Business Context and Reporting Period
Company: TTM Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 5, 2016
Principal Executive Offices: Costa Mesa, California
This filing reports the appointment of a new director to the Board of Directors. The appointment is conditional upon approval from the United States Defense Security Service (DSS) pursuant to a Special Security Agreement.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial statement data.
Material Changes
- Board Composition: The Board of Directors appointed Julie S. England as a Class II director with a term expiring in 2017.
- Board Size: Following this appointment, the Board will consist of 10 directors.
- Independence: Seven of the 10 directors are independent under Nasdaq rules.
- Related Party Transactions: There were no related party transactions between Ms. England and the company since the beginning of the last fiscal year.
Management Commentary and Risks
Management Commentary: The Board nominated Ms. England due to her extensive background in the technology industry and experience serving on private and public companies in the USA and Europe, particularly her corporate governance experience. She is currently retired but previously held senior executive roles at Texas Instruments Inc., including Vice President and General Manager of the RFID division.
Contingencies: The appointment is effective only upon approval from the United States Defense Security Service (DSS).
Risks: No specific financial or operational risks were disclosed in this filing.
Investor Verification Checklist
- Verify the status of the DSS approval required for Ms. England's appointment to become effective.
- Confirm the updated Board composition and independence status on the company's investor relations website.
- Review the attached Press Release (Exhibit 99.1) for additional details on the appointment.