zip Code | 01864 |
| City Area Code | (978) |
| Local Phone Number | 370-2700 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, par value $0.125 per share |
| Trading Symbol | TER |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |