Shawn Powers
TTM TECHNOLOGIESAbout Shawn Powers
Shawn Powers, 51, is Executive Vice President and Chief Human Resources Officer (CHRO) of TTM Technologies, serving in the role since June 2021 after advancing from Senior Vice President of Human Resources (2015–2021) and joining TTM in 2014 as VP of HR for the North America Business Unit . He holds a Master of International Affairs and a BS in biomedical science from Texas A&M University and has GPHR and SHRM‑SCP certifications . Company performance during his tenure has strengthened: in Q3 2025, net sales rose 22.1% year over year to $752.7M and operating margin improved to 9.6% ; the 2022 PRU cycle paid 93.3% of target after a TSR percentile of 38% triggered an 88% TSR modifier . The company is executing growth investments (Eau Claire facility, Penang land rights, Syracuse advanced PCB plant ramp), aligned to data center computing/networking demand and national security needs .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| TTM Technologies | EVP & CHRO | Jun 2021–present | Not disclosed |
| TTM Technologies | SVP, Human Resources | Feb 2015–Jun 2021 | Not disclosed |
| TTM Technologies | VP, HR – North America Business Unit | Early 2014–2015 | Not disclosed |
| Kleinfelder (engineering & sciences) | Global VP of Human Resources | 2012–2014 | Not disclosed |
| IMI plc (FTSE 100 manufacturing) | Senior Director of Global Human Resources | 2006–2012 | Not disclosed |
| U.S. Military | Army Aviation Officer | Early career | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kleinfelder | Global VP of Human Resources | 2012–2014 | Not disclosed |
| IMI plc | Senior Director of Global Human Resources | 2006–2012 | Not disclosed |
Fixed Compensation
| Component | 2024/2025 Disclosure for Shawn Powers | Notes |
|---|---|---|
| Base Salary | No individual disclosure found in 2025 DEF 14A | Powers is listed as an executive officer, but NEO tables cover CEO, CFO, and sector presidents only |
| Target Bonus % | No individual disclosure found in 2025 DEF 14A | Annual executive incentive plan uses operating income and operating cash flow as % of revenues |
| Actual Bonus Paid | No individual disclosure found in 2025 DEF 14A | Proxy shows payouts for NEOs, not CHRO |
| Perquisites | Not disclosed | — |
Executive ownership guidelines: CEO direct reports must reach ownership equal to 3× base salary within five years; hedging and pledging are prohibited .
Performance Compensation
| Program/Instrument | Metric | Weighting | Target Definition | Actual Results | Payout Mechanics | Vesting |
|---|---|---|---|---|---|---|
| Annual Incentive (TIP) | Operating income; operating cash flow as % of revenues | Not specified (plan uses both) | Annual plan targets set by committee | Not disclosed for CHRO | Payout based on attainment vs targets | Annual cash bonus |
| PRUs (performance-based RSUs) | Revenue (annual) | Equally weighted with EBITDA within annual metric | Annual budget targets | 2022 blended multiplier 111.0% | Banked annually; final shares adjusted by TSR modifier | 3-year cycle ends with share release |
| PRUs | Adjusted EBITDA (annual) | Equally weighted with revenue within annual metric | Annual budget targets | 2023 blended multiplier 89.4%; 2024 blended multiplier 99.7% | Banked annually; final shares adjusted by TSR modifier | 3-year cycle |
| PRUs TSR Modifier | Relative TSR percentile | 20% additive modifier | TSR vs defined peer group | 38th percentile for 2022 cycle → 88% TSR modifier | Final payout for 2022 PRUs: 93.3% of target | Final shares released Feb 11, 2025 |
| RSUs (time-based) | Service | — | Standard schedule | — | — | Vests 1/3 per year over 3 years |
Equity grant sizing uses a six‑month trailing average closing price; grants are approved at scheduled meetings with no MNPI timing, under the 2023 plan overseen by the Human Capital & Compensation Committee .
Equity Ownership & Alignment
| Item | Details |
|---|---|
| Beneficial ownership | Not individually disclosed for Powers in the beneficial ownership table; group ownership (22 persons) totals 1.3% of shares outstanding |
| Stock ownership guidelines | CEO’s direct reports must reach 3× base salary within five years; compliance status for Powers not disclosed |
| Hedging/pledging | Prohibited for executive officers (no derivatives, short sales, or pledging) |
| 10b5‑1 trading plan | Adopted Aug 29, 2025; Rule 10b5‑1 plan with capacity to sell up to 15,000 shares through Nov 30, 2026; separate sell‑to‑cover 10b5‑1 plan for RSU/PRU tax withholding with expiration Jun 30, 2026 |
Employment Terms
| Term | Provision |
|---|---|
| Role start date | CHRO since June 2021; executive officer tenure since 2015 in senior HR roles |
| Severance (Change‑in‑Control) | Double‑trigger; lump sum equal to 2× (base salary + annual target bonus); 12‑month non‑solicitation; no tax gross‑ups; immediate vesting of unvested RSUs/PRUs if awards are not assumed or if terminated within 12 months post‑CoC; otherwise continued vesting if awards are assumed |
| Clawback | Restatement-triggered mandatory recoupment of incentive compensation; material Code of Conduct violation may trigger reimbursement/forfeiture of compensation for prior 3 completed fiscal years |
| Equity vesting terms | RSUs vest one‑third annually over three years; PRUs have three‑year cycles with annual revenue/EBITDA metrics and TSR modifier; PRU payout range 0–200% beginning 2023 grants |
Company Operating Performance (last 4 quarters)
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenues ($USD) | 650,965,000* | 648,668,000 | 730,621,000 | 752,736,000 |
| EBITDA ($USD) | 82,235,000* | 87,061,000* | 100,093,000* | 109,220,000* |
| EBITDA Margin (%) | 12.63%* | 13.42%* | 13.70%* | 14.51%* |
| Operating Income ($USD) | 46,461,000* | 50,974,000* | 63,177,000* | 72,415,000* |
Values retrieved from S&P Global.*
Additional 2025 context: net sales increased by $136.2M (+22.1% YoY) in Q3 2025 to $752.7M; operating income reached $71.9M; demand strength in A&D, data center computing and networking (AI), and normalized medical/industrial/instrumentation; segment investments in Eau Claire and Penang, and the Syracuse advanced PCB facility ramp are underway .
Investment Implications
- Pay‑for‑performance alignment: Annual incentives tie to operating income and operating cash flow as a percentage of revenues; long‑term PRUs blend revenue, EBITDA, and relative TSR (20% modifier) with multi‑year measurement, supporting durable value creation alignment .
- Insider selling pressure and liquidity: Powers’ Rule 10b5‑1 plan permits sales up to 15,000 shares through Nov 30, 2026, with a separate sell‑to‑cover plan for tax withholding; without disclosed individual holdings, magnitude appears limited, but these programs indicate scheduled liquidity events .
- Retention and CoC economics: Double‑trigger CoC severance (2× salary+target bonus) and accelerated vesting if not assumed or terminated within 12 months of CoC reduce retention risk during strategic transactions; non‑solicit and robust clawback mitigate adverse behaviors .
- Ownership discipline: 3× salary ownership requirement for CEO direct reports and prohibitions on hedging/pledging support alignment; compliance status for Powers not disclosed, a monitoring item for governance analysts .
- Execution backdrop: Strong FY25 momentum tied to AI‑driven end markets and capacity additions enhances incentive attainability and potential PRU outcomes, a constructive setup for management performance assessment .