John Lukez
TERADYNEAbout John Lukez
John Lukez is 50 and serves as President of LitePoint Corporation (Teradyne’s Wireless Test business) since February 2024, after leading LitePoint’s Applications organization since 2008 . He is an executive officer of Teradyne; detailed individual compensation for non-NEOs like Lukez is not disclosed in the proxy . Company performance context during his tenure: Teradyne delivered 2024 revenue of $2.82B, GAAP EPS of $3.32, non-GAAP EPS of $3.22, and free cash flow of $474M, with management emphasizing pay-for-performance alignment using PBIT, revenue growth, and operational “Vital Goals” metrics .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenue ($USD Billions) | $2.70 | $2.82 |
| GAAP EPS ($) | $2.73 | $3.32 |
| Non-GAAP EPS ($) | $2.93 | $3.22 |
| Free Cash Flow ($USD Millions) | $425 | $474 |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LitePoint (Teradyne) | Vice President of Applications | 2008–2024 | Not disclosed |
| LitePoint (Teradyne) | President | Feb 2024–present | Not disclosed |
Fixed Compensation
Not disclosed for John Lukez (not a named executive officer in the proxy) .
Performance Compensation
Teradyne funds annual variable cash incentives using company financials and divisional “Vital Goals.” For 2024, the framework included two-year rolling revenue growth, non-GAAP PBIT, Vital Goals, and gender representation; NEO payouts ranged from 58%–101% of target depending on business unit results; Lukez’s specific targets/payouts were not disclosed .
| Metric (Company-wide VC framework) | Threshold | Target | Maximum | Actual | Weighting | Result |
|---|---|---|---|---|---|---|
| Two-year Rolling Revenue Growth (%) | -6 | 7 | 19 | -5.70 | 29.25% | 3% |
| PBIT Rate (%) (non-GAAP) | 11 | 21 | 39 | 20.4 | 19.5% | 95% |
| Vital Goals (objective divisional metrics) | N/A | N/A | N/A | N/A | 48.75% | 136% |
| Gender Representation (U.S./Global) | N/A | 24.8% / 19.1% | N/A | 24.9% / 21.0% | 2.5% | 200% |
Long-term equity incentives vest on three-year performance cycles split 50/50 between relative TSR vs NYSE Composite (NYA) and cumulative PBIT; 2022 PSU grant paid at 50% of target (0% TSR, 100% PBIT) .
| PSU Cycle | Metric | Threshold | Target | Max | Actual | Payout |
|---|---|---|---|---|---|---|
| 2022–2024 | Relative TSR vs NYA | — | — | — | -39.6 pts vs NYA | 0% |
| 2022–2024 | 3-yr PBIT Rate | 10% | 23% | 34% | 23.0% | 100% |
| Combined | TSR + PBIT | — | — | — | — | 50% |
Equity Ownership & Alignment
- Beneficial ownership: proxy footnote indicates Lukez had 1,626 shares counted within 60 days (options exercisable and/or RSUs vesting), but a full line item of his total beneficial ownership is not listed; percent of shares outstanding not disclosed .
- Stock ownership guidelines: other executive officers must hold at least 2× base salary in stock within 5 years; CEO/CFO/President, Semi Test increased to 6×/3× beginning 2025; compliance excludes unvested RSUs and unexercised options; individual compliance status for Lukez is not disclosed .
- Hedging/pledging: prohibited for all employees and directors; holding in margin accounts and pledging as collateral is prohibited .
- 10b5-1 trading plans: all executive officers and directors must use approved Rule 10b5-1 plans; trading during blackout windows is restricted .
| Item | Detail |
|---|---|
| Shares issuable within 60 days (options exercisable or RSUs vesting) | 1,626 |
| Ownership guideline (other executive officers) | 2× base salary, 5 years to comply |
| Hedging/pledging | Prohibited |
| Trading plans | Rule 10b5-1 plan required for executives/directors |
Employment Terms
- Role start: appointed President, LitePoint in Feb 2024 .
- Change-in-control/severance: company discloses double-trigger change-in-control agreements and severance specifics for NEOs; Lukez’s individual agreement is not disclosed .
- Executive retirement policy: continued vesting terms for NEOs (age/service conditions) were adopted in Jan 2024; applicability to Lukez is not specified in the proxy .
Investment Implications
- Incentive alignment: Lukez’s pay is likely equity-heavy with standard time-based RSUs (4-year) and options (4-year) plus PSUs (3-year cliff) used across executive ranks, aligning with long-term PBIT and TSR; his specific grant mix/values are not disclosed .
- Selling pressure: scheduled PSU determinations in Jan 2026 and Jan 2027 and annual RSU/option vesting can create predictable supply; Rule 10b5-1 plans and anti-hedging/pledging policies reduce discretionary or leveraged selling risks .
- Cash incentive sensitivity: Wireless Test is excluded from the company-wide 10% GAAP pre-tax profit sharing pool, suggesting divisional-specific plans drive cash incentives; this can increase variability tied to LitePoint’s execution vs company averages .
- Retention risk: multi-year vesting and company-wide clawback/ownership policies support retention and alignment; absence of disclosed individual severance/change-in-control terms for Lukez limits visibility into his protection and potential exit economics .
- Governance backdrop: say-on-pay support (~89% in 2024) and strong compensation governance (double-trigger CIC, no tax gross-ups, no repricing) reduce headline risk around pay practices .