Form 4: TTM Tech Exec Schedules Future Stock Sale for Tax

TTM Technologies EVP Douglas Soder has scheduled the sale of 20,297 shares of common stock for February 13, 2026, to cover tax obligations from vested performance restricted stock units.

Summary

• Douglas L. Soder, Executive Vice President and Commercial Sector President of TTM Technologies Inc. (TTMI), reported a planned transaction.
• On February 13, 2026, Soder is scheduled to dispose of 20,297 shares of TTM Technologies Common Stock.
• The shares are planned to be sold at a price of $93.1158 per share.
• This sale is intended to satisfy tax liabilities incident to the vesting of Performance Restricted Stock Units (RSUs).
• Following this scheduled transaction, Soder will beneficially own 217,147 shares of Common Stock.
• The transaction is being made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral event, as the scheduled sale is a standard 'sell-to-cover' for tax purposes related to RSU vesting, rather than a discretionary sale indicating a change in sentiment.

Positives

• The transaction is a 'sell-to-cover' for tax liability, which is a common and often pre-planned event for executives receiving equity compensation, not necessarily indicative of a negative outlook on the company.
• The transaction is executed under a Rule 10b5-1(c) plan, suggesting it was pre-scheduled and not based on new material non-public information.

Negatives

• A significant number of shares (20,297) are scheduled to be sold by a key executive, which will reduce their direct ownership.

Future Outlook

The filing does not provide any specific future outlook or guidance for the company, as it is solely a report of an insider's planned stock transaction.

Industry Context

StockSavvy.ai notes that 'sell-to-cover' transactions for tax obligations related to RSU vesting are a routine occurrence in executive compensation across various industries, particularly in technology and manufacturing sectors like TTM Technologies. These sales are generally not interpreted as a signal of management's lack of confidence in the company's future prospects, especially when executed under a Rule 10b5-1 plan.

Comparison to Industry Standards

• Sell-to-cover transactions are standard practice for executives receiving equity compensation. For example, executives at companies like Flex Ltd. (FLEX) or Sanmina Corporation (SANM), which operate in similar electronics manufacturing services, frequently execute similar transactions upon RSU vesting.
• The volume of shares scheduled for sale (20,297) relative to the executive's remaining holdings (217,147) indicates a partial liquidation for tax purposes rather than a full divestment, aligning with typical industry patterns for such transactions.

Stakeholder Impact

• Shareholders: Minimal direct impact, as it's a routine tax-related sale. Could be perceived as a slight negative due to reduced insider ownership, but generally understood as a non-discretionary event.
• Employees: No direct impact.

Key Dates

Recommendation

The transaction is a routine 'sell-to-cover' for tax obligations related to vested equity, which is a common occurrence for executives. It does not signal a change in the company's fundamentals or the executive's long-term confidence, thus a 'hold' recommendation is appropriate as this event alone does not warrant a change in investment thesis.

Keywords

TTM Technologies, TTMI, Insider Trading, Form 4, Stock Sale, Executive Compensation, Restricted Stock Units, Tax Liability, Douglas Soder, 10b5-1 Plan