Form 4: Sanmina Executive Acquires RSUs, Sells Shares for Tax

Sanmina's SVP, Global Controller, Vishnu Venkatesh, reported acquiring 4,000 restricted stock units and selling 808 shares to cover tax obligations.

Summary

• Vishnu Venkatesh, Sanmina Corp.'s SVP, Global Controller and Chief Accounting Officer, acquired 4,000 restricted stock units (RSUs) on December 15, 2025, at a deemed price of $158.17 per share.
• These RSUs represent a contingent right to receive one share of Sanmina common stock each.
• The acquired RSUs will vest in equal annual installments of 1,000 shares over four years, starting one year after the grant date.
• On December 16, 2025, Venkatesh disposed of 808 shares of common stock at a price of $146.84 per share.
• This disposition was to satisfy statutory tax withholding requirements related to the vesting of previously granted restricted stock units on December 16, 2024.
• Following these transactions, Venkatesh beneficially owns 24,192 shares of Sanmina common stock.

Sentiment

Score: 6

Explanation: The filing reflects routine executive compensation and tax-related transactions. The acquisition of RSUs is a positive for executive alignment, while the tax-related sale is a neutral, expected event. Overall, it's slightly positive due to the RSU grant.

Positives

• The acquisition of 4,000 restricted stock units aligns the executive's interests with long-term shareholder value through future equity ownership.
• The vesting schedule for the RSUs provides an incentive for the executive to remain with the company and contribute to its sustained performance over four years.

Negatives

• The disposition of 808 shares, while for tax purposes, reduces the executive's direct shareholding in the company.

Risks

• The value of the restricted stock units and the beneficially owned shares is subject to market fluctuations of Sanmina's common stock.
• Future changes in tax laws could impact the net benefit of equity compensation for executives.

Future Outlook

The acquired restricted stock units will vest over a four-year period, with 1,000 shares vesting annually, indicating a long-term incentive structure for the executive.

Industry Context

This filing reflects a routine executive compensation event involving restricted stock units and subsequent tax withholding, which is a common practice across publicly traded companies in various industries to incentivize and retain key management personnel.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) as a component of executive compensation is a standard practice, comparable to compensation structures at companies like Flex Ltd. (FLEX) or Jabil Inc. (JBL) in the electronics manufacturing services sector.
• The disposition of shares to cover statutory tax withholding upon RSU vesting is a routine and expected event, aligning with common practices observed in executive compensation plans across the S&P 500.

Stakeholder Impact

• Shareholders: The grant of RSUs aligns executive incentives with long-term shareholder value. The tax-related sale is a minor, routine event with no significant impact.
• Employees: This filing pertains to executive compensation and does not directly impact the broader employee base, though it reflects standard compensation practices for senior leadership.

Next Steps

• The acquired restricted stock units will vest in annual increments of 1,000 shares over the next four years, starting one year from the grant date.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation (RSU grant and tax-related share sale). It does not contain new fundamental information about the company's operations, financial performance, or strategic direction that would warrant a change in investment recommendation. The transactions are expected and do not indicate a significant shift in the company's outlook or the executive's confidence beyond standard compensation practices.

Keywords

Sanmina Corp, SANM, Form 4, Insider Transaction, Restricted Stock Units, RSU, Executive Compensation, Stock Acquisition, Tax Withholding, Beneficial Ownership