Form 4: Plexus Corp Executive Angelo Ninivaggi Reports Stock Transactions

Angelo Ninivaggi, an executive at Plexus Corp, reported the vesting and disposal of performance stock units (PSUs) and common stock transactions on February 11, 2025.

Summary

• On February 11, 2025, Angelo Michael Ninivaggi Jr., Executive VP, CAO, General Counsel & Secretary of Plexus Corp, reported transactions involving the company's stock.
• These transactions included the vesting of 3,300 Performance Stock Units (PSUs) and the disposal of 1,551 shares of common stock to cover tax obligations.
• The vesting of the PSUs was based on the company's performance during a three-year period, specifically related to the relative total shareholder return (TSR) compared to companies in the S&P 400 Index.
• The PSUs vested at 150% of the target amount due to the company's TSR performance.
• Following these transactions, Ninivaggi directly owns 33,933 shares of Plexus Corp common stock.

Sentiment

Score: 7

Explanation: The document indicates positive performance as the PSUs vested at 150% of the target. The insider is reducing their position to cover taxes which is normal.

Positives

• The vesting of PSUs at 150% indicates strong company performance relative to the S&P 400 Index during the performance period.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders (officers, directors, or those holding more than 10% of the company's shares) buy or sell the company's securities. These filings provide transparency into insider transactions and can be used by investors to gauge management's sentiment about the company's prospects.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards like PSUs to align management's interests with those of shareholders.
• The vesting of PSUs based on TSR relative to the S&P 400 is a common practice to incentivize outperformance compared to a broad market index.
• The 150% vesting level suggests that Plexus Corp's TSR performance was strong compared to its peers in the S&P 400 during the performance period.

Stakeholder Impact

• The vesting of PSUs at 150% could be viewed positively by shareholders as it reflects strong company performance.
• The disposal of shares to cover tax obligations is a routine transaction and is unlikely to have a significant impact on stakeholders.

Key Dates