TTM Technologies Insider Files Form 4 for 14k-Share Tax Withholding Sale

Rhea-AI Filing Summary

TTM Technologies, Inc. (TTMI) – Form 4 insider transaction

The filing discloses that Executive Vice President of Human Resources Shawn A. Powers disposed of 14,207 shares of common stock on 23 June 2025. The transaction was coded “F,” meaning the shares were sold to satisfy tax obligations related to the vesting of restricted stock units (RSUs). The weighted-average sale price was $36.3687 per share, with individual prices ranging from $35.71 to $36.94. The sale was executed under a pre-arranged Rule 10b5-1 trading plan.

Following the sale, Powers continues to hold 73,905 shares directly. No derivative security transactions were reported.

The Form 4 indicates this is a routine tax-withholding sale rather than an open-market discretionary disposition, and it does not signal a change in employment status or a material change in ownership control.

Positive

• Executive retains 73,905 shares, maintaining meaningful equity alignment with shareholders.
• Sale executed under Rule 10b5-1 plan, demonstrating adherence to best-practice insider-trading safeguards.

Negative

• 14,207 shares were sold, representing insider share disposal valued at roughly $0.52 million.

Insights

Corporate Governance Expert

TL;DR: Routine 10b5-1 tax-withholding sale; neutral governance signal.

This Form 4 shows Powers using an approved Rule 10b5-1 plan to cover RSU taxes—standard practice that limits discretion and insider-trading risk. Because the transaction code is “F,” the shares were withheld/sold for tax purposes, not discretionary profit-taking. Powers still retains nearly 74 k shares, suggesting continued alignment with shareholders. No red flags regarding compliance or governance emerge.

Portfolio Manager

TL;DR: Small, non-discretionary sale; immaterial to TTMI valuation.

The 14,207-share sale equals roughly $0.52 million, a modest fraction of TTMI’s daily volume and market cap, so liquidity impact is negligible. Post-sale ownership of 73,905 shares indicates the executive maintains exposure. As the sale strictly covers tax and is pre-planned, I classify the event as not impactful for portfolio positioning or sentiment.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Powers Shawn A.

(Last) (First) (Middle)

200 EAST SANDPOINTE, SUITE 400

(Street)

SANTA ANA CA 92707

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TTM TECHNOLOGIES INC [ TTMI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Human Resources

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/23/2025		F		14,207(1)	D	$36.3687(2)	73,905	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the sale of shares, pursuant to a 10b5-1 Sales Plan, to pay the tax liability incident to the vesting of RSUs.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.71 - $36.94, inclusive. The reporting person undertakes to provide to TTM Technologies, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

	/s/ Daniel J. Weber, Attorney-in-Fact	06/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many TTMI shares did EVP Shawn A. Powers sell on 23 June 2025?

He disposed of 14,207 shares of TTM Technologies common stock.

What was the average price per share for the TTMI insider sale?

The weighted-average price reported was $36.3687, with trades between $35.71 and $36.94.

Why did the TTMI executive sell shares according to the Form 4?

The sale was coded “F,” indicating shares were sold to pay taxes on vested RSUs under a 10b5-1 plan.

How many TTMI shares does the executive still own after the transaction?

Shawn A. Powers continues to own 73,905 TTMI shares directly.

Does the Form 4 indicate any derivative security activity by the executive?

No. Table II shows no derivative transactions during the reporting period.