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|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.
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.
|Dated: June 7, 2022||By:|
|Name:||Charles J. Gray|
|Title:||V.P., General Counsel and Secretary|