Form 4: TTM Technologies Executive Robert P. Farrell Granted Restricted Stock Units

Robert P. Farrell, President of C&C at TTM Technologies Inc., was granted 8,447 restricted stock units on June 24, 2025, as part of a Rule 10b5-1 plan.

Summary

• Robert P. Farrell, President C&C of TTM Technologies Inc. (TTMI), reported a change in beneficial ownership via a Form 4 filing.
• On June 24, 2025, Mr. Farrell acquired 8,447 shares of Common Stock.
• This acquisition was a grant of restricted stock units (RSUs) with a reported price of $0.00 per share, indicating it was compensation.
• The restricted stock units are structured to vest one-third on the first, second, and third anniversaries of the grant date.
• The stock underlying the vested units will be delivered on or within 30 days of June 24 of each respective vesting year.
• Following this transaction, Mr. Farrell's beneficial ownership of Common Stock increased to 26,815 shares.
• The transaction was made pursuant to a pre-arranged contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 7

Explanation: The grant of RSUs to an executive is generally a positive sign of executive retention and alignment with shareholder interests, though it's a routine compensation event rather than a major strategic announcement that would significantly alter the company's outlook.

Positives

• The grant of restricted stock units aligns the executive's long-term interests with shareholder value creation, as the value of the compensation is tied to the company's stock performance.
• The transaction was executed under a Rule 10b5-1 plan, which indicates a pre-arranged and transparent approach to insider equity transactions, reducing concerns about opportunistic trading.

Future Outlook

The restricted stock units granted to Robert P. Farrell are scheduled to vest one-third on the first, second, and third anniversaries of the June 24, 2025 grant date, with the underlying stock to be delivered on or within 30 days of June 24 in each respective vesting year.

Industry Context

This Form 4 filing reflects a standard executive compensation practice within the technology and manufacturing sectors, where restricted stock units are commonly used to incentivize and retain key management personnel by aligning their long-term interests with company performance and stock appreciation.

Comparison to Industry Standards

• The grant of restricted stock units to an executive is a common form of equity compensation across publicly traded companies, particularly in the technology and manufacturing industries.
• The vesting schedule of one-third over three years is a typical industry standard for long-term incentive plans, aiming to retain talent and encourage sustained performance.
• The use of a Rule 10b5-1 plan for such grants is also a standard practice for insiders to manage their equity holdings in compliance with insider trading regulations, demonstrating adherence to corporate governance best practices.

Stakeholder Impact

• Shareholders: The RSU grant aligns the interests of a key executive with those of shareholders, potentially fostering long-term value creation.
• Employees: May signal stability in executive leadership and a standard approach to executive compensation within the company.

Next Steps

• First vesting of restricted stock units on the first anniversary of June 24, 2025.
• Second vesting of restricted stock units on the second anniversary of June 24, 2025.
• Third vesting of restricted stock units on the third anniversary of June 24, 2025.
• Delivery of stock underlying vested units on or within 30 days of June 24 in each vesting year.

Key Dates

Keywords

TTM Technologies, TTMI, Form 4, SEC filing, insider transaction, restricted stock units, RSU grant, executive compensation, Robert P. Farrell, Rule 10b5-1