Form 4: Plexus CFO Granted 9,700 Equity Awards

Plexus Corp.'s Executive VP and CFO, Patrick John Jermain, received grants of 4,030 Restricted Stock Units and 5,670 Performance Stock Units on February 9, 2026.

Summary

• Patrick John Jermain, Executive VP & CFO of Plexus Corp. (PLXS), was granted equity awards on February 9, 2026.
• The grants include 4,030 Restricted Stock Units (RSUs) and 5,670 Performance Stock Units (PSUs).
• RSUs vest on February 9, 2029, with each unit representing a contingent right to one share of common stock.
• PSUs have a three-year performance period, with vesting tied to Plexus Corp.'s relative total shareholder return (TSR) against the S&P 400 Index and economic return (ER) goals.
• The target number of PSUs is 5,670, with potential to earn up to 150% for TSR-based units and up to 200% for ER-based units.
• These awards were granted under the Plexus Corp. 2024 Omnibus Incentive Plan.
• Jermain also beneficially owns 3,751 shares indirectly through a 401(k) and 16,882 shares directly.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as it signifies continued executive commitment and aligns management incentives with long-term shareholder value through performance-based equity awards.

Positives

• Grant of equity awards to a key executive aligns management's interests with shareholder value creation.
• Performance Stock Units (PSUs) are tied to specific performance metrics (TSR and ER), incentivizing strong company performance.
• The potential to earn up to 150% and 200% of target PSUs provides a strong incentive for outperformance.

Future Outlook

The vesting of Performance Stock Units over a three-year period, tied to relative total shareholder return and economic return goals, indicates a focus on long-term performance and shareholder value creation.

Industry Context

StockSavvy.ai notes that equity grants, particularly those with performance-based vesting like PSUs, are a common practice in the technology and manufacturing services industry to attract, retain, and incentivize top executive talent. This aligns Plexus's executive compensation strategy with broader industry trends aimed at linking executive pay to company performance and shareholder returns.

Comparison to Industry Standards

• The use of both time-based Restricted Stock Units (RSUs) and performance-based Performance Stock Units (PSUs) is a standard practice in executive compensation across many industries, including electronics manufacturing services (EMS) and technology.
• Tying PSU vesting to relative Total Shareholder Return (TSR) against the S&P 400 Index is a robust benchmark, comparable to practices seen at companies like Jabil Inc. (JBL) or Celestica Inc. (CLS), which often use similar market-based performance metrics.
• Including Economic Return (ER) goals as a vesting condition for PSUs is also a sophisticated approach, aligning with best practices for internal capital allocation efficiency, similar to how companies like Flex Ltd. (FLEX) might structure their long-term incentives to drive profitable growth.

Corporate Governance

Related Party Transactions

• The equity grants to Executive VP & CFO Patrick John Jermain are part of an executive compensation plan, representing a standard related-party transaction between the company and its executive.

Stakeholder Impact

• Shareholders: Potential positive impact due to increased alignment of executive incentives with shareholder value creation through performance-based awards.
• Employees: No direct impact mentioned for general employees, but may signal stability in executive leadership.

Next Steps

• Vesting of Restricted Stock Units on February 9, 2029.
• Evaluation of Performance Stock Units against TSR and ER goals over a three-year performance period.

Key Dates

Recommendation

This Form 4 filing details routine equity grants to a key executive, which is a standard practice for executive compensation and alignment. While positive for long-term incentive alignment, it does not present new information that would significantly alter the fundamental outlook or warrant a change in investment recommendation based solely on this filing. Investors should hold their position and consider broader company performance and market conditions.

Keywords

Plexus Corp, PLXS, Form 4, Insider Trading, Equity Grant, Restricted Stock Units, Performance Stock Units, Executive Compensation, Patrick John Jermain, CFO