Form 4: TTM Technologies CEO Sells Shares to Cover RSU Tax Liability

TTM Technologies Inc.'s President and CEO, Thomas T. Edman, sold 25,340 shares of common stock on June 23, 2025, to satisfy tax obligations related to vested restricted stock units.

Summary

• Thomas T. Edman, who serves as President and CEO, and Director of TTM Technologies Inc. (TTMI), filed a Form 4 with the SEC.
• The filing reports the sale of 25,340 shares of TTMI common stock.
• The transaction occurred on June 23, 2025.
• The shares were sold at a weighted average price of $36.3881, with individual transaction prices ranging from $35.70 to $36.94.
• This sale was executed pursuant to a Rule 10b5-1 Sales Plan, which is a pre-arranged trading plan.
• The primary purpose of the sale was to cover tax liabilities incident to the vesting of Restricted Stock Units (RSUs).
• Following this transaction, Mr. Edman beneficially owns 834,473 shares of TTMI common stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, pre-planned sale for tax purposes related to RSU vesting, which is a common practice and does not indicate a change in management's outlook or company fundamentals.

Positives

• The sale was conducted under a pre-arranged 10b5-1 Sales Plan, indicating a planned transaction rather than a discretionary sale based on new, non-public information.

Negatives

• The sale of shares by an insider, even for tax purposes, reduces their direct ownership stake, though it is a common practice.

Future Outlook

NA

Management Comments

• The sale of shares was made to pay the tax liability incident to the vesting of Restricted Stock Units (RSUs).

Industry Context

This Form 4 filing is a standard regulatory disclosure for insider transactions and does not inherently provide broader industry context beyond the company's executive compensation practices.

Comparison to Industry Standards

• The sale of shares by executives to cover tax liabilities upon the vesting of restricted stock units (RSUs) is a common and standard practice across publicly traded companies, including those in the technology and manufacturing sectors. This transaction aligns with typical executive compensation and tax planning strategies.

Stakeholder Impact

• Minimal direct impact on shareholders as this is a routine tax-related transaction by an executive.
• Employees, customers, suppliers, and creditors are not directly impacted by this specific filing.

Key Dates

Keywords

TTM Technologies, TTMI, Form 4, Insider Trading, Stock Sale, CEO, Restricted Stock Units, RSU, 10b5-1 Plan, Executive Compensation