Form 4: TTM Technologies CFO Daniel Boehle Granted Restricted Stock Units Under 10b5-1 Plan

TTM Technologies, Inc. (TTMI) announced that its Executive Vice President and CFO, Daniel L. Boehle, was granted 22,986 restricted stock units (RSUs) on June 24, 2025, as part of a Rule 10b5-1 plan.

Summary

• Daniel L. Boehle, Executive Vice President and Chief Financial Officer of TTM Technologies Inc. (TTMI), was granted 22,986 restricted stock units (RSUs).
• The grant date for these RSUs is June 24, 2025.
• The RSUs were granted at a price of $0.00, indicating they are part of an equity compensation plan.
• Following this transaction, Mr. Boehle beneficially owns a total of 77,212 shares of common stock.
• The restricted stock units are scheduled to vest in three equal annual installments, with one-third vesting on the first, second, and third anniversaries of the grant date (June 24, 2025).
• The common stock underlying the vested units will be delivered on or within 30 days of June 24 of each vesting year.
• This transaction was made pursuant to a Rule 10b5-1(c) plan, which provides an affirmative defense against insider trading allegations.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates executive retention and alignment with shareholder interests through equity compensation, which is a standard and expected corporate action. There are no negative surprises or significant concerns raised by this filing.

Positives

• The grant of restricted stock units aligns the interests of the EVP and CFO, Daniel L. Boehle, with those of shareholders, as the value of his compensation is directly tied to the company's stock performance.
• Equity grants like RSUs are a common and effective tool for executive retention, incentivizing long-term commitment and contributions to the company's success.
• The use of a Rule 10b5-1 plan indicates a pre-arranged transaction, demonstrating transparency and adherence to insider trading regulations.

Negatives

• The issuance of new restricted stock units, upon their vesting and conversion into common stock, will result in a minor dilution of existing shareholder equity.

Risks

• The ultimate value realized by the EVP and CFO from the granted restricted stock units is contingent upon the future market performance of TTM Technologies Inc.'s common stock.
• Should the EVP and CFO, Daniel L. Boehle, cease employment with the company before the scheduled vesting dates, any unvested restricted stock units would typically be forfeited.

Future Outlook

The document outlines a future vesting schedule for the granted restricted stock units, with one-third vesting annually on the first, second, and third anniversaries of the June 24, 2025 grant date, and stock delivery within 30 days of June 24 each year.

Industry Context

This RSU grant to a key executive is a standard practice in the technology and manufacturing sectors, particularly for publicly traded companies, to attract, retain, and incentivize top talent by aligning their long-term interests with shareholder value creation. It reflects common executive compensation strategies aimed at fostering stability and performance.

Related Party Transactions

• The grant of restricted stock units to Daniel L. Boehle, an Executive Vice President and Chief Financial Officer, constitutes a related party transaction as it involves compensation provided by the company to a key management personnel.

Stakeholder Impact

• Shareholders: Potential for minor dilution upon vesting of RSUs, but also improved alignment of executive interests with long-term shareholder value creation.
• Employees: May signal stability in executive leadership and adherence to standard compensation practices within the company.
• Management: Provides a significant long-term incentive and compensation component tied directly to the company's performance.

Next Steps

• Vesting of one-third of the restricted stock units on June 24, 2026.
• Vesting of one-third of the restricted stock units on June 24, 2027.
• Vesting of one-third of the restricted stock units on June 24, 2028.
• Delivery of underlying common stock on or within 30 days of June 24 in each respective vesting year.

Key Dates

Keywords

TTM Technologies, TTMI, SEC Form 4, Restricted Stock Units, RSU, Executive Compensation, Insider Transaction, Daniel L. Boehle, CFO, Corporate Governance, Equity Grant, Rule 10b5-1