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

Catherine A. Gridley, EVP of TTM Technologies, sold a total of 7,900 shares of common stock under a pre-arranged 10b5-1 trading plan to cover tax liabilities from vesting RSUs.

Summary

• Catherine A. Gridley, Executive Vice President and Sector President of TTM Technologies, Inc., reported the sale of common stock on June 23, 2026.
• The sales were executed under a Rule 10b5-1 trading plan adopted on February 24, 2026.
• The primary purpose of these sales was to cover tax liabilities arising from the vesting of Restricted Stock Units (RSUs).
• A total of 7,900 shares were sold across multiple transactions at weighted average prices ranging from $201.89 to $213.73.
• Following these transactions, Gridley beneficially owns 69,679 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. While insider selling can be a negative signal, the explicit reason for the sale (tax liability from RSU vesting under a 10b5-1 plan) is a standard and expected event for executives.

Positives

• The transactions were conducted under a Rule 10b5-1 plan, indicating pre-planned and orderly execution.
• The sales were specifically to cover tax liabilities, a common and expected event for executives upon RSU vesting.
• The reporting person retains a significant number of shares (69,679) after the sales.

Negatives

• A notable number of shares were sold by a key executive, which could be perceived negatively by the market if not for the stated tax purpose.
• The total value of shares sold is substantial, reflecting a significant tax obligation.

Risks

• The filing does not explicitly mention any new risks. However, the sale of shares by an executive, even under a 10b5-1 plan for tax purposes, can sometimes be interpreted by the market as a lack of confidence, although this is a standard procedure.
• The weighted average prices indicate a range of sales, suggesting market volatility during the transaction period.

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 24, 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 sales for tax withholding upon RSU vesting are a common and expected occurrence in the technology sector, particularly for companies with significant equity-based compensation. This filing represents a routine event rather than a strategic shift.

Stakeholder Impact

• Shareholders: The sale is under a pre-arranged plan for tax purposes and is not expected to significantly impact the share price, though any insider selling can create short-term sentiment shifts.
• Employees: This filing highlights the equity compensation practices within the company.
• Management: Demonstrates adherence to disclosure requirements and responsible management of personal finances related to compensation.

Next Steps

• The reporting person will continue to hold the remaining 69,679 shares.
• The company may receive requests for further information regarding the specific prices of shares sold.

Key Dates

Keywords

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