TTM Technologies, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K, dated May 7, 2020, details the results of TTM Technologies, Inc.'s 2020 Annual Meeting of Stockholders. The company is incorporated in Delaware and trades on the NASDAQ under the symbol TTMI.
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 and voting outcomes rather than financial performance.
Material Changes and Voting Results
Of the 105,957,257 shares outstanding, 97,610,722 shares (approximately 92.12%) were present at the meeting. All proposed measures passed. The specific results were:
- Proposal 1 (Election of Class II Directors): Kenton K. Alder, Julie S. England, and Philip G. Franklin were elected. Philip G. Franklin received the highest number of withheld votes (8,914,012) among the nominees.
- Proposal 2 (Amendment to 2014 Incentive Compensation Plan): Approved with 91,975,096 votes for and 2,326,000 votes against.
- Proposal 3 (Say-on-Pay): Advisory vote on executive compensation passed with 94,049,175 votes for and 238,818 votes against.
- Proposal 4 (Frequency of Say-on-Pay): Stockholders voted to hold future advisory votes on executive compensation every three years (6,969,461 votes) rather than annually (87,318,565 votes for one year).
- Proposal 5 (Ratification of Auditors): The appointment of the independent registered public accounting firm for the fiscal year ending December 28, 2020, was ratified with 97,323,074 votes for.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the specific terms of the amendment to the 2014 Incentive Compensation Plan approved in Proposal 2.
- Confirm the identity of the independent registered public accounting firm ratified in Proposal 5.
- Note the shareholder preference for a three-year frequency for future executive compensation advisory votes.
- Review the full proxy statement for details on the directors elected in Proposal 1.