Form 4: Plexus Corp Executive Victor Tan Reports Stock Transactions Following PSU Vesting

Regional President of APAC at Plexus Corp, Victor Tan, reports the vesting and subsequent disposal of Performance Stock Units (PSUs) based on the company's performance relative to the S&P 400 Index.

Summary

• Victor Tan, Regional President APAC of Plexus Corp, filed a Form 4 detailing changes in beneficial ownership.
• On February 11, 2025, Performance Stock Units (PSUs) vested based on the company's performance during a three-year period.
• The vesting was determined by the relative total shareholder return (TSR) of Plexus Corp's common stock compared to companies in the S&P 400 Index.
• 150% of the portion of the PSUs granted in fiscal 2022 related to the relative TSR vested.
• Mr. Tan acquired 585 PSUs and disposed of 1,755 shares of common stock.
• Following these transactions, Mr. Tan beneficially owns 11,723 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a routine filing related to executive compensation and stock transactions, with no inherent positive or negative sentiment.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often related to compensation plans and performance-based incentives. The vesting of PSUs tied to TSR relative to the S&P 400 Index is a typical method for aligning executive compensation with shareholder value.

Comparison to Industry Standards

• Performance-based equity compensation, such as PSUs, is a standard practice among S&P 400 companies to incentivize executives.
• The vesting of PSUs based on TSR relative to an index like the S&P 400 is a common benchmark for measuring performance.
• Companies like Jabil and Flex also utilize similar performance-based equity compensation plans for their executives.

Stakeholder Impact

• The vesting of PSUs and subsequent stock transactions can have a minor impact on shareholders by slightly increasing the number of shares available in the market.

Key Dates