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PLEXUS CORP·4

Feb 19, 5:24 PM ET

Mihm Oliver K. 4

Research Summary

AI-generated summary

Updated

Plexus (PLXS) Exec VP/COO Oliver K. Mihm Sells Shares

What Happened

  • Oliver K. Mihm, Executive Vice President & COO of Plexus Corp. (PLXS), exercised options and received shares, had performance stock units vest, and sold stock. He exercised/converted 4,357 derivative shares on Feb 17, 2026 and received a grant/vesting of 1,297 PSUs. He sold 2,226 shares on Feb 17 for $198.78 each ($442,495) and sold 9,541 shares on Feb 18 for a weighted average price of $201.40 ($1,921,557). Separately, 2,048 shares were surrendered to cover exercise price and/or tax withholding at $195.95, valued at $401,306.

Key Details

  • Transaction dates and prices:
    • 2026-02-17: Exercise of 4,357 derivative shares (M); 2,226 shares sold at $198.78 ($442,495); 2,048 shares withheld for tax/exercise at $195.95 ($401,306).
    • 2026-02-18: Open-market sale of 9,541 shares at a weighted average $201.40 ($1,921,557). (Per footnote, the Feb 18 sale executed in multiple trades at $201.40–$201.41.)
    • 2026-02-17: Grant/vesting of 1,297 PSUs (A).
  • Total open-market sale proceeds: approximately $2,364,052 (11,767 shares). Tax/exercise withholding: 2,048 shares valued at ~$401,306.
  • Shares owned after transaction: not disclosed in the provided filing.
  • Footnotes of note:
    • F2: The 1,297 PSUs reflect a 142.4% payout of the fiscal‑2023 PSU TSR component (up to 150% possible).
    • F3: Feb 18 sale executed in multiple trades; reported price is weighted average.
    • F1: references shares held in the company 401(k) plan in prior reports.
  • Filing timeliness: Form 4 was filed Feb 19, 2026 reporting transactions from Feb 17–18; this appears to be a timely filing.

Context

  • This sequence looks like a common cashless exercise/settlement: options/derivative awards were exercised/converted, some shares were surrendered to cover taxes or exercise costs, and remaining shares were sold in the open market. Sales are routine liquidity actions and do not by themselves indicate management’s view on long‑term company prospects.
  • The PSU grant reflects a performance-based vesting (relative TSR vs. S&P 400) and was paid out at above-target performance (142.4%).