TTM Technologies, Inc. Form 8-K Summary
Business Context and Reporting Period
This Form 8-K, filed on May 11, 2023, reports the results of the 2023 Annual Meeting of Stockholders held on May 10, 2023. TTM Technologies, Inc. is a Delaware corporation with its principal executive offices in Santa Ana, California.
Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is limited to corporate governance voting results.
Material Changes
The filing reports the successful passage of all four proposals submitted to stockholders. There are no material changes to financial operations or corporate structure reported in this document other than the ratification of the 2023 Incentive Compensation Plan and the election of directors.
Outlook, Risks, and Voting Results
The Annual Meeting saw high participation, with 98,012,405 shares present (approximately 95.54% of outstanding shares). All proposals passed:
- Proposal 1 (Election of Class II Directors): All three nominees (Kenton K. Alder, Julie S. England, Philip G. Franklin) were elected. Philip G. Franklin received the highest support with 92,201,937 votes for.
- Proposal 2 (2023 Incentive Compensation Plan): Approved with 89,919,659 votes for and 4,300,688 votes against.
- Proposal 3 (Say-on-Pay): Advisory vote on executive compensation passed with 93,130,850 votes for and 1,060,336 votes against.
- Proposal 4 (Auditor Ratification): Ratification of the independent registered public accounting firm for the fiscal year ending January 1, 2024, passed with 95,489,688 votes for and 2,490,850 votes against.
Key Facts for Investor Verification
- Verify the specific terms and share limits of the newly approved 2023 Incentive Compensation Plan.
- Confirm the tenure and specific responsibilities of the newly elected Class II Directors.
- Note that the independent auditor was ratified for the fiscal year ending January 1, 2024.
- Observe that broker non-votes were present for Proposals 1, 2, and 3 but were zero for Proposal 4.