Mihm Oliver K. 4
4 · PLEXUS CORP · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Plexus (PLXS) Exec VP & COO Oliver K. Mihm Receives Equity Award
What Happened
Oliver K. Mihm, Executive Vice President & Chief Operating Officer of Plexus Corp. (PLXS), was granted two equity awards on February 9, 2026: 4,030 restricted stock units (RSUs) and 5,670 performance stock units (PSUs), a total of 9,700 contingent units. These are derivative awards (no cash purchase price reported). The RSUs vest on February 9, 2029; the PSUs vest based on a three-year performance period with portions tied to relative total shareholder return (TSR) and economic return (ER).
Key Details
- Transaction date: February 9, 2026. Form 4 filed February 11, 2026 (timely, within the typical two-business-day window).
- Awards: 4,030 RSUs (time-based; vest Feb 9, 2029) and 5,670 PSUs (performance-based). Of the PSUs, 1,640 are TSR-dependent and the remainder (4,030) are ER-dependent.
- Award plan: Plexus Corp. 2024 Omnibus Incentive Plan; awards qualify under Rule 16b-3.
- Potential payout: PSUs reported at target; TSR-based PSUs may pay up to 150% of target and ER-based PSUs up to 200% of target depending on performance.
- Price/Value: N/A for grant (no exercise/purchase price listed).
- Shares owned after transaction: Not provided in the supplied excerpt.
- Footnotes: F1 notes prior 401(k) holdings reported by the plan trustee; F2 describes RSU terms; F3 describes PSU performance metrics and payout ranges.
Context
RSUs convert into company shares on the vesting date if the executive remains employed; PSUs only convert to shares if performance targets are met over the performance period. These grants are compensation awards, not open-market purchases or sales, and do not by themselves indicate the insider is buying or selling stock. They can lead to future share issuance if vested/earned and settled.
Insider Transaction Report
- Award
Restricted Stock Units
[F2]2026-02-09+4,030→ 4,030 total→ Common Stock, $.01 par value (4,030 underlying) - Award
Performance Stock Units
[F3]2026-02-09+5,670→ 5,670 total→ Common Stock, $.01 par value (5,670 underlying)
- 981(indirect: By 401(k))
Common Stock, $.01 par value
[F1] - 22,267
Common Stock, $.01 par value
Footnotes (3)
- [F1]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.
- [F2]Each Restricted Stock Unit granted under the Plexus Corp. 2024 Omnibus Incentive Plan, which qualifies under Rule 16b-3, represents a contingent right to receive one share of Plexus Corp. common stock. The Restricted Stock Units vest on February 9, 2029.
- [F3]Each Performance Stock Unit ("PSU") granted under the Plexus Corp. 2024 Omnibus Incentive Plan, which qualifies under Rule 16b-3, represents a contingent right to receive one share of Plexus Corp. common stock if certain conditions are satisfied. Vesting of 1,640 PSUs is dependent on the relative total shareholder return ("TSR") of Plexus Corp.'s common stock as compared to companies in the S&P 400 Index and vesting of the remainder is based on goals related to economic return ("ER") during the three-year performance period. The target number of PSUs that may be earned is reported above. The reporting person may earn up to 150% of the targeted amount that is based on TSR and up to 200% of the targeted amount that is based on ER.