Form 4: TTM Technologies Executive Steven Spoto Granted Restricted Stock Units

TTM Technologies Inc. officer Steven Spoto received a grant of 7,858 restricted stock units, aligning his compensation with shareholder interests.

Summary

• Steven Spoto, President of Aerospace & Defense Integrated Electronics at TTM Technologies Inc. (TTMI), was granted 7,858 shares of common stock in the form of restricted stock units (RSUs).
• The transaction occurred on June 24, 2025, and was reported on June 25, 2025.
• The RSUs were granted at a price of $0.00, indicating they are part of an equity compensation plan.
• These RSUs will vest in three equal installments: one-third on the first, second, and third anniversaries of the grant date (June 24, 2025).
• The underlying shares will be delivered on or within 30 days of June 24 of each vesting year.
• Following this transaction, Mr. Spoto beneficially owns a total of 32,589 shares of TTM Technologies common stock.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 6

Explanation: Slightly positive. This is a routine executive compensation filing that aligns executive interests with shareholders, which is generally viewed favorably. It does not contain any negative news or significant surprises.

Positives

• The grant of restricted stock units to a key executive like Steven Spoto aligns management's long-term interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• The vesting schedule encourages executive retention and sustained performance over a multi-year period.
• The use of a Rule 10b5-1(c) plan demonstrates a pre-arranged, transparent approach to executive equity compensation.

Negatives

• No specific negative aspects are identified in this routine executive compensation filing.

Risks

• The document itself does not detail specific risks, but the inherent risk with RSUs for the executive is forfeiture if employment terminates before vesting.

Future Outlook

The future outlook involves the vesting of the granted restricted stock units over the next three years, with shares being delivered on or within 30 days of June 24 of each vesting year. This indicates a continued commitment of the executive to the company's long-term performance.

Management Comments

• The filing indicates that the transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• The explanation states that the grant reflects restricted stock units, with each unit representing the contingent right to receive one share of the Issuer's common stock, vesting one-third on the first, second, and third anniversaries of the grant date.

Industry Context

The grant of restricted stock units is a common and standard practice in executive compensation across various industries, including the technology and aerospace & defense sectors. It is designed to incentivize long-term performance and align executive interests with shareholder value creation.

Comparison to Industry Standards

• The structure of this RSU grant, including the vesting schedule and the use of a 10b5-1 plan, is consistent with typical executive equity compensation practices observed in publicly traded companies within the technology and defense industries.
• Companies like Lockheed Martin, Raytheon Technologies, and Northrop Grumman frequently utilize similar RSU programs to retain and incentivize key executives, tying their compensation to the company's stock performance over several years.
• The $0.00 price per share is standard for RSU grants, representing a contingent right to receive shares upon vesting rather than a purchase.

Corporate Governance

Related Party Transactions

• This document reports an insider transaction (compensation to an executive), which is a standard compensation mechanism rather than a unique business transaction with a related party.

Stakeholder Impact

• Shareholders: Positive impact as executive compensation is aligned with long-term share price performance, potentially encouraging sustained growth and value creation.
• Employees: No direct impact on general employees, but it highlights the company's executive compensation strategy.
• Executive (Steven Spoto): Positive impact as it provides a significant equity award, incentivizing continued service and performance.

Next Steps

• Vesting of the restricted stock units on the first, second, and third anniversaries of June 24, 2025.
• Delivery of the underlying common stock shares to Steven Spoto on or within 30 days of June 24 in each vesting year.

Key Dates

Keywords

TTM Technologies, TTMI, Steven Spoto, Form 4, SEC Filing, Restricted Stock Units, RSU, Executive Compensation, Insider Transaction, Equity Grant, Corporate Governance, Aerospace & Defense