Form 4: Plexus CEO Todd Kelsey Sells Shares Under 10b5-1 Plan

Plexus Corp President and CEO Todd Kelsey sold 1,500 shares of common stock for approximately $379,150 under a pre-arranged trading plan.

Summary

• Todd P. Kelsey, President and CEO of Plexus Corp, sold a total of 1,500 shares of common stock on May 20, 2026.
• The transactions were executed in two tranches: 700 shares at a weighted average price of $252.1991 and 800 shares at a weighted average price of $253.2638.
• Total proceeds from the sales amounted to approximately $379,150.
• Following these transactions, Kelsey directly owns 72,388 shares of the company.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on November 20, 2025.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event; while it is an insider sale, the use of a 10b5-1 plan and the small size of the trade relative to total holdings mitigate negative implications.

Positives

• The sales were executed under a Rule 10b5-1 plan, which provides an affirmative defense against insider trading by scheduling trades in advance.
• Kelsey retains a substantial ownership stake of 72,388 shares, suggesting continued long-term alignment with shareholder interests.
• The sale represents a very small percentage (approximately 2%) of the CEO's total direct holdings.

Negatives

• Executive divestment can sometimes be interpreted by the market as a signal that the stock may be reaching a near-term valuation peak.
• The weighted average sale prices were achieved through multiple trades, indicating the need to spread the volume to maintain price stability.

Risks

• Potential for negative investor sentiment if the market perceives the CEO's sale as a lack of confidence, despite the use of a 10b5-1 plan.

Future Outlook

The use of a Rule 10b5-1 plan suggests that additional scheduled sales may occur in the future as part of the CEO's personal financial planning and diversification strategy.

Management Comments

• The reporting person undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request.

Industry Context

StockSavvy.ai notes that in the Electronics Manufacturing Services (EMS) sector, it is common for top-tier executives to utilize 10b5-1 plans to manage liquidity, especially when stock prices reach historical highs or specific valuation milestones.

Comparison to Industry Standards

• The CEO's remaining stake of 72,388 shares is robust compared to peer CEOs in the mid-cap technology manufacturing space.
• The transaction volume is significantly lower than recent large-scale divestments seen at larger competitors like Jabil Inc. or Celestica.
• Adherence to 10b5-1 protocols aligns with best-in-class corporate governance standards for S&P 400 companies.

Related Party Transactions

• The reporting person is the President, CEO, and a Director of the issuer, making the stock sale a related party transaction by definition under Section 16.

Stakeholder Impact

• Shareholders: Minimal impact due to the low volume of shares sold relative to the company's total market capitalization.
• Market: Provides transparency regarding executive liquidity actions.

Next Steps

• Monitor for subsequent Form 4 filings to determine if this is part of a recurring monthly or quarterly sell program.

Key Dates

Recommendation

The insider sale is routine and planned, reflecting personal financial management rather than a fundamental shift in company prospects. Investors should maintain current positions pending broader financial performance updates.

Keywords

Plexus Corp, PLXS, Todd Kelsey, CEO Stock Sale, Rule 10b5-1, Insider Trading, Electronics Manufacturing Services, Form 4