TTM Technologies Form 4: 5.9K-share RSU award to business unit president

Rhea-AI Filing Summary

TTM Technologies Inc. (TTMI) filed a Form 4 on 25 Jun 2025 reporting an equity award to insider Anthony Joseph Sandeen, President of the company’s AMI&I Business Unit. On 24 Jun 2025, Sandeen received 5,893 restricted stock units (RSUs) at a cost of $0.00 per unit under TTMI’s long-term incentive plan.

Each RSU converts into one share of common stock. Vesting occurs in three equal tranches on the first, second and third anniversaries of the grant date, with share delivery within 30 days of 24 June each year. After the grant, Sandeen’s direct beneficial ownership rises to 43,442 shares. No shares were sold or otherwise disposed of, and no derivative transactions beyond the RSU grant were reported.

The transaction is a routine component of executive compensation aimed at retaining a key business unit leader and aligning management with shareholder value creation. Given TTMI’s multi-million-share float, the 5,893-share award is immaterial to dilution, but it reinforces the company’s commitment to equity-based incentives for senior management.

Positive

• Equity grant strengthens management–shareholder alignment
• Vesting over three years promotes executive retention and long-term focus

Negative

• Incremental dilution, albeit extremely small, adds to share count

Insights

Financial Analyst

TL;DR: Minor RSU grant to TTMI officer; negligible dilution, standard retention tool—overall neutral for valuation.

The 5,893-share RSU award represents a fraction of a basis point of TTMI’s outstanding shares, so earnings per share impact is de minimis. While the grant modestly increases insider ownership to 43,442 shares, it does not signal meaningful new information on operating performance or capital allocation. Investors may view the award positively for alignment but should not expect a price reaction.

Corporate Governance Expert

TL;DR: Standard three-year vesting RSU structure supports retention; no governance red flags detected.

The filing shows typical Section 16 compliance and a well-structured vesting schedule that promotes executive continuity. No accelerated vesting, option repricing, or 10b5-1 plan designation is present, suggesting ordinary-course compensation. From a governance standpoint the grant is routine and does not materially alter control dynamics.

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
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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).

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^*

Sandeen Anthony Joseph

(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)
	President, AMI&I Business Unit

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

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	06/24/2025		A		5,893(1)	A	$0.00	43,442	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. Reflects the grant of restricted stock units. Each restricted stock unit represents the contingent right to receive one share of the Issuer's common stock. The restricted stock units will vest one-third on the first, second and third anniversaries of the date of grant and the stock underlying the restricted units will be delivered on or within 30 days of June 24 of each year.

	/s/ Daniel J. Weber, Attorney-in-Fact	06/25/2025
	** 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

What did TTMI disclose in the June 25 2025 Form 4 filing?

The company reported that President Anthony Joseph Sandeen received 5,893 restricted stock units on June 24 2025.

How many TTMI shares does the insider now own?

Following the grant, Sandeen directly owns 43,442 TTMI shares.

When will the RSUs granted to TTMI’s executive vest?

The RSUs vest in three equal installments on the first, second and third anniversaries of the June 24 2025 grant date.

Was any cash paid for the RSUs by the TTMI executive?

No. The RSUs were granted at a $0.00 exercise price, typical for restricted stock units.

Does the Form 4 suggest any immediate impact on TTMI’s share count?

The 5,893-share award is immaterial relative to TTMI’s total shares outstanding, implying negligible dilution.