Running Michael J. 4

What Happened

• Michael J. Running, Regional President – AMER at Plexus Corp (PLXS), reported the conversion/exercise of 1,096 performance-based derivative awards into common stock on 2026-02-17. As part of the vesting/settlement, 516 shares were withheld to satisfy tax withholding at $195.95 per share (value = $101,110). The filing also reports an award/grant of 326 derivative shares (reported as an acquisition).

Key Details

• Transaction date: 2026-02-17; Filing date: 2026-02-19 (filed within the Form 4 deadline).
• Conversion/exercise reported: 1,096 shares (derivative conversion).
• Tax withholding: 516 shares disposed to cover taxes at $195.95 per share = $101,110.
• Award/grant: 326 derivative shares reported as acquired.
• Shares owned after transaction: Not disclosed in this filing.
• Footnote: PSUs from fiscal 2023 vested at 142.4% of the target amount for the portion tied to relative TSR vs. the S&P 400 (opportunity had been up to 150%). This explains why the vested amount differed from the original target.
• Codes: M = exercise/conversion of derivative; F = tax withholding; A = grant/award.

Context

• These transactions reflect vesting/settlement of performance stock units (PSUs) rather than an open‑market buy or sell; the 516-share disposition is a routine tax withholding (share surrender/cashless withholding), not necessarily a market sale indicating sentiment.
• For retail investors, awards and withholding are common when executives receive PSUs; purchases are more notable as a bullish signal, while vesting/withholding are typically administrative.