Form 4: Plexus COO Oliver Mihm Reports Stock Transactions

Plexus Corp. Executive VP & COO Oliver K. Mihm reported multiple transactions including PSU vesting, tax-related dispositions, and a gift of common stock.

Summary

• Oliver K. Mihm, Executive VP & COO of Plexus Corp. (PLXS), reported several transactions involving the company's common stock and Performance Stock Units (PSUs).
• Mihm acquired 5,023 shares of common stock through the vesting of PSUs on November 12, 2025.
• On the same date, 2,361 shares of common stock were disposed of at a price of $146.24 per share, likely for tax withholding related to the vesting.
• Additionally, 1,100 shares of common stock were disposed of as a bona fide gift on November 12, 2025.
• Mihm also acquired 1,383 Performance Stock Units on November 12, 2025.
• The filing indicates 981 shares of Plexus Corp. common stock are held indirectly in the Plexus Corp. 401(k) Retirement Plan.
• Following these transactions, Mihm beneficially owns 20,769 shares of common stock directly and 3,060 derivative Performance Stock Units directly.

Sentiment

Score: 5

Explanation: The filing is a factual report of routine insider transactions, including both acquisitions (vesting) and dispositions (tax withholding, gift), without indicating a strong positive or negative sentiment for the company's overall prospects.

Positives

• 138% of the portion of Performance Stock Units (PSUs) granted in fiscal 2023 related to economic return goals vested, indicating strong company performance in this area.

Negatives

• No inherently negative events were reported; dispositions were for tax withholding and a bona fide gift, which are routine for executive compensation.

Future Outlook

The three-year performance period for the portion of Performance Stock Units that vests based on the relative total shareholder return (TSR) of the company's common stock, as compared to companies in the S&P 400 Index, has yet to conclude.

Management Comments

• Based on company performance during the three-year performance period, 138% of the portion of the Performance Stock Units granted in fiscal 2023 related to economic return goals vested.
• The reporting person had the opportunity to earn up to 200% of the targeted amount based on economic return and up to 150% of the targeted amount based on total shareholder return.

Industry Context

This Form 4 filing is a standard disclosure for executives of publicly traded companies, detailing changes in their beneficial ownership of company securities. Such filings provide transparency into insider trading activities, which are routinely monitored by investors.

Comparison to Industry Standards

• Not applicable. This filing details individual insider transactions rather than company performance metrics that can be directly compared to industry benchmarks or specific competitor results.

Related Party Transactions

• A bona fide gift of 1,100 shares of common stock was made by the reporting person.

Stakeholder Impact

• Shareholders receive transparency regarding executive stock ownership and compensation, which is a routine aspect of corporate governance.
• The transactions are standard for executive compensation and do not indicate a direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The conclusion of the three-year performance period for the Total Shareholder Return (TSR) portion of the Performance Stock Units is pending.

Key Dates

Keywords

Plexus, PLXS, Form 4, Insider Transaction, Executive Compensation, Performance Stock Units, Common Stock, Stock Vesting