VanWees Jason 4

What Happened

• Jason VanWees, Vice Chairman of Teledyne Technologies (TDY), exercised/converted derivatives for a total of 241 shares (121 acquired, 120 converted) on 2026-01-23. Following those events and related vesting, 394 shares were surrendered/withheld (184 disposition to issuer on 1/24; 160 and 50 shares withheld on 1/24 and 1/23) to cover tax liabilities and forfeitures. All transactions report $0 cash consideration on the Form 4 (shares were withheld/surrendered rather than sold for cash).

Key Details

• Transaction dates: 2026-01-23 (exercises/conversions and 50-share withholding); 2026-01-24 (184-share disposition to issuer and 160-share withholding).
• Transaction types: M = exercise/conversion of derivative (241 shares total); F = shares withheld to satisfy tax liabilities; D = disposition to issuer (forfeiture).
• Prices and reported value: all entries report $0.00 per share / $0 total (reflecting withholding/forfeiture rather than cash sales).
• Shares owned after transaction: reporting-person-held shares include 3,153.7820 equivalent shares in the Teledyne 401(k) and 549.0546 shares from the ESPP (3,702.8366 total); does not include 3,672 Restricted Stock Units. Reporting person’s spouse holds 2,643.6986 shares (reporting person disclaims beneficial ownership).
• Notable footnotes: F1 = forfeited shares upon vesting of the 2023–2025 Restricted Stock award program; F2 = automatic withholding for taxes. The filing indicates it was late (timeliness flag 'L').

Context

• These were not open-market purchases or voluntary sales; the activity reflects exercising/converting derivative awards and then surrendering/withholding shares to satisfy taxes and forfeiture obligations (a common, routine post-vesting/cashless settlement practice). No cash proceeds were reported, so this does not signal an open-market sale for liquidity.