Company: TTMI
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038317
Chunk: 52

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 52
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 at 102.3% of the global operating income target and 100.9% of our goal for global cash flow from operations as a percentage of revenue. The human capital and compensation committee also reviewed and assessed the performance achieved against the individual goals that had been established for each of the members of the Company’s executive team, including Messrs. Edman, Boehle, Soder, Titterton, and Ms. Gridley. We use individual performance goals to ensure that other important areas of our business are measured and emphasized, which may include but are not limited to customer satisfaction, market positioning and growth, structural and organizational improvements, and critical projects and assignments. Performance goals do not payout unless our Company achieves its threshold financial

| TTM TECHNOLOGIES, INC. | 34 |

performance metrics. As a result, our human capital and compensation committee authorized the payment of 2024 incentive bonuses as follows:

| Name                 |     | 2024 Incentive Bonus |            |     | Payout as % of Target |      |
| Thomas T. Edman      |     |                      | $1,199,249 |     |                       | 105% |
| Daniel L. Boehle     |     |                      |   $458,623 |     |                       | 105% |
| Catherine A. Gridley |     |                      |   $545,526 |     |                       | 142% |
| Douglas L. Soder     |     |                      |   $417,358 |     |                       | 97%  |
| Philip Titterton     |     |                      |   $479,849 |     |                       | 106% |

Because such a large percentage of executive officer compensation is performance-based, our human capital and compensation committee invests significant time determining the financial targets for our annual incentive bonus program. In general, management makes the initial recommendation for the financial target based upon our Company’s annual board-approved budget, as well as the bonus opportunity for each officer, and these recommendations are reviewed and discussed by the committee and its advisors. The major factors used in setting one or more targets for a particular year are the results for the most recently completed year and the budget for the current year. Other factors taken into account may include general economic and market conditions. Our human capital and compensation committee sets the final corporate performance goal during our first quarter, typically at a level our human capital and compensation committee believes is challenging, but reasonable, for management to achieve.

At the end of each year