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Plexus Executive Compensation (FY25)

PLXS · Neenah, WI · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): February 19, 2026
278 figures on this page: 268 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Total compensation for Todd Kelsey, President & Chief Executive Officer, came to $10,839,258 in fiscal 2025, and Kelsey's total moved 29.2% higher from the $8,386,388 reported for fiscal 2024. For fiscal 2025, the company reported a chief executive pay ratio of 639:1, against median employee compensation of $16,963. For fiscal 2025, shareholders backed the say-on-pay proposal with 90.7% of votes cast for or against in favor at the meeting held February 18, 2026. The disclosed peer group names Amkor Technology, Inc., Benchmark Electronics, Inc., Bruker Corporation, Celestica Inc. and CommScope Holding Company, Inc., among others.
Chief executive, fiscal 2025
◇
Todd Kelsey
Latest say-on-pay support
=
February 18, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Todd Kelsey: $8,386,388 → $10,839,258 (29.2% higher)
Say-on-pay support: 92.4% → 90.7% (1.7 points lower)
CEO pay ratio: 494:1 → 639:1 (29.4% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Plexus' chief executive and what were they paid?
Total compensation for Todd Kelsey, President & Chief Executive Officer, came to $10,839,258 in fiscal 2025. Kelsey's total moved 29.2% higher from the $8,386,388 reported for fiscal 2024.
What was Plexus' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 90.7% of votes cast for or against in favor at the meeting held February 18, 2026.
Which companies are in Plexus' peer group?
The disclosed peer group names Amkor Technology, Inc., Benchmark Electronics, Inc., Bruker Corporation, Celestica Inc. and CommScope Holding Company, Inc., among others. The PEER GROUP FOR SETTING 2026 PAY names Charles River Laboratories International, Inc., MKS Instruments, Inc., Sensata Technologies Holding plc and UL Solutions Inc.
What is Plexus' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 639:1, against median employee compensation of $16,963.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Todd Kelsey
Chief Executive Officer
◇—◇—◇—◇◇
Steven Frisch
President & Chief Strategy Officer
◇—◇—◇—◇◇
Patrick Jermain
Executive VP & Chief Financial Officer
◇—◇—◇—◇◇
Oliver Mihm
Executive VP & Chief Operating Officer
◇—◇—◇—◇◇
Angelo Ninivaggi
Executive VP, Chief Administrative Officer, General Counsel & Secretary
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Todd Kelsey
President & Chief Executive Officer
◇—◇—◇—◇◇
Patrick Jermain
Executive VP & Chief Financial Officer
◇—◇—◇—◇◇
Oliver Mihm
Executive VP & Chief Operating Officer
◇—◇—◇—◇◇
Angelo Ninivaggi
Executive VP, Chief Administrative Officer, General Counsel & Secretary
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Todd Kelsey
President & Chief Executive Officer
◇—◇—◇—◇◇
Steven Frisch
Former Chief Strategy Officer
Departed during or after this year
◇—◇—◇—◇— not reconciled
Patrick Jermain
Executive VP & Chief Financial Officer
◇—◇—◇—◇◇
Oliver Mihm
Executive VP & Chief Operating Officer
◇—◇—◇—◇◇
Angelo Ninivaggi
Executive VP, Chief Administrative Officer, General Counsel & Secretary
◇—◇—◇—◇◇
Victor Tan
Regional President, APAC
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Todd Kelsey
President & Chief Executive Officer
◇—◇—◇—◇◇
Patrick Jermain
Executive VP & Chief Financial Officer
◇—◇—◇—◇◇
Oliver Mihm
Executive VP & Chief Operating Officer
◇—◇—◇—◇◇
Angelo Ninivaggi
Executive VP, Chief Administrative Officer, General Counsel & Secretary
◇—◇—◇—◇◇
Victor Tan
Regional President, APAC
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Angelo M. NinivaggiRSU◇——◇——◇
Angelo M. NinivaggiPSU◇◇◇—◇—◇
Oliver K. MihmPSU◇◇◇—◇—◇
Oliver K. MihmRSU◇——◇——◇
Patrick J. JermainPSU◇◇◇—◇—◇
Patrick J. JermainRSU◇——◇——◇
Todd P. KelseyPSU◇◇◇—◇—◇
Todd P. KelseyRSU◇——◇——◇
Victor TanPSU◇◇◇—◇—◇
Victor TanRSU◇——◇——◇
Fiscal 2022, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Victor TanRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Angelo NinivaggiRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Patrick JermainRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Oliver MihmRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Todd KelseyRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Dean A. Foate
Board chair
◇◇———◇◇
Michael V. Schrock
Lead independent director
◇◇————◇
Joann M. Eisenhart
◇◇————◇
Rainer Jueckstock
◇◇————◇
Paul A. Rooke
◇◇————◇
Joel Quadracci
◇◇————◇
Karen M. Rapp
◇◇————◇
Jennifer B. Wuamett
◇◇————◇
Randy J. Martinez
◇◇————◇
Todd P. Kelsey served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x annual base cash retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Amkor Technology, Inc. AMKR
  • Benchmark Electronics, Inc. BHE
  • Bruker Corporation BRKR
  • Celestica Inc. CLS
  • CommScope Holding Company, Inc. symbol not shown
  • Curtiss-Wright Corporation CW
  • Fabrinet FN
  • Flex Ltd. FLEX
  • Jabil Inc. JBL
  • Keysight Technologies, Inc. KEYS
  • Moog Inc. MOG-A
  • Parsons Corporation PSN
  • Regal Rexnord Corporation RRX
  • Revvity, Inc. RVTY
  • Sanmina Corporation SANM
  • Teledyne Technologies Inc. TDY
  • Trimble Inc. TRMB
  • Vishay Intertechnology, Inc. VSH
  • Waters Corporation WAT
PEER GROUP FOR SETTING 2026 PAY
  • Charles River Laboratories International, Inc. CRL
  • MKS Instruments, Inc. MKSI
  • Sensata Technologies Holding plc ST
  • UL Solutions Inc. ULS

