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TER > SEC Filings for TER > Form 8-K on 16-Jul-2014All Recent SEC Filings

Show all filings for TERADYNE, INC

Form 8-K for TERADYNE, INC


Change in Directors or Principal Officers

Item 5.02(d). Departure of Directors or Certain Offices; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 14, 2014, the Board of Directors (the "Board") of Teradyne, Inc. ("Teradyne") elected Mercedes Johnson as a director of Teradyne and appointed her to the Board's Audit Committee.

The Board has determined that Ms. Johnson is independent. To be considered independent by the Board, a director must satisfy the definitions pursuant to the Securities Exchange Commission and New York Stock Exchange rules, meet the standards regarding director independence adopted by Teradyne, and, in the Board's judgment, not have a material relationship with Teradyne. Teradyne's standards for determining independence are available on Teradyne's web site at under the "Corporate Governance" section of the "Investors" link.

Ms. Johnson will receive compensation at the rate of $70,000 per year.

On July 14, 2014, Ms. Johnson received a grant of restricted stock units pursuant to Teradyne's 2006 Equity and Cash Compensation Incentive Plan in the amount of 6,203 shares having a fair market value equal to $124,050 based on the Board's annual equity compensation of $150,000 prorated daily to reflect the period from her date of appointment to the expected date of the 2015 Annual Meeting of Shareholders. This grant vests in full on the earlier of the date the 2015 Annual Meeting of Shareholders is held or the last Thursday in May 2015.

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