Plexus Corp (PLXS) CFO reports stock sale, PSU vesting and tax share withholding
Rhea-AI Filing Summary
Plexus Corp. executive Patrick J. Jermain, Exec. VP & CFO, reported multiple equity transactions in Plexus Corp. (PLXS). On 02/12/2026, he completed an open-market sale of 2,321 shares of common stock at $201.1229 per share, leaving 14,561 directly held shares afterward.
On 02/17/2026, 5,611 Performance Stock Units were exercised/converted into common stock, increasing his direct holdings to 20,172 shares. In a separate tax-related move that same day, 2,638 shares were disposed of at $195.95 to cover tax obligations, resulting in 17,534 directly held shares.
The filing also shows 3,751 shares of common stock held indirectly in the Plexus Corp. 401(k) Retirement Plan. A footnote explains that, based on company performance over a three-year period, 142.4% of the portion of fiscal 2023 Performance Stock Units tied to relative total shareholder return vested, versus a maximum opportunity of up to 150%.
Positive
- None.
Negative
- None.
Insights
Routine mix of PSU vesting, tax withholding, and a modest open-market sale.
The transactions show performance-based equity vesting and related share movements for Exec. VP & CFO Patrick J. Jermain. On 02/17/2026, 5,611 Performance Stock Units converted into common stock at an exercise price of $0.00, reflecting earned long-term incentives.
On the same date, 2,638 shares were disposed of at $195.95 under code F, meaning they were used to satisfy tax obligations rather than discretionary selling. Earlier, on 02/12/2026, he executed an open-market sale of 2,321 shares at $201.1229 per share, while maintaining a remaining direct stake of 17,534 shares plus 3,751 shares in a 401(k) plan.
A footnote indicates that for fiscal 2023 PSUs tied to relative total shareholder return versus the S&P 400 Index, 142.4% of the relevant target portion vested, below the 150% maximum opportunity. Overall, these are standard compensation- and tax-driven insider movements, with no clear indication of a change in strategic outlook.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units | 1,671 | $0.00 | -- |
| Exercise | Performance Stock Units | 5,611 | $0.00 | -- |
| Exercise | Common Stock, $.01 par value | 5,611 | $0.00 | -- |
| Tax Withholding | Common Stock, $.01 par value | 2,638 | $195.95 | $517K |
| Sale | Common Stock, $.01 par value | 2,321 | $201.1229 | $467K |
| holding | Common Stock, $.01 par value | -- | -- | -- |
Footnotes (1)
- Shares of Plexus Corp. common stock held in the Plexus Corp. 401(k) Retirement Plan as of the last report from the Plan's trustee. Based on Company performance during the three-year performance period, 142.4% of the portion of the Performance Stock Units ("PSUs") granted in fiscal 2023 related to the relative total shareholder return ("TSR") of the Company's common stock as compared to companies in the S&P 400 Index vested. As previously disclosed, the reporting person had the opportunity to earn up to 150% of the targeted amount of PSUs based on TSR originally reported.
