Form 4: TTM Technologies Director Rex Geveden Granted Over 9,000 Restricted Stock Units

TTM Technologies Inc. Director Rex D. Geveden was granted 9,162 restricted stock units on May 27, 2025, as part of his compensation, increasing his total beneficial ownership to 92,480 shares.

Summary

• Rex D. Geveden, a Director of TTM Technologies Inc. (TTMI), was granted 9,162 shares of common stock in the form of restricted stock units (RSUs).
• The transaction occurred on May 27, 2025, with a reported price of $0, indicating a grant rather than a purchase.
• Each restricted stock unit represents the right to receive one share of the Issuer's common stock.
• The shares underlying these restricted stock units will vest on the first anniversary of the grant date.
• Delivery of the stock underlying the restricted units will occur upon Mr. Geveden's retirement from the Board of Directors.
• Following this transaction, Mr. Geveden's total beneficial ownership of TTM Technologies common stock is 92,480 shares.

Sentiment

Score: 7

Explanation: The grant of equity compensation to a director is generally a positive sign of alignment between management/board and shareholder interests, and a routine part of compensation. It doesn't indicate any negative operational or financial issues.

Positives

• The grant of restricted stock units to Director Rex D. Geveden aligns his interests with long-term shareholder value, as the shares vest over time and are delivered upon retirement.
• This type of equity compensation is a common practice to retain and incentivize key board members.

Future Outlook

The vesting schedule of the restricted stock units indicates a future delivery of shares to the reporting person, contingent on continued service and eventual retirement from the board.

Industry Context

This transaction is a routine equity compensation grant to a director, common across publicly traded companies to align executive and board interests with long-term company performance and shareholder returns. It reflects standard corporate governance practices in the technology and manufacturing sectors.

Comparison to Industry Standards

• The grant of restricted stock units (RSUs) to directors is a standard practice in corporate governance across various industries, including technology and manufacturing, to incentivize long-term commitment and performance.
• Companies like Apple Inc. (AAPL) and Microsoft Corp. (MSFT) also utilize RSU grants as a significant component of their non-employee director compensation packages, often with multi-year vesting schedules or vesting upon specific events like retirement.
• The $0 price for the acquisition of shares is typical for RSU grants, as it represents a compensation award rather than a purchase.

Corporate Governance

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns their interests with long-term shareholder value, as the value of the compensation is tied to the company's stock performance.

Next Steps

• The restricted stock units are scheduled to vest on the first anniversary of the grant date (May 27, 2025).
• The underlying shares will be delivered to Rex D. Geveden upon his retirement from the Board of Directors.

Key Dates

Recommendation

Keywords

TTM Technologies, TTMI, Form 4, SEC filing, Restricted Stock Units, RSU, Director compensation, Insider transaction, Equity grant, Corporate governance