Company: TTMI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024839
Chunk: 157

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 157
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 simulation model, as the TSR modifier contains a market condition. The following assumptions were used in determining the fair value: 

        For the Year Ended

        December 30, 2024 (1)

        January 1, 2024 (2)

        January 2, 2023 (3)

        Weighted-average fair value
         
        $
        19.51

        $
        16.36

        $
        15.02

        Risk-free interest rate

        4.42
        %

        4.46
        %

        1.44
        %

        Dividend yield

        —

        —

        —

        Expected volatility

        41
        %

        42
        %

        30
        %
       
       (1)Reflects the weighted-averages for the third year of the three-year performance period applicable to PRUs granted in 2022, the second year of the three-year performance period applicable to PRUs granted in 2023, and the first year of the three-year performance period applicable to PRUs granted in 2024.(2)Reflects the weighted-averages for the third year of the three-year performance period applicable to PRUs granted in 2021, the second year of the three-year performance period applicable to PRUs granted in 2022, and the first year of the three-year performance period applicable to PRUs granted in 2023.(3)Reflects the weighted-averages for the third year of the three-year performance period applicable to PRUs granted in 2020, the second year of the three-year performance period applicable to PRUs granted in 2021, and the first year of the three-year performance period applicable to PRUs granted in 2022.The risk-free interest rate for the expected term of PRUs is based on the U.S. Treasury yield curve in effect at the time of grant. Expected volatility is calculated using the Company’s historical stock price.Restricted Stock UnitsRSU activity for the year ended December 30, 2024 was as follows: 

        Shares

        Weighted AverageGrant-Date Fair Value

        (In thousands)

        Non-vested RSUs outstanding as of January 1, 2024

        3,453

        $
        13.52

        Granted

        1,794

        19.32

        Vested

        (1,615
        )

        18.