Item 4. Controls and Procedures
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Item 4. Controls and Procedures
Our disclosure controls and procedures are designed to ensure that information required to be disclosed in reports that we file or submit under the Securities Exchange Act of 1934, are recorded, processed, summarized and reported within the time periods specified in the rules and forms of the Securities and Exchange Commission and to provide reasonable assurance that information required to be disclosed by us in such reports is accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure. Our Chief Executive Officer and our Senior Vice President and Chief Financial Officer, with the participation and assistance of other members of management, have reviewed the effectiveness of our disclosure controls and procedures and have concluded that the disclosure controls and procedures, as of June 30, 2024, are effective at the reasonable assurance level.
In connection with our evaluation during the quarterly period ended June 30, 2024, we have made no changes in our internal controls over financial reporting that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting.
PART II OTHER INFORMATION
Item 1. Legal Proceedings
See Item 1 of Part 1, “Financial Statements -- Note 14 -- Commitments and Contingencies.”
| Item 1A. | Risk Factors |
There are no material changes to the risk factors previously disclosed in our 2023 Form 10-K in response to Item 1A to Part 1 of Form 10-K. See also Part I Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations for additional information regarding supply chain and foreign currency exchange rate risks.
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
On April 23, 2024, the Company’s Board of Directors authorized a new stock repurchase program to repurchase up to $1.25 billion of the Company’s common stock. The authorized stock repurchase program does not have a stated expiration date. The following table sets forth the shares repurchased during each fiscal month during the second quarter of 2024.
| Fiscal Month 2024 | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of publicly announced plans or programs | Maximum dollar value of shares that may yet be purchased under the plans or programs (in Millions) | ||||||||||||||||||||||
| April 1 - May 5 | 63,707 | $ | 382.39 | 63,707 | $ | 1,225.6 | ||||||||||||||||||||
| May 6 - June 2 | 219,019 | $ | 396.53 | 219,019 | $ | 1,138.8 | ||||||||||||||||||||
| June 3 - June 30 | 211,687 | $ | 390.02 | 211,687 | $ | 1,056.2 | ||||||||||||||||||||
| Total | 494,413 | $ | 391.92 | 494,413 | ||||||||||||||||||||||
| Item 5. | Other Information |
Director and Officer Trading Arrangements
None of the Company’s directors or officers adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the Company’s fiscal quarter ended June 30, 2024.
| Item 6. | Exhibits |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| TELEDYNE TECHNOLOGIES INCORPORATED | |||||||||||
| DATE: July 26, 2024 | By: | /s/ Stephen F. Blackwood | |||||||||
| Stephen F. Blackwood, Senior Vice President and | |||||||||||
| Chief Financial Officer | |||||||||||
| (Principal Financial Officer and Authorized Officer) | |||||||||||
Teledyne Technologies Incorporated
Index to Exhibits
Previous: Item 3. Quantitative and Qualitative Disclosures About Market Risk