Tan Victor (Pang Hau) 4

What Happened

• Victor Tan (also listed as Pang Hau), Regional President — APAC for Plexus (PLXS), exercised 2,022 derivative awards (code M) on 2026-02-17 and simultaneously disposed of 2,022 shares. He also received 602 shares as a performance-based award (code A) on the same date. Reported prices are N/A, so proceeds/values were not disclosed in the Form 4 filing.
• The 602-share award represents vested Performance Stock Units (PSUs) from the fiscal 2023 grant tied to relative total shareholder return (TSR). Per the filing footnote, the TSR portion vested at 142.4% of target (the maximum TSR payout for that component was 150%).

Key Details

• Transaction date: 2026-02-17; Form 4 filed: 2026-02-19 (timely filing).
• Actions reported: Exercise/conversion of derivatives (M) — 2,022 shares acquired and 2,022 shares disposed (suggests a cashless exercise or immediate sale of exercised shares); Grant/award (A) — 602 PSUs vested and delivered (derivative).
• Prices and total dollar amounts: listed as N/A in the filing (no sale price or proceeds disclosed).
• Shares owned after the transactions: not specified in the excerpt provided.
• Notable footnote: PSU payout related to TSR vested at 142.4% of target (see footnote F1); the reporting person could have earned up to 150% for that TSR component.

Context

• Because the exercise and disposal list identical share counts (2,022 acquired and 2,022 disposed), this appears to be a cashless exercise or same-day sale of exercised shares rather than a buy-and-hold purchase. That typically results from option exercises used to capture gains or cover option costs/taxes and does not necessarily indicate a change in long-term insider sentiment.
• The 602 shares came from performance-based awards tied to multi-year TSR performance; such vested awards reflect prior compensation decisions and company performance rather than a new market purchase.