Form 4: TTM Technologies SVP Sells Shares to Cover RSU Tax Obligations Under 10b5-1 Plan

Dale Martin Knecht, Senior Vice President of Information Technology at TTM Technologies Inc. (TTMI), sold 9,571 shares of common stock on June 23, 2025, to satisfy tax liabilities associated with the vesting of Restricted Stock Units, as part of a pre-arranged 10b5-1 sales plan.

Summary

• Dale Martin Knecht, SVP of Information Technology at TTM Technologies Inc. (TTMI), reported the sale of 9,571 shares of TTMI common stock.
• The transaction occurred on June 23, 2025.
• The shares were sold at a weighted average price of $36.3171 per share, with individual sales ranging from $35.69 to $36.87.
• The sale was conducted pursuant to a Rule 10b5-1 sales plan, specifically to cover tax liabilities incurred from the vesting of Restricted Stock Units (RSUs).
• Following this transaction, Mr. Knecht beneficially owns 57,973 shares of TTM Technologies common stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, pre-planned sale by an executive to cover tax obligations from vested equity, which is a neutral event for the company's operational outlook. It does not indicate positive or negative sentiment regarding the company's performance or future prospects.

Positives

• The sale was executed under a Rule 10b5-1 plan, indicating a pre-arranged and transparent transaction designed to avoid accusations of insider trading.
• The transaction is a routine event for executives receiving equity compensation, demonstrating the vesting of RSUs which is a positive for employee retention and alignment.

Negatives

• The sale represents a reduction in direct beneficial ownership by a key executive, although it is for tax purposes and not indicative of a lack of confidence in the company.

Risks

• No specific risks related to the company's operations or financial health were mentioned in this Form 4 filing.

Future Outlook

This Form 4 filing, detailing an insider stock transaction, does not contain any forward-looking statements or guidance regarding TTM Technologies Inc.'s future performance or strategic outlook.

Management Comments

• The sale of shares was made pursuant to a 10b5-1 Sales Plan, 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 reported range upon request.

Industry Context

This transaction is a standard occurrence in the corporate landscape, particularly for executives who receive equity compensation such as Restricted Stock Units (RSUs). It reflects a common practice where executives sell a portion of their vested shares to cover tax obligations, rather than indicating a change in company fundamentals or a lack of confidence in the company's future. The use of a 10b5-1 plan is a common and recommended practice for insiders to manage their stock sales in compliance with SEC regulations.

Comparison to Industry Standards

• NA

Corporate Governance

Stakeholder Impact

• Shareholders: Minimal direct impact, as this is a routine, tax-related sale by an executive and not indicative of a change in company fundamentals. The transparency provided by the 10b5-1 plan is beneficial.
• Employees: The vesting of RSUs is a positive for the executive involved, reflecting the company's compensation structure.

Next Steps

• No specific future actions, events, or milestones for TTM Technologies Inc. were mentioned in this Form 4 filing.

Key Dates

Keywords

TTM Technologies, TTMI, Form 4, Insider Transaction, Stock Sale, Restricted Stock Units, RSU, 10b5-1 Plan, Executive Compensation, Dale Martin Knecht, Corporate Governance