The new cost cutter is getting an inducement award to board the sinking ship.
The awards were made pursuant to Teradata’s previously announced 2025 New Employee Stock Inducement Plan (“NESIP”) and as a material inducement to Mr. Rogers joining Teradata as Chief Administrative Officer.
The inducement awards granted to Mr. Rogers were for a new hire grant of service-based restricted share units (“RSUs”) (which vest in equal annual installments on the first, second and third anniversaries 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 “Inducement Grants”). The aggregate number of shares of Teradata common stock, par value $0.01 per share (“Shares”), granted under the NESIP for the Inducement Grants was 229,316 Shares.
$5.079 million. Be sure to wish him well as you collect your severance and are escorted out the door.