Teledyne's Amended Filing Reveals $170,000 Exit Payment For Vice Chairman Jason Van Wees
An 8-K/A filed Friday fills in the compensation terms Teledyne said were unfinished when it first disclosed Van Wees's retirement Monday.
Teledyne Technologies has now disclosed the full financial terms of Vice Chairman Jason Van Wees's planned retirement in an amended SEC filing submitted Friday — details the company said were not finalized when it first reported his departure Monday.
What The Amended Filing Says
The 8-K/A, signed by Executive Vice President and General Counsel Melanie S. Cibik and dated October 2, 2026, amends Teledyne's original 8-K filed Monday, which announced Van Wees's retirement as Vice Chairman effective February 1, 2027 but noted that compensation terms had not yet been set.
The amendment attaches the full Separation, Cooperation and General Release Agreement as an exhibit and discloses the specific payment and post-departure obligations that SEC rules require companies to report once terms are finalized.
Under the agreement, Van Wees will step down as Vice Chairman on February 1, 2027 and then serve as a strategic advisor to Executive Chairman Robert Mehrabian through May 3, 2027 — his formal separation date. During that advisory period, he will continue to draw his regular base salary and may use any remaining accrued vacation time. He is not required to report to a physical office during the advisory period, though he must remain available to answer questions and assist with the transition of his duties.
In exchange for accepting the agreement — including its non-solicitation and cooperation provisions — Teledyne will pay Van Wees a lump-sum cash payment of $170,000, less standard deductions and withholding, within 30 days of his May 3, 2027 separation date.
The Obligations That Come With The Payment
The separation agreement, signed by both parties on September 25, 2026, becomes effective October 3, 2026 after a seven-day revocation window. Van Wees's cooperation obligations extend beyond his separation date: through December 31, 2027, he must provide reasonable assistance to Teledyne and its affiliates on matters arising from his employment about which he has relevant knowledge — including regulatory inquiries, litigation support, and business transition assistance.
The agreement caps the cooperation burden at 20 hours per calendar quarter, the maximum Teledyne can require Van Wees to devote to such activities during that post-separation period.
The agreement also includes a general release of claims, non-disparagement provisions, and non-disclosure obligations. Van Wees must resign from all officer and director roles across Teledyne and its subsidiaries no later than February 1, 2027. The filing notes that Teledyne will notify U.S. government agencies that issued security clearances for company matters of Van Wees's retirement at age 55 and his departure from employment as of the separation date.
Market Reaction And What To Watch
TDY shares were flat at $617.17 in Friday after-hours trading, showing no immediate reaction to the amended disclosure, according to market data.
The next dated milestone is October 3, 2026, when the separation agreement becomes effective — provided Van Wees does not exercise his right to revoke his acceptance during the seven-day window. His formal resignation from all officer and director roles across Teledyne and its subsidiaries is due no later than February 1, 2027.
Van Wees's employment with Teledyne ends formally on May 3, 2027, which the agreement designates as both his separation date and his retirement date for purposes of the company's incentive and benefit plans.
