Form 4: TTM Technologies Director John G. Mayer Receives Significant Restricted Stock Unit Grant

TTM Technologies Inc. Director John G. Mayer was granted 7,080 restricted stock units, aligning his interests with shareholders and increasing his beneficial ownership to 174,307 shares.

Summary

• John G. Mayer, a Director of TTM Technologies Inc. (TTMI), was granted 7,080 restricted stock units (RSUs) on May 27, 2025.
• Each RSU represents the right to receive one share of the company's common stock.
• The transaction price for these units was reported as $0, indicating a grant as part of compensation rather than a purchase.
• Following this grant, Mr. Mayer's direct beneficial ownership of TTM Technologies common stock increased to 174,307 shares.
• The shares underlying these restricted stock units are scheduled to vest on the first anniversary of the grant date, which is May 27, 2026.
• The actual delivery of the stock will occur upon Mr. Mayer's retirement from the Board of Directors.

Sentiment

Score: 7

Explanation: The grant of restricted stock units to a director is a positive event as it aligns the director's interests with shareholders and is a standard form of compensation, indicating stability in governance and compensation practices. It does not, however, signal significant operational or financial news.

Positives

• The grant of restricted stock units to Director John G. Mayer aligns his financial interests with those of the company's shareholders, promoting long-term value creation.
• The increase in Mr. Mayer's beneficial ownership to 174,307 shares demonstrates continued commitment and confidence in TTM Technologies.
• The vesting schedule encourages long-term retention and performance from the director.

Risks

• The value of the granted restricted stock units is subject to the future performance of TTM Technologies' common stock; if the stock price declines, the value of the grant will decrease.
• The delivery of shares is contingent upon the director's retirement from the Board, meaning the actual receipt of shares could be delayed or subject to the director's tenure.

Future Outlook

The restricted stock units granted to Director John G. Mayer are scheduled to vest on May 27, 2026, which is the first anniversary of the grant date. The actual delivery of the underlying shares will occur upon Mr. Mayer's retirement from the Board of Directors, indicating a long-term incentive structure.

Industry Context

The grant of restricted stock units to directors is a common practice in publicly traded companies across various industries, including the technology and manufacturing sectors where TTM Technologies operates. This form of equity compensation is widely used to attract, retain, and incentivize board members by aligning their long-term interests with those of the company's shareholders.

Comparison to Industry Standards

• The grant of 7,080 restricted stock units to a director is a standard form of non-cash compensation.
• While the specific number of units can vary widely based on company size, industry, and individual director responsibilities, equity grants are a prevalent component of director compensation packages across the S&P 500 and comparable technology manufacturing firms.
• For instance, companies like Flex Ltd. (FLEX) or Jabil Inc. (JBL), which operate in similar electronics manufacturing services or components, often utilize RSU grants as part of their director remuneration to foster long-term commitment and align interests.
• The vesting schedule and delivery upon retirement are also common mechanisms to ensure continued board engagement.

Related Party Transactions

• The grant of restricted stock units to John G. Mayer, a Director of TTM Technologies, constitutes a related party transaction as it involves compensation provided by the company to a member of its board. This is a standard and disclosed form of related party dealing.

Stakeholder Impact

• Shareholders: The grant aligns the director's interests with shareholders, potentially leading to better long-term decision-making and value creation. It also represents a non-cash compensation expense.
• Employees: No direct impact on general employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated.

Next Steps

• The restricted stock units will vest on May 27, 2026.
• The underlying shares will be delivered to John G. Mayer upon his retirement from the Board of Directors.

Key Dates

Recommendation

Keywords

TTM Technologies, TTMI, Form 4, SEC Filing, Insider Transaction, Restricted Stock Units, RSU Grant, Director Compensation, Equity Compensation, John G. Mayer, Beneficial Ownership