Filing Details
- Accession Number:
- 0001415889-25-008727
- Form Type:
- 13D Filing
- Publication Date:
- 2025-03-20 20:00:00
- Filed By:
- Lynrock Lake
- Company:
- Teradata Corp (NYSE:TDC)
- Filing Date:
- 2025-03-21
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
Lynrock Lake LP | 9,416,666 | 0 | 9,416,666 | 0 | 9,416,666 | 9.9% |
Lynrock Lake Partners LLC | 9,416,666 | 0 | 9,416,666 | 0 | 9,416,666 | 9.9% |
Cynthia Paul | 9,416,666 | 0 | 9,416,666 | 0 | 9,416,666 | 9.9% |
Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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Teradata Corp (Name of Issuer) |
Common Stock, par value $0.01 per share (Title of Class of Securities) |
88076W103 (CUSIP Number) |
Cynthia Paul Lynrock Lake LP, 2 International Drive, Suite 130 Rye Brook, NY, 10573 914-449-4660 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
03/14/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.


The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
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CUSIP No. | 88076W103 |
1 |
Name of reporting person
Lynrock Lake LP | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
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3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
AF | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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6 | Citizenship or place of organization
DELAWARE
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Number of Shares Beneficially Owned by Each Reporting Person With: |
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11 | Aggregate amount beneficially owned by each reporting person
9,416,666.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
9.9 % | ||||||||
14 | Type of Reporting Person (See Instructions)
IA, PN |
SCHEDULE 13D
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CUSIP No. | 88076W103 |
1 |
Name of reporting person
Lynrock Lake Partners LLC | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
AF | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
DELAWARE
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
9,416,666.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
9.9 % | ||||||||
14 | Type of Reporting Person (See Instructions)
HC, OO |
SCHEDULE 13D
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CUSIP No. | 88076W103 |
1 |
Name of reporting person
Cynthia Paul | ||||||||
2 | Check the appropriate box if a member of a Group (See Instructions)
![]() ![]() | ||||||||
3 | SEC use only | ||||||||
4 |
Source of funds (See Instructions)
AF | ||||||||
5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
6 | Citizenship or place of organization
UNITED STATES
| ||||||||
Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
11 | Aggregate amount beneficially owned by each reporting person
9,416,666.00 | ||||||||
12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
13 | Percent of class represented by amount in Row (11)
9.9 % | ||||||||
14 | Type of Reporting Person (See Instructions)
HC, IN |
SCHEDULE 13D
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Item 1. | Security and Issuer |
(a) | Title of Class of Securities:
Common Stock, par value $0.01 per share |
(b) | Name of Issuer:
Teradata Corp |
(c) | Address of Issuer's Principal Executive Offices:
17095 Via Del Campo , San Diego,
CALIFORNIA
, 92127 . |
Item 2. | Identity and Background |
(a) | This Schedule 13D is filed by Lynrock Lake LP (the "Investment Manager"), Lynrock Lake Partners LLC (the "General Partner") and Cynthia Paul ("Ms. Paul" and, with the Investment Manager and the General Partner, collectively, the "Reporting Persons"). The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13D. |
(b) | The principal business office of the Reporting Persons is 2 International Drive, Suite 130, Rye Brook, NY 10573. |
(c) | The principal business of the Reporting Persons is investment management. Ms. Paul serves as the Sole Member of the General Partner, which is the general partner of the Investment Manager. |
(d) | During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). |
(e) | During the last five years, none of the Reporting Persons was a party to a civil proceeding of a judicial of administrative body of competent jurisdiction or were subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. |
(f) | Each of the Investment Manager and General Partner was organized in the state of Delaware, and Ms. Paul is a citizen of the United States. |
Item 3. | Source and Amount of Funds or Other Consideration |
All of the shares of Common Stock reported herein were purchased by Lynrock Fund between May 30, 2019 and March 6, 2025. The source of the capital to purchase such securities was Lynrock Fund's working capital, consisting of contributions from its general and limited partners (and which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 9,416,666 shares of Common Stock reported herein is approximately $255,755,996, excluding brokerage commissions. | |
Item 4. | Purpose of Transaction |
The Reporting Persons acquired beneficial ownership of the Common Stock reported herein for investment purposes, and such acquisitions were made in the Reporting Persons' ordinary course of business. The Reporting Persons filed an initial Schedule 13G on February 14, 2023, which filing was amended on February 14, 2024 and November 14, 2024 (as amended, the "Schedule 13G"). The Reporting Persons are filing this Schedule 13D to supersede the Schedule 13G.
