Teradata Reports Inducement Award Pursuant to NYSE Rule 303A.08

Rhea-AI Summary

Teradata Corporation (NYSE: TDC) announced the grant of an equity award to its new Chief Revenue Officer, Todd Cione, effective January 5, 2021. This award, part of the New Employee Stock Inducement Plan (NESIP), includes service-based restricted share units covering 308,506 shares. The vesting schedule is 25% after six months, 25% on the first anniversary, 30% on the second anniversary, and 20% on the third anniversary. The NESIP allows for equity compensation to induce employment without stockholder approval, conforming to NYSE regulations.

Positive

• Appointment of Todd Cione as Chief Revenue Officer, indicating a focus on leadership and revenue growth.
• Equity award of 308,506 shares under NESIP may align Cione's interests with shareholder value.

Negative

• None.

Teradata Corporation (NYSE: TDC) today announced that the Compensation and Human Resource Committee of the Board of Directors (the Committee) has granted an equity award to new Chief Revenue Officer, Todd Cione, effective January 5, 2021. The award was granted pursuant to the company’s previously-announced New Employee Stock Inducement Plan (NESIP) and as a material inducement to Mr. Cione joining Teradata as Chief Revenue Officer.

The award granted to Mr. Cione under the NESIP is a make-whole award consisting of service-based restricted share units covering 308,506 shares, which shall vest as follows: (i) 25% on the six month anniversary of the grant date, (ii) 25% on the first anniversary of the grant date, (iii) 30% on the second anniversary of the grant date, and (iv) the remaining 20% on the third anniversary of the grant date. Pursuant to the NESIP, the company may grant equity incentive compensation as a material inducement for certain individuals to commence employment with Teradata within the meaning of Rule 303A.08 of the NYSE Listed Company Manual, and, as such, the NESIP is not a stockholder-approved equity compensation plan. As an award under the NESIP, the restricted share units were granted by the Committee in reliance on the employment inducement exemption under Rule 303A.08. Teradata is issuing this press release pursuant to the requirements of that rule.

About Teradata

Teradata is the cloud data analytics platform company, built for a hybrid multi-cloud reality, solving the world’s most complex data challenges at scale. We help businesses unlock value by turning data into their greatest asset. See how at teradata.com.

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FAQ

What equity award has Teradata Corporation granted to Todd Cione?

Teradata granted Todd Cione an equity award of 308,506 service-based restricted share units.

When was the equity award to Todd Cione effective?

The equity award to Todd Cione became effective on January 5, 2021.

What is the vesting schedule for Todd Cione's equity award?

The vesting schedule is 25% after six months, 25% on the first anniversary, 30% on the second anniversary, and 20% on the third anniversary.

What is the New Employee Stock Inducement Plan (NESIP) at Teradata?

The NESIP allows Teradata to grant equity compensation as a material inducement for certain new employees.

Is the NESIP a stockholder-approved plan?

No, the NESIP is not a stockholder-approved equity compensation plan.