Form 4: TTM Technologies Executive Sells Shares to Cover RSU Tax Obligations

Catherine A. Gridley, EVP and A&D Sector President of TTM Technologies Inc., sold 13,669 shares of common stock on June 23, 2025, to satisfy tax liabilities from vested Restricted Stock Units.

Summary

• Catherine A. Gridley, Executive Vice President and A&D Sector President of TTM Technologies Inc. (TTMI), reported a transaction on June 23, 2025.
• The transaction involved the disposition of 13,669 shares of TTM Technologies Common Stock.
• The shares were sold at a weighted average price of $36.35 per share, with individual sales ranging from $35.71 to $36.92.
• This sale was conducted pursuant to a Rule 10b5-1 Sales Plan.
• The purpose of the sale was to cover the tax liability incurred from the vesting of Restricted Stock Units (RSUs).
• Following this transaction, Ms. Gridley beneficially owns 107,537 shares of TTM Technologies Common Stock directly.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, non-discretionary sale by an executive to cover tax obligations related to RSU vesting, which is a common and expected event in executive compensation.

Positives

• The transaction was executed under a Rule 10b5-1 Sales Plan, indicating a pre-planned, non-discretionary sale, which is a common practice for executives managing their equity compensation and tax obligations.

Negatives

• No inherent negatives are identified as the sale was for tax purposes related to RSU vesting, a routine event for executive compensation.

Risks

• No specific risks to the company's operations or financial health are mentioned in this Form 4 filing.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sale of shares was made pursuant to a 10b5-1 Sales Plan to pay the tax liability incident to the vesting of RSUs.

Industry Context

This Form 4 filing details a routine insider transaction common among executives who receive equity compensation. The sale to cover tax liabilities from RSU vesting is a standard practice and does not typically reflect a change in management's outlook on the company's prospects or broader industry trends.

Comparison to Industry Standards

• The use of a Rule 10b5-1 plan for pre-planned stock sales to cover tax obligations is a standard and widely accepted practice in corporate governance across various industries, including the technology and manufacturing sectors where TTM Technologies operates. This practice helps executives manage their personal financial planning while providing transparency regarding insider transactions.

Stakeholder Impact

• Shareholders: The sale represents a minor dilution of the executive's direct ownership but is a routine part of executive compensation and tax planning, unlikely to have a significant impact on shareholder value.
• Employees: No direct impact on employees is indicated.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated.

Next Steps

• No specific future actions, events, or milestones for the company are mentioned in this filing.

Key Dates

Keywords

TTM Technologies, TTMI, Form 4, Insider Trading, Stock Sale, Restricted Stock Units, RSU, 10b5-1 Plan, Executive Compensation, Tax Liability