On March 14, 2025, Ms. Paul held an introductory call with the chairperson of the Issuer's board of directors (the "Board"). During the conversation, Ms. Paul shared her perspective that the Issuer's stock was significantly undervalued relative to the Issuer's strategic asset value. The two parties discussed the Issuer's business strategy, Board composition, and potential paths to enhancing shareholder value. Ms. Paul expressed her belief that the Issuer should prioritize driving improved gross retention rates, expansion within the installed base, and higher free cash flow. Ms. Paul also stated her view that the Issuer would benefit from the addition of a shareholder representative to the Board and that the Issuer should establish an executive committee, a subset of the Board which would include the shareholder representative, to provide strategic guidance to the Issuer's leadership team with a focus on increasing free cash flow, growing total ARR, and evaluating potential strategic alternatives to maximize shareholder value. On March 15, 2025, Ms. Paul spoke with the Issuer's Chief Executive Officer regarding the Issuer's business strategy, Board composition, and the importance of hiring a Chief Financial Officer with experience driving operational efficiencies and sustainable free cash flow growth.
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons may, in their sole discretion, depending on market conditions, an evaluation of the business and the prospects of the Issuer and other factors, purchase additional Common Stock, or other securities convertible into or exchangeable for Common Stock, or dispose of Common Stock or other securities convertible into or exchangeable for Common Stock, from time to time in the open market, in privately negotiated transactions or otherwise, subject to market conditions and other factors. The Reporting Persons also may engage in further conversations with the Board and/or management regarding a range of issues, including those relating to the business and strategy of the Issuer, management, corporate governance, operations, investor communications, capital allocation, capital structure, mergers and acquisitions strategy, and executive compensation. The Reporting Persons also may have conversations with other interested parties, including industry analysts, other shareholders, existing or potential strategic partners or competitors, and other professionals.
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Item 5. | Interest in Securities of the Issuer |
(a) | Rows 11 and 13 of each Reporting Person's cover page to this Schedule 13D set forth the aggregate number of shares of Common Stock and percentages of the shares of Common Stock beneficially owned by such Reporting Person and are incorporated by reference. The percentage set forth in each row 13 is based upon 94.6 million shares of the Issuer's Common Stock outstanding as of January 31, 2025, as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 21, 2025.
The Reporting Persons' ownership of the Issuer's securities consists of 9,416,666 shares of Common Stock held directly by Lynrock Lake Master Fund LP ("Lynrock Fund"). The Investment Manager is the investment manager of Lynrock Fund, and pursuant to an investment management agreement, the Investment Manager has been delegated full voting and investment power over securities of the Issuer held by Lynrock Fund. Ms. Paul, the Chief Investment Officer of the Investment Manager and Sole Member of the General Partner, the general partner of the Investment Manager, may be deemed to exercise voting and investment power over securities of the Issuer held by Lynrock Fund. |
(b) | Rows 7 through 10 of each Reporting Person's cover page to this Schedule 13D set forth the number of shares of Common Stock as to which such Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition and are incorporated by reference. |
(c) | Except as set forth below, the Reporting Persons have not effected any transactions in the Common Stock during the past sixty days:
Amount of
Securities Average Date of
Nature of the Transaction Purchased Price ($) Purchase
Open Market Purchase of Common Stock 185,541 $24.69 02/12/25
Open Market Purchase of Common Stock 84,606 $24.66 02/13/25
Open Market Purchase of Common Stock 62,147 $24.57 02/14/25
Open Market Purchase of Common Stock 109,394 $24.58 02/18/25
Open Market Purchase of Common Stock 180,632 $24.50 02/19/25
Open Market Purchase of Common Stock 100,000 $24.14 02/20/25
Open Market Purchase of Common Stock 100,000 $23.43 02/21/25
Open Market Purchase of Common Stock 48,033 $23.43 02/24/25
Open Market Purchase of Common Stock 76,960 $24.16 02/25/25
Open Market Purchase of Common Stock 275,007 $24.04 02/26/25
Open Market Purchase of Common Stock 200,000 $23.61 02/27/25
Open Market Purchase of Common Stock 200,267 $23.41 02/28/25
Open Market Purchase of Common Stock 568,484 $23.34 03/03/25
Open Market Purchase of Common Stock 307,010 $23.22 03/04/25
Open Market Purchase of Common Stock 28,889 $23.15 03/05/25
Open Market Purchase of Common Stock 45,350 $23.32 03/06/25
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(d) | Certain feeder funds that invest in Lynrock Fund may have the right to receive dividends from, and proceeds from the sale of, the Common Stock directly held by Lynrock Fund. |
(e) | Not applicable. |
Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer |
Not applicable | |
Item 7. | Material to be Filed as Exhibits. |
99.1. Joint Filing Agreement as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended. |
SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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