Company: TTMI
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038317
Chunk: 56

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 56
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 resulting in a total of six measurements. If we do not achieve at least 60% threshold level of total annual revenue or adjusted EBITDA performance for any of the six measurements, the amount earned for that performance element of one-sixth of the award would be zero. If we achieve the 60% threshold for any of the targeted levels of total annual revenue and adjusted EBITDA performance for any of the six measurements, a percentage (ranging on a sliding scale from 40% to 160%) would be applied to one-sixth of the participant’s calculation of the number of units earned during such period. If we achieve 120% or more of the target level of total annual revenue or adjusted EBITDA for any of the six measurements, the amount earned for that performance element of the award would be 160% of one-sixth of the initial PRU award.

For PRU grants prior to 2023, the chart below is an example of the PRU units the participant would earn (and “bank,” pending application of the TSR modifier), if an NEO received a target award of 234,000 PRUs, and the Company achieved (i) 130% of the revenue target and 60% of the adjusted EBITDA target in the first year, (ii) 100% of each of the revenue and adjusted EBITDA targets in the second year, and (iii) 120% of the revenue target and 55% of the adjusted EBITDA target in the third year:

|                                | Total Grant | Year 1             | Year 2             | Year 3             | Earned Shares |
| Assumptions                    |     234,000 | 234,000/6 = 39,000 | 234,000/6 = 39,000 | 234,000/6 = 39,000 |               |
| 130% of revenue target         |             | 160% x 39,000      |                    |                    |        62,400 |
| 60% of adjusted EBITDA target  |             | 40% x 39,000       |                    |                    |        15,600 |
| 100% of revenue target         |             |                    | 100% x 39,000      |                    |        39,000 |
| 100% of adjusted EBITDA target |             |                    | 100% x 39,000      |                    |        39,