It's not specific to Teradata, it's the same (or at least should be the same) in all RDBMSes. Any comparison to a NULL results in UNKNOWN and NOT IN is an ANDed condition:
personid <> 1st_value_in_list AND personid <> 2nd_value_in_list AND ... AND personid <> NULL
This has been discussed multiple times, e.g. NOT IN clause and NULL values