TEKTRONIX' 401(K) PLAN
TEKTRONIX' 401(K) PLAN WILSONVILLE, Ore., Oct. 12 /PRNewswire/ -- Tektronix Inc.
(NYSE: TEK) announced today that under the company's 401(K) Plan for employees it will, from time to time, be purchasing the company's common shares in the open market for use under the plan.
The 401(K) Plan was amended as of June 1 to include company contributions of common shares of up to 3 percent of base pay to match employee contributions, as well as common share contributions of 2 percent of base pay to the retirement fund. Although specific numbers will vary depending on employee contributions and the market price for the company's shares, the company anticipates that purchases could be up to 24,000 shares every two weeks at current market rates. These shares will be allocated to employee accounts under the plan. Purchases will be made for the plan by the plan trustee. "We are very pleased that under our new compensation program all employees are now shareholders of the corporation," said Tim Thorsteinson, vice president of Human Resources. Tektronix Inc. is a leading supplier of electronic products and systems. Revenues for fiscal year 1992 totaled $1.3 billion. -0- 10/12/92 /CONTACT: Editorial: Jim Bloom of Tektronix, 503-685-4024; or Investor Relations: Joele Frank, 212-880-5265, or Andrea Priest, 212-880-5272, both of Ogilvy, Adams & Rinehart, for Tektronix/ (TEK) CO: Tektronix Inc. ST: Oregon IN: CPR SU:
SC-LM -- SE008 -- 8976 10/12/92 16:56 EDT
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|Date:||Oct 12, 1992|
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