SAN DIEGO–(BUSINESS WIRE)–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.
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Christopher T. Lee