Form 4: TTM Technologies Director Granted Restricted Stock Units, Boosting Ownership

Julie Spicer England, a Director at TTM Technologies Inc. (TTMI), was granted 7,080 restricted stock units, increasing her beneficial ownership to 90,325 shares.

Summary

• Julie Spicer England, a Director of TTM Technologies Inc. (TTMI), acquired 7,080 shares of common stock on May 27, 2025.
• The acquisition was a grant of restricted stock units (RSUs) at a price of $0 per share.
• Each restricted stock unit represents the right to receive one share of the Issuer's common stock.
• Following this transaction, Ms. England's direct beneficial ownership in TTM Technologies Inc. stands at 90,325 shares.
• The shares underlying these restricted stock units are scheduled to vest on the first anniversary of the grant date.
• The actual delivery of the stock underlying the restricted units will occur upon Ms. England's retirement from the Board of Directors.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it indicates a routine equity grant to a director, aligning their interests with shareholders and showing continued commitment to the company. It's not a direct financial performance indicator but a governance-related positive.

Positives

• The grant of restricted stock units to a director aligns management's interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• An increase in beneficial ownership by a director can be viewed as a sign of confidence in the company's future prospects.

Future Outlook

The 7,080 restricted stock units granted to Director Julie Spicer England are scheduled to vest on the first anniversary of the grant date. The underlying shares will be delivered upon her retirement from the Board of Directors.

Industry Context

This Form 4 filing reflects a routine equity compensation grant to a director, a common practice across industries to incentivize and retain board members by aligning their financial interests with long-term shareholder value.

Comparison to Industry Standards

• The grant of restricted stock units (RSUs) as part of director compensation is a standard practice in publicly traded companies, including those in the technology and manufacturing sectors like TTM Technologies. This method is widely used by companies such as Flex Ltd. (FLEX), Sanmina Corporation (SANM), and Jabil Inc. (JBL) to align director incentives with shareholder returns.
• The vesting schedule, typically over one year for such grants, is also consistent with common corporate governance practices for non-employee directors, ensuring continued engagement and oversight.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns their interests with shareholders, potentially leading to more shareholder-friendly decisions and long-term value creation.
• Employees: No direct impact on general employees is indicated by this filing.

Next Steps

• The 7,080 restricted stock units will vest on the first anniversary of the grant date (May 27, 2025).
• The shares underlying the restricted units will be delivered to Julie Spicer England upon her retirement from the Board of Directors.

Key Dates

Keywords

TTM Technologies, TTMI, Restricted Stock Units, RSU Grant, Insider Ownership, Director Compensation, SEC Form 4, Beneficial Ownership, Equity Compensation