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025February 18, 2026=◇◇◇
2024February 11, 2025=◇◇◇
2023February 14, 2024=◇◇◇
2022February 15, 2023=◇◇◇
2021February 16, 2022=◇◇◇
2020February 17, 2021=◇◇◇
2019February 12, 2020=◇◇◇
2018February 13, 2019=◇◇◇
2017February 14, 2018=◇◇◇
2016February 15, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Plexus disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Plexus sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
278 figures on this page: 268 cited to the filing that reported them, 10 calculated from figures it prints.
268 cited to the filing
10 calculated from the filing

Documents cited

  1. 0000785786-26-000021
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001140361-25-046290
    DIRECTOR COMPENSATION FOR FISCAL 2025 · Grants of Plan-Based Awards for Fiscal 2025 · Outstanding Equity Awards at Fiscal 2025 Year-End · PAY RATIO DISCLOSURE · and 1 more section
  3. 0000785786-25-000016
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000785786-24-000021
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0001140361-23-057825
    Summary Compensation Table · Summary Compensation Table for Fiscal 2023
  6. 0000785786-23-000016
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001140361-22-045851
    Summary Compensation Table for Fiscal 2022
  8. 0000785786-22-000043
    Voting Information
  9. 0000785786-21-000020
    Voting Information
  10. 0000785786-20-000011
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0000785786-19-000014
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0000785786-18-000014
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0000785786-17-000010
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This page is free to cite. Attribution we ask for:
Velarion, “Plexus executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PLXS (accessed 2026).
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Tech — Hardware rankings

Chief executive pay — Tech — HardwareCEO pay ratio — Tech — HardwareSay-on-pay support — Tech — Hardware

Peers Plexus discloses

The companies named in PLXS's own disclosed peer group.

Amkor Technology, Inc.Benchmark Electronics, Inc.Bruker CorporationCelestica Inc.FabrinetFlex Ltd.Jabil Inc.Parsons CorporationRevvity, Inc.Sanmina CorporationWaters CorporationCharles River Laboratories International, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy