TERADATA CORP /DE/0000816761false00008167612025-02-212025-02-21

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
__________________
 
FORM 8-K
__________________
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 
Date of Report (date of earliest event reported): February 21, 2025
 

 
TERADATA CORPORATION
(Exact name of registrant as specified in its charter)

Commission File Number 001-33458
 
Delaware75-3236470
(State or other jurisdiction of
incorporation or organization)		(I.R.S. Employer
Identification No.)
 
17095 Via Del Campo
San Diego, California 92127

(Address of principal executive offices and zip code)
 
Registrant’s telephone number, including area code: (866) 548-8348
 
N/A
(Former name or former address, if changed since last report)
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $0.01 par valueTDCNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐


Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) On February 21, 2025, the Board of Directors of Teradata Corporation (the “Company”) elected Michael Hutchinson, currently the Company’s Chief Customer Officer, to serve in the newly created role of Chief Operating Officer of the Company, effective as of February 24, 2025 (the “Effective Date”). As Chief Operating Officer of the Company, Mr. Hutchinson will be the Company’s principal operating officer. Mr. Hutchinson, age 59, has served as the Company’s Chief Customer Officer since January 2022. Mr. Hutchinson’s biographical information prior to his appointment as Chief Operating Officer, as set forth in the Company’s 2024 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 21, 2025, is incorporated herein by reference.

Mr. Hutchinson participates in compensation and benefit arrangements available to other executive officers of the Company, all of which are described in the Company’s Proxy Statement for the 2024 Annual Meeting of Stockholders filed with the SEC on March 26, 2024. As of the Effective Date, Mr. Hutchinson will be entitled to receive: (i) an annual base salary of $458,300 (the “Base Salary”), (ii) an annual cash incentive target opportunity of 100% of Base Salary under the Company’s 2025 Management Incentive Plan, and (iii) an annual grant of long-term equity awards consistent with such awards received by other executive officers of the Company of (a) service-based restricted stock units (the “RSUs”) with a target value of $2,250,000 and that vest in equal annual installments on the first, second and third anniversaries of the grant date of March 3, 2025 and (b) performance-based RSUs with a target value of $2,250,000, subject to a three-year performance period commencing January 1, 2025 and achievement of the same performance goals applicable to other executive officers of the Company. Mr. Hutchinson will continue to be a participant in the Company’s Change in Control Severance Plan and as a Level I participant in the Executive Severance Plan (the “ESP”). The payment of any such severance under the ESP is subject to Mr. Hutchinson’s execution and non-revocation of a release of claims.

There are no family relationships between Mr. Hutchinson and any director or executive officer of the Company, and no arrangements or understandings between Mr. Hutchinson and any other person pursuant to which he was designated to serve as Chief Operating Officer. Mr. Hutchinson is not a party to any current or proposed transaction with the Company for which disclosure is required under Item 404(a) of Regulation S-K. 

On February 26, 2025, the Company issued a press release announcing the appointment of Mr. Hutchinson as Chief Operating Officer. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

(e) The information in Item 5.02(c) is incorporated herein by reference.
Item 9.01        Financial Statements and Exhibits.
(d)    Exhibits:
The following exhibits are attached with this current report on Form 8-K:
Exhibit No.Description
104
Cover Page Interactive Data (embedded within the Inline XBRL document).




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.
 
TERADATA CORPORATION
Date: February 26, 2025By:/s/ Margaret A. Treese
Margaret A. Treese
Chief Legal Officer and Secretary






Exhibit 99.1
imagea.jpg


MEDIA CONTACT
January Machold
january.machold@teradata.com
                
Teradata Appoints Michael Hutchinson as Chief Operating Officer

SAN DIEGO – February 26, 2025 – Teradata Corporation (NYSE: TDC) today announced that Michael Hutchinson, Chief Customer Officer, has been appointed to Chief Operating Officer. In this role, Hutchinson will be responsible for Teradata’s global operations – including information technology, information security, as well as strategy and operations, and will maintain leadership of Teradata Global Customer Services. He will guide the organization in ensuring execution of the Company’s strategy. Hutchinson will continue to report to Steve McMillan, President and Chief Executive Officer, Teradata.

In his role as Chief Customer Officer of Teradata since January 2022, Hutchinson has successfully led the Company’s business unit that is chartered to drive optimal customer experiences and maximize customer value. Hutchinson joined Teradata in June 2021 as Senior Vice President of Worldwide Customer Success, Consulting and Renewals, and demonstrated proven success in defining the company’s global customer success strategy, maximizing customer value, and yielding world-class customer Net Promoter Score, retention, and use-case expansion. Over a distinguished career prior to Teradata, Hutchinson served as SVP & Chief Customer Officer at Verint and served at Oracle for nearly 30 years in numerous roles of increasing responsibility, culminating in Global Vice President, North America Customer Success.

“Mike has proven to be an outstanding leader, doubling down on our customer-first commitment and embodying a steadfast dedication to deliver outstanding customer outcomes and operational excellence,” said Steve McMillan, President and CEO of Teradata. “I am confident he is the right person to lead Teradata’s global operations as he brings a wealth of experience in operational execution and a strategic vision that aligns perfectly with our goal to deliver Trusted AI to customers.”

“I’m thrilled to take on this new role at Teradata as we continue to execute our strategy as the hybrid Trusted AI platform at scale,” said Hutchinson. “I look forward to working with these teams in driving continuous improvements and ensuring our customers can achieve game-changing insights and breakthrough outcomes from their data."

About Teradata
At Teradata, we believe that people thrive when empowered with trusted information. We offer the most complete cloud analytics and data platform for AI. By delivering harmonized data and trusted AI, we enable more confident decision-making, unlock faster innovation, and drive the impactful business results organizations need most. See how at Teradata.com.


# # #

The Teradata logo is a trademark, and Teradata is a registered trademark of Teradata Corporation and/or its affiliates in the U.S. and worldwide.



v3.25.0.1
Document and Entity Information Document
Feb. 21, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 21, 2025
Entity Registrant Name TERADATA CORP /DE/
Entity File Number 001-33458
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 75-3236470
Entity Address, Address Line One 17095 Via Del Campo
Entity Address, City or Town San Diego
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92127
City Area Code 866
Local Phone Number 548-8348
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol TDC
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0000816761
Amendment Flag false
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