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Subsequent Events
6 Months Ended
Jun. 30, 2019
Subsequent Events
W. SUBSEQUENT EVENTS
Gregory Beecher retired as Vice President and Senior Advisor of Teradyne effective 
July 17, 2019 (the “Retirement Date”).
As previously announced, Sanjay Mehta succeeded Mr. Beecher as Teradyne’s Chief Financial Officer effective April 25, 2019. 
In connection with the retirement, Teradyne entered into an agreement on
July 17, 2019
with Mr. Beecher (the “Retirement Agreement”). In the Retirement Agreement, Mr. Beecher agreed to be bound by non-competition and non-solicitation restrictions through January 31, 2023 (the “Non-Competition Period”). The Retirement Agreement also includes additional, standard terms and conditions relating to Mr. Beecher’s separation from Teradyne.
Under the Retirement Agreement, Mr. Beecher’s unvested time-based restricted stock units and stock options granted prior to 2019 will continue to vest in accordance with their terms; unvested time-based restricted stock units and stock options granted in 2019 prior to the Retirement Date will continue to vest during the Non-Competition Period in a pro-rated amount based on the number of days that Mr. Beecher was employed during 2019;
unvested, performance-based restricted stock units awarded prior to 2019 will continue to vest in accordance with their terms; unvested, performance-based restricted stock units awarded in 2019 will vest on the date the amount of shares underlying the performance-based restricted stock units are determined in a pro-rated amount of shares based on the number of days that Mr. Beecher was employed during the 365 calendar day period
following the grant date; vested options or options that vest during the Non-Competition Period may be exercised for the remainder of the applicable option term.
Teradyne will record a stock based compensation expense of approximately $2.5 million in the third quarter of 2019 related to the Retirement Agreement.