Company: TTMI
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0000950170-25-038317
Chunk: 43

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 43
---
 Compensation Committee (Page 30 )

Compensation Structure (Page 32 )

Compensation Overview – Alignment of Compensation and Performance

Our primary goal is to tie Company Executive's compensation closely with performance. The information below provides an executive summary of our Company’s financial performance for fiscal year 2024 and how pay is aligned with performance.

KEY ACCOMPLISHMENTS IN 2024

TTM’s commitment to its strategy of diversification, differentiation and discipline led to TTM’s continued financial strength in 2024. Due to revenue growth, improved operations and cost management, we generated Non-GAAP net income of $178.4 million in 2024. For an explanation of the use of Non-GAAP metrics, a presentation of comparable financial measures calculated and reported in accordance with GAAP, and a reconciliation to those audited GAAP metrics, see Annex A attached hereto.

| TTM TECHNOLOGIES, INC. | 27 |

PERFORMANCE HIGHLIGHTS

Highlights from 2024

The Company achieved excellent financial performance in 2024.

2024 cash flow from operations was $236.9 million.

2024 revenue growth in the Aerospace and Defense market of 12%.

Total net revenues increased 9% year on year primarily driven by demand growth for generative artificial intelligence (AI) applications in the data center computing end market and strong demand and improved operation execution in aerospace and defense end market.

Non-GAAP EPS increased to $1.71 per share from $1.33 per share due to higher revenues and improved operational execution.

Repurchased approximately 2.0 million shares for $34.5 million and an average price paid per share of $17.32.

ALIGNMENT OF PAY AND PERFORMANCE

TTM’s executive compensation is strongly aligned to Company performance and measurable financial metrics. The following charts show metrics that we track related to our financial performance over the past four years.(1)

For a discussion explaining the use of the Non-GAAP metrics, see Annex A attached hereto.

| TTM TECHNOLOGIES, INC. | 28 |

The charts below measure the total compensation for the CEO and the average total compensation for our NEOs for the past three years.

These charts demonstrate consistent alignment in performance-based compensation for the three-year period with the Company’s performance over such three-year period. The Company’s performance and the price of the Company’s common stock on the NASDAQ directly impacts total compensation realized by our executives.

Total compensation consists of salary paid, the value of RSUs that vested during the fiscal