Form 4: TTM Technologies Inc. Executive Sells Shares to Cover Tax Obligations and Generate Cash

Robert P. Farrell, President C&C of TTM Technologies Inc., sold shares to cover tax liabilities and generate cash related to the vesting of Restricted Stock Units (RSUs).

Summary

• On June 24, 2024, Robert P. Farrell, President C&C of TTM Technologies Inc., executed transactions involving the company's common stock.
• Farrell sold 2,364 shares to cover tax liabilities associated with the vesting of RSUs at a weighted average price of $18.9911.
• Additionally, Farrell sold 5,159 shares for cash related to the vesting of RSUs, also at a weighted average price of $18.9911.
• Both sales were conducted under a pre-arranged 10b5-1 Sales Plan.
• Following these transactions, Farrell directly owns 22,958 shares of TTM Technologies Inc.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock sales by an executive. It doesn't inherently indicate positive or negative sentiment, as it's a standard practice for managing personal finances and tax obligations related to equity compensation.

Industry Context

Executive stock sales are a common occurrence, particularly when tied to RSU vesting. These transactions are often pre-planned under 10b5-1 plans to avoid accusations of insider trading. The impact on the stock price is usually minimal unless the sale is unusually large.

Comparison to Industry Standards

• Executive compensation packages often include RSUs, which vest over time and are subject to taxes upon vesting.
• Selling shares to cover tax obligations is a standard practice among executives receiving equity compensation.
• The use of 10b5-1 trading plans is a common method for executives to sell shares in a compliant manner, similar to practices at companies like Sanmina and Flex.
• The size of the sale is relatively small compared to the total outstanding shares of TTM Technologies Inc.

Stakeholder Impact

• The stock sale may have a minimal impact on shareholders, as it is a relatively small transaction executed under a pre-arranged plan.
• Employees may be indirectly affected by executive stock transactions, but the impact is generally limited.

Key Dates