Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
On March 24, 2023, the Board of Directors (the "Board") of Teradyne, Inc. (the
"Company") approved the Company's Amended and Restated Bylaws (as so amended and
restated, the "Amended Bylaws"), effective as of such date. Among other matters,
the Amended Bylaws update certain procedural requirements related to director
nominations by stockholders in light of the recently adopted "universal proxy"
rules of the U.S. Securities and Exchange Commission (the "SEC") and reflect
certain other administrative changes due to the adoption of the "universal
proxy" rules.
With respect to stockholder nominees to the Company's Board, the Amended Bylaws
provide, among other things, that (i) stockholders must give advance notice to
the Company of its nominee not less than 60 nor more than 90 days prior to the
meeting of stockholders at which directors will be elected in order for the
nominee to be considered for election at the meeting, (ii) stockholders must
comply with the SEC's newly adopted Rule 14a-19 under the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), (iii) stockholders must include in
an advance notice of such nomination a representation as to whether the
stockholder intends to deliver a proxy statement and form of proxy to holders of
the Company's voting shares and solicit proxies or votes in support of its
nominee(s) in accordance with Rule 14a-19 under the Exchange Act,
(iv) stockholders must provide prompt notice to the Company if such stockholder
fails to comply with the requirements of Rule 14a-19(a)(2) and
Rule 14a-19(a)(3) under the Exchange Act after providing notice of a such
stockholder's intent to solicit proxies pursuant to Rule 14a-19 under
the Exchange Act, (v) stockholders must use a proxy card color other than white,
and (iv) stockholders are not entitled to make additional or substitute
nominations after the nomination deadline.
The foregoing summary description of the Amended By-Laws is qualified in its
entirety by reference to the complete text of the Amended Bylaws, a copy of
which is included as Exhibit 3.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
3.1 Amended and Restated By-Laws of Teradyne, Inc.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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