Stock-Based Compensation

3 Months Ended

Mar. 30, 2025

Share-Based Payment Arrangement [Abstract]

Teledyne has long-term incentive plans pursuant to which it has granted non-qualified stock options, restricted stock awards and restricted stock units. The Company also has non-employee director stock compensation plans pursuant to which common stock, stock options and restricted stock units have been issued to its directors. The Company issues shares of common stock upon the exercise of stock options. The Company uses the Black–Scholes option pricing model to determine the fair value of stock options.

Stock-based compensation expense was $8.9 million and $12.0 million for the first quarter of 2025 and 2024, respectively.

Stock option activity for the first quarter of 2025 is as follows:


	Shares	Weighted Average Exercise Price
Beginning balance	1,135,749	$	278.34

Exercised	(137,124)	$	215.36
Canceled	(749)	$	405.53
Ending balance	997,876	$	286.90
Exercisable at end of period	916,486	$	276.56

On April 22, 2025, the Company granted approximately 63,000 stock options at an exercise price of $461.10 per share and a grant date fair value of $179.30 per share.

Restricted stock activity for the first quarter of 2025 is as follows:


	Shares	Weighted Average Fair Value per Share
Beginning balance	160,344	$	398.79
Granted	19,188	$	442.76
Vested	(37,287)	$	409.82
Forfeited/canceled	(5,428)	$	379.91
Ending balance	136,817	$	402.70

On April 22, 2025, the Company granted approximately 71,000 time-based restricted stock units with a grant date fair value of $461.10 per share.