Form 4: TTM Technologies EVP & COO Philip Titterton Reports Acquisition of Restricted Stock Units

Philip Titterton, EVP & COO of TTM Technologies, acquired 34,177 restricted stock units on June 21, 2024, according to a Form 4 filing with the SEC.

Summary

• On June 21, 2024, Philip Titterton, the EVP & COO of TTM Technologies Inc. (TTMI), acquired 34,177 restricted stock units.
• These restricted stock units represent the contingent right to receive one share of TTM Technologies' common stock each.
• The restricted stock units vest in three equal installments on the first, second, and third anniversaries of the grant date.
• The stock underlying the restricted units will be delivered within 30 days of June 22 of each year.
• Following the transaction, Titterton directly owns 189,617 shares of TTM Technologies common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns management interests with shareholders.

Positives

• The acquisition of restricted stock units aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The vesting schedule of the restricted stock units extends over three years, indicating a long-term incentive for the executive.

Industry Context

Executive compensation packages often include restricted stock units to align management's interests with shareholder value and encourage long-term performance.

Stakeholder Impact

• Shareholders may view this as a positive sign, aligning executive interests with long-term company performance.
• Employees may see this as a sign of confidence in the company's future.

Key Dates