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

TTM Technologies Chief Operating Officer James P. Walsh reported the sale of common stock valued at over $100,000 under a pre-arranged 10b5-1 trading plan to cover tax liabilities from vested RSUs.

Summary

• James P. Walsh, Chief Operating Officer of TTM Technologies Inc. (TTMI), reported a series of stock sales on June 23, 2026.
• These sales were conducted under a Rule 10b5-1 trading plan adopted on February 24, 2026.
• The primary purpose of these transactions was to cover tax liabilities arising from the vesting of Restricted Stock Units (RSUs).
• A total of 2,575 shares were sold across multiple transactions at weighted average prices ranging from $201.89 to $213.73.
• Following these transactions, Mr. Walsh beneficially owns 30,633 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as the reported stock sales are attributed to a pre-arranged 10b5-1 plan for tax coverage, a common and expected practice for executives.

Negatives

• Sale of a significant number of shares by a key executive, although explained as a tax coverage measure.

Risks

• The sale of shares by a high-ranking executive, even if for tax purposes, could be perceived negatively by the market.
• The ongoing need to cover tax liabilities from RSU vesting suggests a continuous outflow of shares.

Future Outlook

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

Management Comments

• The amount reported in Column 4 represents the sale of shares, pursuant to a 10b5-1 trading plan adopted on February 24, 2026, solely to pay the tax liability incident to the vesting of RSUs.
• The reporting person undertakes to provide to TTM Technologies, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

Industry Context

StockSavvy.ai notes that insider sales, particularly those under 10b5-1 plans to cover tax liabilities from equity compensation, are common in the technology sector as companies utilize RSUs and stock options to attract and retain talent. The execution of such plans is a standard practice for executives to manage personal finances without signaling negative views on the company's prospects.

Stakeholder Impact

• Shareholders: The sale of shares by an executive, even under a 10b5-1 plan, may lead to short-term market perception concerns, though the stated purpose is tax-related and not indicative of a negative outlook on the company's performance.

Key Dates

Recommendation

The filing reports routine insider stock sales under a 10b5-1 plan to cover tax liabilities from vested RSUs. This is a standard practice and does not provide new information about the company's financial health or future prospects that would warrant a change in investment strategy. Therefore, a 'hold' recommendation is appropriate based solely on this filing.

Keywords

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