01—Abstract
Summary
Summary of the 8-K/A filed May 5, 2025. Cited figures are marked; the original filing is the authoritative source.
Teledyne Technologies Incorporated (TDY) filed this amendment to its April 28, 2025 Current Report to disclose compensation arrangements that were not determined or available when the original report was filed.
The original report announced that Edwin Roks retired as Chief Executive Officer effective April 28, 2025. Under a Retirement, Severance and General Release Agreement dated April 30, 2025, Dr. Roks remains employed at current compensation through August 31, 2025 (the Separation Date) as strategic advisor to the Executive Chairman. Teledyne will pay him an aggregate cash severance of $1,800,000,a paid in equal installments of $100,000 over 18 months from September 1, 2025 through February 1, 2027.
He is also eligible for a prorated 2025 Annual Incentive Plan payment, to the extent one is payable. The agreement also includes continued health insurance contributions through December 31, 2026, followed by COBRA eligibility for eighteen months at his cost.
Teledyne will provide tax advisory and immigration-related assistance, reimburse up to $100,000 in outplacement services and up to $100,000b in relocation costs, and provide price protection on the sale of his primary California residence. The agreement includes a general release of claims, limited non-solicitation and non-disparagement provisions, and other customary terms.
02—Key points
Key Highlights
- Edwin Roks retired as Chief Executive Officer effective April 28, 2025, and entered a Retirement, Severance and General Release Agreement with Teledyne dated April 30, 2025.
- Dr. Roks remains employed at current compensation through the Separation Date of August 31, 2025, serving as strategic advisor to the Executive Chairman.
- Aggregate cash severance of $1,800,000 is payable in 18 installments of $100,000 from September 1, 2025 through February 1, 2027.
- He is eligible for a prorated 2025 Annual Incentive Plan payment, to the extent an AIP payment is payable for 2025.
- Teledyne will pay employer and employee health insurance contributions through December 31, 2026, then COBRA eligibility for eighteen months at his cost.
- Benefits include up to $100,000 in outplacement services, up to $100,000 in relocation costs, and price protection on the sale of his primary California residence.
- The filing amends the April 28, 2025 report to add compensation terms that were not determined or available at the time of the original filing.
03—Questions
Frequently Asked Questions
Why was this amended filing made?
The filing states that the amendment discloses compensation arrangements that were not determined or available when the original April 28, 2025 report was filed, namely the Retirement Agreement entered into on April 30, 2025.
What is the total cash severance Edwin Roks will receive?
The filing states an aggregate cash severance of $1,800,000, paid in equal installments of $100,000 over 18 months from September 1, 2025 through February 1, 2027, less standard deductions and withholding.
When does Dr. Roks's employment with Teledyne end?
He remains employed at current compensation through August 31, 2025, which the filing defines as the Separation Date, serving as strategic advisor to the Executive Chairman.
Will Dr. Roks receive a 2025 bonus?
He will be eligible for payment under the Annual Incentive Plan for 2025 on a prorated basis, based on his employment through the Separation Date, to the extent an AIP payment is payable for 2025.
What other post-employment benefits are included?
Benefits include health insurance contributions through December 31, 2026, COBRA eligibility for eighteen months thereafter at his cost, tax advisory and immigration assistance, up to $100,000 in outplacement services, up to $100,000 in relocation costs, and price protection on the sale of his primary California residence.
04—Continue