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.
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