Form 4: TTM Technologies Executive Sells Shares

Catherine A. Gridley, EVP of TTM Technologies, sold a total of 2,300 shares of common stock on June 25, 2026, as part of a pre-arranged 10b5-1 trading plan to cover tax liabilities from vested RSUs.

Summary

• Catherine A. Gridley, Executive Vice President and Sector President of TTM Technologies, Inc., reported the sale of 2,300 shares of common stock on June 25, 2026.
• These sales were executed under a Rule 10b5-1 trading plan adopted on February 24th, 2026.
• The primary purpose of these transactions was to cover tax liabilities arising from the vesting of Restricted Stock Units (RSUs).
• The sales occurred at various weighted average prices ranging from $204.58 to $218.93 per share.
• Following these transactions, Gridley beneficially owns 71,866 shares of common stock.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral to slightly negative filing due to the sale of shares by a key executive, despite the clear explanation of tax-related motivations and the use of a 10b5-1 plan.

Negatives

• Sale of a significant number of shares by a key executive, although explained by tax obligations.

Risks

• Potential for negative market perception due to insider selling, even if for tax reasons.
• The 10b5-1 plan indicates a pre-determined selling strategy, which might not reflect current insider confidence in the stock's immediate future.

Future Outlook

The filing does not contain forward-looking statements or guidance. It solely reports on past transactions.

Management Comments

• The sales were made pursuant to a 10b5-1 trading plan adopted on February 24th, 2026.
• The sales were solely to pay the tax liability incident to the vesting of RSUs.
• The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the specified ranges upon request.

Industry Context

StockSavvy.ai notes that insider selling, particularly under a 10b5-1 plan for tax purposes, is a common occurrence. However, the volume and timing can still be interpreted by the market. TTM Technologies operates in the highly competitive electronics manufacturing services (EMS) sector, where executive compensation often includes equity components like RSUs, leading to such transactions.

Stakeholder Impact

• Shareholders: May interpret the sale as a negative signal, despite the stated tax-related reasons. The sale reduces the direct beneficial ownership of a key executive.
• Employees: The sale is related to RSU vesting, a common form of employee compensation, and does not directly impact other employees.
• Creditors/Suppliers: No direct impact is indicated by this filing.
• Customers: No direct impact is indicated by this filing.

Next Steps

• The reporting person will continue to hold the remaining 71,866 shares of common stock.
• The company may receive requests for further information regarding the specific prices of the shares sold.

Key Dates

Recommendation

The filing reports a routine stock sale by an executive for tax purposes under a 10b5-1 plan. While insider selling can be a negative signal, the clear explanation and the pre-arranged nature of the plan mitigate immediate concerns about the company's fundamental outlook. The decision to hold is based on the lack of new financial or strategic information that would warrant a change in investment thesis.

Keywords

TTM Technologies, TTMI, Form 4, Insider Trading, Stock Sale, 10b5-1 Plan, RSU Vesting, Catherine Gridley, Executive Compensation, Beneficial Ownership