Form 4: Plexus Corp Executive Angelo Michael Ninivaggi Jr. Reports Acquisition of Restricted and Performance Stock Units

Angelo Michael Ninivaggi Jr., an executive at Plexus Corp, reported the acquisition of restricted stock units and performance stock units on February 3, 2025.

Summary

• On February 3, 2025, Angelo Michael Ninivaggi Jr., Exec VP, CAO, Gen Coun & Secy of Plexus Corp, acquired restricted stock units and performance stock units.
• He acquired 4,060 restricted stock units that vest on February 3, 2028.
• He also acquired 4,060 performance stock units, vesting of 2,030 PSUs is dependent on the relative total shareholder return of Plexus Corp.'s common stock as compared to companies in the S&P 400 Index and vesting of the remainder is based on goals related to economic return during the three-year performance period.
• Following these transactions, Ninivaggi directly owns 32,184 shares of Plexus Corp common stock.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing executive compensation. It doesn't contain overtly positive or negative information, but the granting of stock units suggests confidence in the company's future performance.

Positives

• The acquisition of restricted stock units and performance stock units aligns the executive's interests with the long-term performance of the company.
• The performance stock units are tied to specific metrics (TSR and economic return), incentivizing the executive to achieve these goals.

Risks

• The value of the restricted stock units and performance stock units is contingent on the future performance of Plexus Corp.'s stock.
• The vesting of the performance stock units is dependent on achieving specific TSR and economic return targets, which may not be met.

Future Outlook

The vesting of the performance stock units is tied to the company's future performance, specifically TSR relative to the S&P 400 and economic return over a three-year period.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the compensation structure and alignment of executive interests with shareholder value.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, stock options, restricted stock units, and performance-based incentives.
• The use of TSR and economic return as vesting conditions for performance stock units is a common practice to align executive compensation with shareholder value creation.
• Companies like Jabil and Flex, which are also in the electronics manufacturing services industry, often use similar compensation structures for their executives.

Stakeholder Impact

• Shareholders may view the granting of stock units as a positive sign, aligning executive interests with long-term value creation.
• Employees may see this as a standard part of executive compensation.

Key Dates