Thomas Clapprood

About Thomas Clapprood

Thomas Clapprood, age 55, is President of the Radar Systems and Sensors Business Unit within TTM’s Aerospace & Defense Sector, a role he has held since January 2023. He previously served as TTM’s Vice President of Sales & Marketing for the North America Business Unit from December 2010 to December 2022. Clapprood began his career at Northrop Grumman (Regional Business Director, 1995–2004), then joined Tyco Printed Circuit Group (now TTM Technologies) in several management positions including Director of Sales and Business Director for Specialty Assembly until 2012. He holds a bachelor’s degree in business management from Elon University .

Company performance during his leadership period in A&D included 12% revenue growth in the Aerospace & Defense market in 2024, cash flow from operations of $236.9M, and a 9% YoY increase in total net revenues. In 2023, A&D organic revenue grew 6% and cash flow from operations was $187.3M; Non-GAAP EPS rose to $1.71 in 2024 from $1.33 in 2023, reflecting demand growth and improved execution .

Past Roles

External Roles

No external directorships or committee roles for Clapprood are disclosed in the proxy statements .

Fixed Compensation

TTM discloses detailed compensation only for Named Executive Officers (NEOs), and Clapprood is not listed among NEOs. Consequently, his base salary, target bonus %, and actual bonus payouts are not itemized in the company’s proxy statements .

Performance Compensation

TTM’s executive incentive architecture applies company-wide with metrics and weights tailored by role. For 2024, bonus awards were tied primarily to Operating Income and Cash Flow as % of Revenue; sector-responsible executives also had Sector Operating Income components, plus individual goals. Company-wide 2024 performance was certified at 102.3% of the global operating income target and 100.9% of the cash flow from operations as a percentage of revenue goal. Executives can earn between 0% and 200% of target; weights for NEOs in 2024 are shown below as a template of program design .

• Annual bonus metrics framework (2024): Operating Income (global), Cash Flow from Operations as % of Revenue (global), Sector Operating Income (for sector leaders), Individual Goals .
• Certified 2024 results: Global Operating Income 102.3% of target; Global Cash Flow as % of Revenue 100.9% of target .
• PRUs: Equal weighting of revenue and adjusted EBITDA across rolling three-year performance periods, plus an additive TSR modifier (payout minimum threshold applies; max cap 200%) .
• RSUs: Time-vested, standard three-year vest schedule (one-third per year) .

Note: While this framework governs executive officers broadly, individual weights disclosed are for NEOs; Clapprood’s precise weights and targets are not separately disclosed .

Equity Ownership & Alignment

• Ownership policy: Executives are prohibited from pledging and hedging company stock; CEO ownership guideline is 5x salary and CEO direct reports are 3x salary, measured over five years. Applicability and compliance status for Clapprood are not disclosed .

• Insider transactions and current holdings:

  • Aug 5, 2025: Sold 15,000 shares at ~$44.6785; proceeds ≈ $670,177; post-transaction direct holdings reported at 23,531 shares .
  • May 30, 2025: Sold 10,000 shares; proceeds ~$294,987 .
  • Jun 23, 2025: Sold 3,364 shares; proceeds ~$122,287 .
  • Jun 24, 2025: Equity award acquisition of 7,858 shares (RSU/PRU settlement) .
  • May 7, 2024: Form 4 filed as Officer “President A&D Radar Systems” (transaction details in filing) .

Insider selling pattern and windows:

• Multiple sales in May–August 2025, including a Rule 144 notice and subsequent Form 4 sale, indicate active disposal around mid-year—consistent with typical annual vesting cycles for RSUs in June, although Clapprood-specific vest counts/dates are not disclosed .

Employment Terms

• Severance and change-of-control: TTM has “Executive Change in Control Severance Agreements” for NEOs (CEO, CFO, sector presidents, COO) providing 2x salary + target bonus and full acceleration of unvested RSUs/PRUs upon qualifying terminations within 12 months post-change-of-control (double-trigger). It also includes a 12-month non-solicit and confidentiality obligations; PRU calculation at change-of-control uses target or pro-forma metrics plus any remaining target portion. Clapprood is not listed among NEOs in the severance agreement disclosure; his specific agreement terms are not disclosed .
• RSU retirement/termination proration and early retirement provisions are defined in the RSU agreement for executives generally, but individual application to Clapprood is not disclosed .

Investment Implications

• Alignment: Company-wide incentive structure balances short-term cash metrics (Operating Income, Cash Flow %) with multi-year PRUs (Revenue, Adjusted EBITDA, TSR), which generally supports pay-for-performance alignment across executive ranks and discourages excessive risk-taking. RSUs vest over three years, bolstering retention .
• Retention risk: Clapprood’s individual compensation, severance, and equity grant sizes are not disclosed, limiting precision on his retention economics. However, the mid-2025 sequence of sales (Rule 144 and Form 4) suggests periodic liquidity around vest dates; continued net selling could signal personal diversification or reduce incremental alignment unless offset by ongoing grants. Monitor future Form 4s and annual grant disclosures for trend persistence .
• Trading signals: Recurrent insider sales in May–August 2025 totaled over 28,000 shares (10,000 + 3,364 + 15,000), with proceeds >$1.08M, modest relative to float but relevant as potential short-term supply near vesting windows. Use these dates as reference points for anticipated selling pressure around June–August unless insider activity moderates or grant cadence changes .

Notes:

• NEO-specific weights and payouts are disclosed; Clapprood’s precise incentives are not itemized in proxies. The framework above reflects company policy applied to executive officers; individual terms may vary by role .
• Executives are prohibited from pledging/hedging; ownership guideline applicability to Clapprood is not disclosed .