PLEXUS CORP
For the period ended Feb 11, 2025. Filed Dec 13, 2024.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Feb 11, 2025 · Filed Dec 13, 2024
Contents
PAY VERSUS PERFORMANCE
The information below presents the relationship between the compensation of the company’s NEOs and certain performance measures in accordance with Item 402(v) of Regulation S-K (“Pay Versus Performance Table”). For a discussion of the company’s compensation programs and pay for performance philosophy, please refer to the section captioned “Compensation Discussion and Analysis,” above.
PAY VERSUS PERFORMANCE TABLE
The information below presents the relationship between compensation actually paid (CAP) of the company’s NEOs and certain performance measures in accordance with Item 402(v) of Regulation S-K.
| Year (a) · Summary Compensation Table Total for Principal Executive Officer (PEO) (b)1 · Compensation Actually Paid to PEO2(c) · Average Summary Compensation Table Total for Non-PEO Named Executive Officers (NEOs)1 (d) · Average Compensation Actually Paid to Non-PEO NEOs2 (e) · Value of Initial fixed $100 Investment Based On: · Net income (millions) (h) · Economic Return4 (i) | ||||||||
|---|---|---|---|---|---|---|---|---|
| TSR (f) · Peer Group TSR3(g) | ||||||||
| 2024 | $8,386,388 | $18,253,444 | $2,914,183 | $5,283,092 | 192 | 187 | $112 | 2.4% |
| 2023 | $9,126,346 | $10,334,185 | $2,893,215 | $3,201,416 | 131 | 138 | $139 | 3.0% |
| 2022 | $7,440,475 | $8,036,717 | $2,573,470 | $2,768,126 | 123 | 113 | $138 | 3.5% |
| 2021 | $7,623,221 | $12,903,150 | $2,295,676 | $3,638,865 | 128 | 136 | $139 | 7.0% |
| 1 | Mr Kelsey is the PEO for the covered years. Our Non-PEO NEOs for the covered years are as follows: |
| 2021 | 2022 | 2023 | 2024 |
| Patrick Jermain | Patrick Jermain | Patrick Jermain | Patrick Jermain |
| Steven Frisch | Steven Frisch | Steven Frisch | Steven Frisch |
| Angelo Ninivaggi | Angelo Ninivaggi | Angelo Ninivaggi | Angelo Ninivaggi |
| Ronnie Darroch | Oliver Mihm | Oliver Mihm | Oliver Mihm |
| 2 | CAP was determined by making the following adjustments relating to equity awards to total compensation as reported in the Summary Compensation Table for each year as computed in accordance with Item 402(v) of Regulation S-K: |
| PEO · NEOs | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2024 · 2023 · 2022 · 2021 · 2024 · 2023 · 2022 · 2021 | ||||||||
| Summary Compensation Table Total | $8,386,388 | $9,126,346 | $7,440,475 | $7,623,221 | $2,914,183 | $2,893,215 | $2,573,470 | $2,295,676 |
| Value of Stock Awards Disclosed in the Summary Compensation Table | -$6,127,875 | -$5,562,053 | -$4,077,029 | -$5,078,974 | -$1,869,229 | -$1,479,393 | -$1,251,505 | -$1,234,451 |
| Year End Fair Value of Stock Awards Granted in the Year and Unvested at Year-End | $10,694,417 | $6,341,463 | $5,694,429 | $7,262,713 | $2,728,882 | $1,679,270 | $1,707,928 | $1,765,111 |
| Year-Over Year Change in Fair Value of Stock Awards Granted in a Prior Year and Outstanding and Unvested at Year-End | $4,754,977 | -$50,132 | -$372,461 | $1,997,562 | $1,360,282 | -$8,589 | -$91,165 | $510,435 |
| Change in Fair Value of Stock Awards Granted in a Prior Year that Vested in the Year | $545,537 | $478,561 | -$648,697 | $1,098,628 | $148,974 | $116,913 | -$170,602 | $302,094 |
| Compensation Actually Paid | $18,253,444 | $10,334,185 | $8,036,717 | $12,903,150 | $5,283,092 | $3,201,416 | $2,768,126 | $3,638,865 |
The valuation methodologies used to calculate fair values for each measurement date for PEOs and NEOs during the applicable years do not materially differ from those used at the time of grant of each respective award.
| 3 | Represents the cumulative TSR for the Nasdaq-Electronic Components & Equipment Index. |
| 4 | Represents annual economic return as calculated for PSU performance, which is defined as the difference between ROIC, defined as tax-effected annual operating income divided by average invested capital and WACC. |
ANALYSIS OF THE INFORMATION PRESENTED IN THE PAY-VERSUS-PERFORMANCE TABLE
In accordance with Item 402(v) of Regulation S-K, the following graphs illustrate the relationship between the amounts disclosed in the Pay Versus Performance Table, above, as CAP to TSR, Peer Group Total Shareholder Return, GAAP Net Income and Economic Return.
TABULAR LIST OF PERFORMANCE MEASURES
The following table lists the financial performance measures that the Company considers to be the most important financial performance measures used by the Company to link compensation actually paid to its NEOs for the most recently completed fiscal year to performance of the Company.
Economic Return
Relative TSR
Return on Invested Capital
Revenue
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.