TTM Technologies Form 4: 13K-share insider sale for RSU taxes

Rhea-AI Filing Summary

Form 4 overview: On 06/23/2025, TTM Technologies Inc. (symbol TTMI) filed a Form 4 detailing an insider transaction by Executive Vice-President and Commercial Sector President Douglas L. Soder. The filing was submitted on 06/24/2025 and carried the required Section 16 certifications.

Transaction specifics: Mr. Soder sold 13,282 shares of TTMI common stock at a weighted-average price of $36.3362 per share. The sales were executed through multiple trades within a price band of $35.70 – $36.92 and are coded “F,” indicating the disposition of shares to cover taxes triggered by the vesting of restricted stock units (RSUs). The transaction was carried out under a pre-arranged Rule 10b5-1 trading plan, which can reduce the appearance of discretionary timing.

Post-transaction holdings: After the sale, Mr. Soder’s direct beneficial ownership stands at 159,744 shares. No derivative security activity was reported, and there are no changes to indirect ownership.

Investor takeaways: The share sale represents a modest reduction relative to the executive’s remaining stake and is expressly linked to tax-withholding obligations, which can temper concerns about negative signalling. However, any insider sale—especially by a high-ranking officer—may still be interpreted as a short-term bearish data point until additional context (such as upcoming earnings or strategic announcements) is available. No new operational, financial, or strategic information about TTM Technologies was disclosed in the filing.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating a pre-scheduled, non-discretionary transaction that mitigates concerns about timing or insider knowledge.
• Executive retains 159,744 shares post-sale, maintaining meaningful ownership and alignment with shareholders.

Negative

• 13,282 shares of common stock were sold by a senior officer, a data point some investors may perceive as mildly bearish.
• No accompanying operational update was provided, offering investors limited context beyond the tax-withholding explanation.

Insights

Financial Analyst

TL;DR: Routine tax-related insider sale; limited strategic signal; low market impact.

The Form 4 shows EVP Douglas Soder disposing of 13,282 TTMI shares to satisfy RSU tax liabilities under a 10b5-1 plan. The transaction reduces his direct stake by roughly 7.7 % of previously held shares, leaving a sizable 159,744-share position, which suggests ongoing alignment with shareholders. Because the sale is automated and linked to vesting, it is typically viewed as neutral. There is no evidence of new information on earnings, guidance, or strategic change. Consequently, I classify the filing as not impactful for valuation or near-term trading direction.

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^*

Soder Douglas L

(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, Commercial Sector Pres.

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		13,282(1)	D	$36.3362(2)	159,744	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 $35.70 - $36.92, 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 Douglas Soder sell?

He sold 13,282 shares of common stock.

What was the average sale price reported on the Form 4?

The weighted-average price was $36.3362, with individual trades between $35.70 and $36.92.

Why were the shares sold by the TTMI executive?

The filing states the sale was to pay tax liabilities stemming from RSU vesting.

Does Douglas Soder still own TTMI stock after the transaction?

Yes, he directly owns 159,744 shares following the reported sale.

Was the transaction part of a 10b5-1 trading plan?

Yes, the Form 4 confirms the sale was pursuant to a 10b5-1 plan.

Is this insider sale considered material to TTMI investors?

Given its tax-related nature and the officer’s remaining stake, the filing is generally viewed as low impact.