Form 4: TTM Technologies Executive Granted Restricted Stock Units Under Compensation Plan

Daniel J. Weber, EVP and General Counsel of TTM Technologies Inc., was granted 19,449 restricted stock units as part of a compensation plan, increasing his beneficial ownership.

Summary

• Daniel J. Weber, the Executive Vice President and General Counsel of TTM Technologies Inc. (TTMI), acquired 19,449 shares of common stock.
• The acquisition, dated June 24, 2025, was a grant of restricted stock units (RSUs) at a price of $0.00 per share, indicating it was part of an equity compensation plan.
• Following this transaction, Mr. Weber's direct beneficial ownership of TTM Technologies common stock increased to 81,940 shares.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, which allows insiders to set up pre-planned transactions to avoid accusations of insider trading.
• Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock.

Sentiment

Score: 7

Explanation: The filing reports a routine grant of restricted stock units to a key executive, which is a common compensation practice aimed at aligning management interests with shareholder value and retaining talent. This is generally viewed as a neutral to slightly positive event for the company.

Positives

• The grant of restricted stock units aligns the interests of a key executive, Daniel J. Weber, with those of the shareholders, as the value of his compensation is tied to the company's stock performance.
• This RSU grant serves as a retention mechanism for a senior executive (EVP, General Counsel), helping to secure experienced leadership for the company.
• The transaction was conducted under a Rule 10b5-1(c) plan, indicating a pre-arranged and transparent approach to insider stock transactions.

Negatives

• The vesting of these restricted stock units will result in a minor dilutive effect on existing shareholders as new shares are issued over time.

Future Outlook

NA

Industry Context

This filing is a routine insider transaction report and does not provide broader industry context. Executive equity compensation, such as RSU grants, is a standard practice across various industries, including the technology and manufacturing sectors where TTM Technologies operates, to incentivize and retain key personnel.

Stakeholder Impact

• Shareholders: Potential minor dilution over time as RSUs vest and new shares are issued, but also benefits from improved executive alignment and retention.
• Employees (specifically Daniel J. Weber): Significant increase in equity compensation, aligning personal financial interests with company performance.

Next Steps

• The restricted stock units will vest one-third on the first, second, and third anniversaries of the grant date (June 24, 2025).
• The stock underlying the vested units will be delivered on or within 30 days of June 24 of each vesting year.

Key Dates

Keywords

TTM Technologies, TTMI, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Grant, Executive Compensation, Daniel J. Weber, Corporate Governance, Equity Compensation, Rule 10b5-1 Plan