Teradata Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Teradata Corporation on May 5, 2025. The filing discloses the appointment of a new Chief Financial Officer (CFO) and details the associated compensatory arrangements.
Key Financial Metrics
The filing does not contain operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and personnel changes.
Material Changes
On May 5, 2025, the Board of Directors elected John Ederer as Chief Financial Officer and principal accounting officer, effective May 12, 2025. Concurrently, Charles Smotherman will step down from his role as interim CFO and return to his previous position as Senior Vice President, Chief Accounting Officer.
Compensation and Management Commentary
Mr. Ederer's compensation package includes the following components:
- Base Salary: $530,000 annually.
- Target Bonus: 100% of base salary (pro-rated for 2025).
- Legal Review Allowance: Up to $10,000.
- Equity Awards (Target Value):
- $4,500,000 in new hire service-based Restricted Share Units (RSUs) vesting over three years (50% at 6 months, 33% at 2 years, 17% at 3 years).
- $2,250,000 in annual service-based RSUs vesting in equal annual installments over three years.
- $2,250,000 in annual performance-based RSUs subject to a three-year performance period commencing January 1, 2025.
- Benefits: Eligibility for standard executive benefit plans, including the Executive Severance Plan and change in control severance plan.
Mr. Ederer brings over 15 years of finance leadership experience, most recently serving as CFO of Model N, Inc. since January 2021.
Investor Verification Checklist
- Verify the effective date of John Ederer's appointment (May 12, 2025) and the transition of Charles Smotherman.
- Review the vesting schedules and performance conditions attached to the $9,000,000 total target equity value.
- Confirm the pro-rated nature of the 2025 target bonus opportunity.
- Check for any subsequent filings regarding the execution of the employment agreement referenced in the press release.