Business Context and Reporting Period
Plexus Corp. (PLXS) filed this Form 8-K on April 28, 2026, to report the announcement of fiscal second-quarter results ended April 4, 2026, and significant executive leadership changes. The company is incorporated in Wisconsin and trades on the Nasdaq Global Select Market.
Key Financial Metrics
This filing references the announcement of fiscal Q2 2026 results but does not contain specific financial data within the text provided. Detailed metrics regarding revenue, profit, cash flow, margins, debt, and liquidity are contained in the press release furnished as Exhibit 99.1, which is not included in the source text. Therefore, the filing text does not provide a clear value for these financial indicators.
Material Changes and Executive Transition
The primary material event reported is the departure of the Chief Financial Officer and the appointment of a successor:
- Departure: Patrick J. Jermain, Executive Vice President and CFO, announced his retirement effective July 31, 2026. He will serve in an advisory capacity from May 11 to July 31, 2026, to ensure a seamless transition.
- Succession: David Abuhl will assume the role of Senior Vice President, CFO, and principal financial and accounting officer on May 11, 2026. Mr. Abuhl previously served as Sr. Vice President of Finance since September 2025.
- Compensation: Mr. Abuhl's base salary is set at $550,000 with a targeted annual award of 80% of base salary under the Variable Incentive Compensation Plan (VICP).
- Retirement Terms: Mr. Jermain will receive a pro-rata portion of his fiscal 2026 VICP, transfer of his company vehicle, and 18 months of subsidized health benefits. His unvested RSUs and PSUs will continue to vest subject to restrictive covenants.
Guidance, Outlook, and Risks
The filing does not contain specific forward-looking guidance, management commentary on market conditions, or a discussion of risks and contingencies beyond the standard disclosure regarding the executive transition. The text notes that Mr. Jermain's continued vesting of equity awards is contingent upon his adherence to non-competition, non-interference, and non-disparagement covenants.
Investor Verification Checklist
- Review Exhibit 99.1 (Financial Press Release) for specific Q2 2026 revenue, earnings, and margin figures.
- Verify the exact terms of the Retirement Agreement (Exhibit 10.1) regarding severance and equity vesting conditions.
- Confirm the timeline for the CFO transition, specifically the handover date of May 11, 2026.
- Assess the impact of the CFO change on the company's financial reporting and strategic direction in upcoming quarters.