Form 4: TTM Technologies Executive Sells Shares Under 10b5-1 Plan

TTM Technologies Inc. executive Daniel J. Weber reported the sale of common stock under a pre-arranged 10b5-1 trading plan to cover tax liabilities from RSU vesting.

Summary

• Daniel J. Weber, EVP, CLO & Secretary of TTM Technologies Inc., executed a series of stock sales on June 25, 2026.
• These sales were conducted under a Rule 10b5-1 trading plan adopted on February 26, 2026.
• The primary purpose of these transactions was to cover tax liabilities arising from the vesting of Restricted Stock Units (RSUs).
• A total of 2,790 shares were sold across multiple transactions at weighted average prices ranging from $204.58 to $218.93.
• Following these transactions, Mr. Weber beneficially owns 88,250 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. While the sale of shares by an executive can be a negative signal, the clear explanation of it being for tax purposes under a pre-established 10b5-1 plan mitigates significant concern.

Positives

• The transactions were executed under a Rule 10b5-1 plan, indicating pre-planned and orderly selling, which can mitigate concerns about insider trading.
• The sales were specifically to cover tax liabilities related to RSU vesting, a common and often necessary event for executives.
• The executive continues to hold a significant number of shares (88,250) after the sales.

Negatives

• A notable number of shares were sold by a key executive, which could be perceived negatively by the market, despite the stated reason.
• The total value of shares sold is substantial, reflecting a significant tax obligation.

Risks

• Potential for negative market perception due to the sale of a large number of shares by a senior executive, even if for tax purposes.
• The company's stock price may experience downward pressure if the market interprets these sales as a lack of confidence, despite the 10b5-1 plan.

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 26th, 2026, solely to pay the tax liability incident to the vesting of RSUs.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine for executives managing their compensation packages, particularly when RSUs vest. The use of a 10b5-1 plan is a standard practice to ensure compliance with insider trading regulations while allowing for the orderly sale of shares to cover tax obligations.

Stakeholder Impact

• Shareholders: May perceive the sale as a negative signal, although the 10b5-1 plan and tax liability reason temper this concern.
• Employees: The executive's tax obligations are being met, which is a standard part of compensation management.
• Management: Demonstrates adherence to regulatory requirements for insider trading through the use of a 10b5-1 plan.

Next Steps

• Continued monitoring of executive trading activity for any further sales or purchases.
• Analysis of TTM Technologies' upcoming financial reports for overall company performance.

Key Dates

Keywords

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