Form 4: TTM Technologies SVP Sells Shares to Cover Tax Obligations

Dale Martin Knecht, SVP of Information Technology at TTM Technologies, sold 9,201 shares of common stock on June 24, 2024, to cover tax liabilities related to vesting RSUs.

Summary

• On June 24, 2024, Dale Martin Knecht, the SVP of Information Technology at TTM Technologies Inc., sold 9,201 shares of common stock.
• The sale was executed to cover the tax liability associated with the vesting of Restricted Stock Units (RSUs).
• The shares were sold at a weighted average price of $18.9922.
• The prices for individual transactions ranged from $18.72 to $19.26.
• Following the transaction, Knecht directly owns 101,392 shares of TTM Technologies Inc.
• The sale was conducted under a pre-arranged 10b5-1 trading plan.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction related to executive compensation. It's neutral in sentiment as it simply reports a stock sale for tax purposes.

Positives

• The sale was conducted under a pre-arranged 10b5-1 trading plan, indicating it was planned and not based on immediate market conditions.

Future Outlook

There are no forward-looking statements in this document.

Industry Context

Form 4 filings are routine disclosures of transactions by company insiders. They provide transparency into the buying and selling activities of individuals with access to non-public information. This particular transaction appears to be related to tax obligations, which is a common reason for insider sales.

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 liabilities is a common practice among executives receiving equity compensation.
• The use of a 10b5-1 trading plan is a standard method to avoid accusations of insider trading, as it establishes a pre-arranged schedule for stock sales.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the routine nature and the use of a 10b5-1 plan.

Key Dates