SAN DIEGO: Teradata Corporation (NYSE: TDC) today announced that the independent members of the Board of Directors have granted certain equity awards to its new Chief Financial Officer, John Ederer, and Chief Product Officer, Sumeet Arora, with such grants effective May 16, 2025 (the “Grant Date”). The awards were made pursuant to Teradata’s previously announced 2025 New Employee Stock Inducement Plan (“NESIP”) and as a material inducement to joining Teradata in their respective capacities.

The inducement awards granted to Mr. Ederer were for a new hire grant of service-based restricted share units (“RSUs”) (which vest as follows: 50% on the 6-month anniversary of the Grant Date, 33% on the second anniversary of the Grant Date, and 17% on the third anniversary of the Grant Date), an annual grant of service-based RSUs (which vest in equal annual installments on the first, second and third anniversaries of the Grant Date), and an annual grant of performance-based RSUs (which are subject to a three-year performance period commencing January 1, 2025 and achievement of the same performance goals applicable to other senior executives of Teradata) (the “Ederer Inducement Grants”). The aggregate number of shares of Teradata common stock, par value $0.01 per share (“Shares”), granted under the NESIP for the Ederer Inducement Grants was 410,959 Shares.

The inducement awards granted to Mr. Arora were for a new hire grant of service-based RSUs (which vest as follows: 17% on the 6-month anniversary of the Grant Date, 33% on the first anniversary of the Grant Date, 33% on the second anniversary of the Grant Date, and the remaining 17% on the third anniversary of the Grant Date), an annual grant of service-based RSUs (which vest in equal annual installments on the first, second and third anniversaries of the Grant Date), and an annual grant of performance-based RSUs (which are subject to a three-year performance period commencing January 1, 2025 and achievement of the same performance goals applicable to other senior executives of Teradata) (the “Arora Inducement Grants”). The aggregate number of Shares granted under the NESIP for the Arora Inducement Grants was 296,804 Shares.

The Ederer Inducement Grants and the Arora Inducement Grants are subject to accelerated vesting provisions provided in Teradata’s Executive Severance Plan, Change in Control Plan, and the NESIP. The Ederer Inducement Grants and the Arora Inducement Grants were all granted under the NESIP in reliance on the employment inducement exemption under the NYSE's Listed Company Manual Rule 303A.08, which requires public announcement of inducement awards. Pursuant to the requirements of that rule, Teradata is issuing this press release.

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Fonte: Business Wire