Form 4: Plexus Corp. Executive VP & CFO, Patrick Jermain, Reports Stock and Unit Awards

Patrick Jermain, Executive VP & CFO of Plexus Corp., reports the acquisition of restricted stock units and performance stock units.

Summary

• Patrick Jermain, the Executive VP & CFO of Plexus Corp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates the acquisition of 7,210 Restricted Stock Units (RSUs) and 7,210 Performance Stock Units (PSUs) on February 3, 2025.
• The RSUs vest on February 3, 2028, and each represents a contingent right to receive one share of Plexus Corp. common stock.
• The PSUs also represent a contingent right to receive one share of Plexus Corp. common stock, with vesting dependent on relative total shareholder return (TSR) compared to the S&P 400 Index and economic return (ER) during a three-year performance period.
• Mr. Jermain also directly owns 24,332 shares of Plexus Corp. common stock and indirectly owns 3,599 shares through a 401(k) plan.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The filing reflects standard executive compensation practices and aligns management incentives with shareholder value. There are no explicit negative indicators.

Positives

• The granting of RSUs and PSUs aligns executive compensation with the company's long-term performance and shareholder value.
• The vesting conditions based on TSR and ER incentivize management to improve Plexus Corp.'s financial performance and market position.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting of PSUs is tied to future performance metrics.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The granting of stock-based compensation is a common practice in the industry to align management interests with shareholder value.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, particularly in the technology and manufacturing sectors where Plexus Corp. operates.
• Companies like Jabil and Flex also utilize similar equity-based compensation plans to incentivize their executives.
• The vesting schedules and performance metrics (TSR and ER) are typical benchmarks used in the industry to ensure that compensation is tied to tangible results.

Stakeholder Impact

• Shareholders: The granting of RSUs and PSUs can be viewed positively as it aligns management's interests with shareholder value.
• Employees: The document itself doesn't directly impact employees, but the overall compensation structure can influence employee morale and retention.

Key Dates