Form 4: TTM Technologies CFO Sells Shares for Tax Liability

TTM Technologies' EVP and CFO, Daniel L. Boehle, sold 5,761 shares of common stock at a weighted average price of $40.86 to cover tax obligations from RSU vesting.

Summary

• Daniel L. Boehle, EVP and CFO of TTM Technologies Inc. (TTMI), reported a transaction involving the company's common stock.
• On August 22, 2025, Mr. Boehle disposed of 5,761 shares of common stock.
• The shares were sold at a weighted average price of $40.86, with individual sales ranging from $40.76 to $40.86.
• This sale was executed under a Rule 10b5-1 sales plan and was specifically to cover tax liabilities incurred from the vesting of Restricted Stock Units (RSUs).
• Following this transaction, Mr. Boehle directly beneficially owns 71,451 shares of TTM Technologies common stock.

Sentiment

Score: 5

Explanation: The filing reports a routine, pre-planned insider sale to cover tax liabilities from RSU vesting, which is a neutral event. It does not indicate any significant positive or negative developments for the company.

Positives

• The transaction was conducted under a pre-arranged Rule 10b5-1 sales plan, indicating a structured and pre-determined approach to managing equity compensation and tax obligations, which can reduce concerns about opportunistic insider trading.

Negatives

• No direct negative implications are apparent from this routine tax-related sale.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing, as it reports a past insider transaction.

Industry Context

This Form 4 filing reports a routine insider transaction related to executive compensation and tax planning, which is common across all industries for publicly traded companies. It does not provide information relevant to broader industry trends or competitive positioning.

Comparison to Industry Standards

• This filing details a standard insider transaction (sale to cover taxes from RSU vesting) executed under a 10b5-1 plan.
• Such transactions are a common practice for executives across various industries, including technology and manufacturing, and align with typical executive compensation and tax management strategies.
• No specific comparable companies or projects are mentioned or required for this type of filing.

Management Changes

Corporate Governance

Legal Proceedings

• No litigation or regulatory matters are mentioned in this Form 4 filing.

Related Party Transactions

• The transaction involves an executive officer (Daniel L. Boehle) of TTM Technologies Inc. selling company stock, which is inherently a related party transaction in the context of insider reporting.

Stakeholder Impact

• Shareholders: The sale of a relatively small number of shares by an executive for tax purposes is unlikely to have a material impact on the company's stock price or long-term shareholder value. It is a routine part of executive compensation.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this filing.

Next Steps

• No specific future actions, events, or milestones are mentioned in this Form 4 filing.

Key Dates

Recommendation

This Form 4 filing details a routine, pre-planned sale of shares by an executive to cover tax obligations arising from RSU vesting. Such transactions are common and generally do not reflect a change in the executive's confidence in the company's future prospects or indicate any material operational or financial developments. Therefore, it provides no new information that would warrant a change in investment recommendation; a 'hold' stance is maintained based on the neutrality of this specific filing.

Keywords

TTM Technologies, TTMI, Form 4, Insider Trading, Stock Sale, Executive Compensation, RSU Vesting, Tax Liability, Daniel L. Boehle, CFO