Todd P. Kelsey, president and chief executive officer of Plexus Corp., completed a set of insider transactions in mid-February 2026 that together shifted his direct stake in the company and produced proceeds in excess of $1 million.
According to a Form 4 filing with the Securities and Exchange Commission, Kelsey sold a total of 5,231 shares of Plexus common stock on February 18, 2026. Those sales were executed across multiple trades at prices ranging from $194.4727 to $196.3615 per share, producing aggregate proceeds of $1,024,111. The filing shows the disposals were made under a previously established Rule 10b5-1 trading plan adopted on November 20, 2025.
The filings also document related activity on February 17, 2026, when Kelsey exercised performance stock units that resulted in the issuance of 18,726 shares of common stock. On the same day he surrendered 8,802 of those shares in an event described as a sale to cover tax withholding obligations, at a price of $195.95 per share, yielding proceeds of $1,724,751.
After accounting for the February exercises and sales, Kelsey is recorded as directly owning 83,291 shares of Plexus common stock.
The insider activity comes while Plexus shares are trading near $196.57. The stock has displayed strong momentum recently, appreciating 53% over the past six months and rising 34% year-to-date.
An independent valuation analysis cited in company-related reporting indicates the shares currently appear overvalued relative to their Fair Value, even as the company’s PEG ratio is 0.61, a metric that can indicate an attractive relationship between valuation and expected growth.
Separately, Plexus reported first-quarter results for fiscal 2026 that market participants may view as supportive of the company’s recent share performance. Reported earnings per share were $1.78, slightly above the $1.75 expectation, while revenue was $1.07 billion, in line with consensus projections. Those results underscore the company’s near-term operating performance as reflected in the reported figures.
The filings capture the mechanics of a routine executive liquidity event under a Rule 10b5-1 plan and the related tax-cover sale connected to a performance-unit exercise. They do not offer additional commentary on the executive’s motivations beyond the structured plan and the tax withholding transaction.
Context and implications
The documented selling occurred within pre-set trading parameters, and the exercise of performance units followed the award mechanics that generate taxable income for executives. Together the moves altered Kelsey’s direct holding but left him with a substantial residual position of 83,291 shares. The company’s reported quarterly results show earnings and revenue that met or marginally exceeded expectations, while market pricing and valuation metrics present mixed signals about current investor sentiment versus model-based fair value estimates.