Who Owns Plexus Company?

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Who Owns Plexus Corp.?

Understanding a company's ownership is key to grasping its strategic direction and market influence. Plexus Corp., a global leader in electronics manufacturing services, was founded in 1979. Its journey from a small circuit board designer to a comprehensive product realization solutions provider highlights significant shifts in its structure.

With a market capitalization around $3.32 billion as of July 24, 2025, Plexus operates globally with over 20,000 employees. Its ownership is largely dictated by its status as a publicly traded entity on NASDAQ, with institutional investors holding substantial stakes.

Who holds the majority of shares in Plexus Corp.?

Plexus Corp. was founded in 1979 by Peter Strandwitz, John Nussbaum, and a group of entrepreneurs. With an initial capital of $100,000, raised from 13 local investors, the company began by focusing on designing and building computer circuit boards on a contract basis. Robert Hanson was also a key member of the founding team.

Founding Year Established in 1979, marking the beginning of its journey in the electronics manufacturing sector. Initial Capital Secured $100,000 in initial funding from 13 local investors. Founding Team Key founders include Peter Strandwitz, John Nussbaum, and Robert Hanson. Early Business Focus Specialized in the design and contract manufacturing of computer circuit boards. 1980s Structure Operated through three subsidiaries: Technology Group Inc. for development and testing, and two contract production units. IPO in 1986 Completed its Initial Public Offering, transitioning from private ownership to public trading.

By the end of the 1980s, the company had organized its operations into three distinct subsidiaries. Technology Group Inc. was dedicated to electronic product development and testing, while two contract production units, Electronic Assembly Corp and Electronic Assembly Inc., handled manufacturing. In 1991, these two production units merged into a single entity, and Technology Group Inc. refined its focus to product design and development. The company's Initial Public Offering (IPO) in 1986 was a pivotal moment, enabling capital infusion for expansion and enhancing its market presence. This move broadened investor participation beyond the initial private stakeholders. Specific details regarding the equity distribution among the founders at the company's inception are not publicly available. This strategic shift laid the groundwork for its future Growth Strategy of Plexus.

Early Corporate Evolution

The company's structure evolved significantly in its early years to support its growth and specialization.

• Technology Group Inc. focused on product design and development.
• Two contract production units, Electronic Assembly Corp and Electronic Assembly Inc., were established.
• By 1991, the two production units merged into one entity.
• The IPO in 1986 marked a transition to public ownership.
• This public offering facilitated capital for expansion and increased visibility.

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Plexus Corp. transitioned to a publicly traded entity through its Initial Public Offering in 1986. This move marked a significant shift in its ownership structure, opening the door for broader investment. As of July 16, 2025, the company's stock was valued at $137.11 per share, with a market capitalization reaching approximately $3.32 billion as of July 24, 2025.

The ownership landscape of Plexus Corp. is predominantly shaped by institutional investors, who collectively held a substantial 96.39% of the company's stock as of June 2025. Within this group, mutual funds represent a significant portion, accounting for 73.66% of the holdings. This concentration indicates a strong presence of investment management firms in the Plexus company structure.

Key Institutional Holders

Institutional investors are the primary owners of Plexus Corp. stock. Their significant holdings underscore the company's status as a mature, publicly traded entity.

• BlackRock, Inc. is a major shareholder.
• Vanguard Group Inc. also holds a substantial number of shares.
• Other significant institutional investors include Disciplined Growth Investors Inc. and Dimensional Fund Advisors Lp.
• The company's ownership reflects a broad distribution among investment firms.
• Understanding the Mission, Vision & Core Values of Plexus can provide context to its strategic direction.

The company's fiscal year 2024 10-K filing, dated September 28, 2024, reported 27,092,389 shares of common stock outstanding as of November 11, 2024. Shares held by non-affiliates were valued at approximately $2.6 billion, based on a closing price of $94.82 on March 30, 2024. This distribution of shares among various investment entities highlights the typical ownership profile for a well-established public company, where a large percentage of stock is managed by investment professionals rather than individual retail investors.

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As of July 2025, Plexus Corp.'s board of directors is comprised of seasoned professionals, with an average tenure of 8.6 years. Dean Foate serves as Non-Executive Chairman, and Todd Kelsey holds the positions of President, Chief Executive Officer, and Director. The board also includes several independent directors, contributing diverse expertise to the company's governance.

The voting power for Plexus Corp. common stock operates on a one-share-one-vote principle. As of the record date of December 6, 2024, there were 27,087,943 shares of common stock outstanding, with each share granting its holder a single vote. Shareholders have the flexibility to cast their votes either during the virtual annual meeting or by submitting a proxy. The company's bylaws permit the board to appoint up to 12 directors. The 2025 Annual Meeting of Shareholders focused on electing 10 directors, conducting an advisory vote on executive compensation, and ratifying the appointment of PricewaterhouseCoopers LLP as the independent auditor. Executive compensation, as detailed in the proxy statement, includes a combination of salary and bonuses, with a substantial portion linked to the company's stock performance and options. For example, Todd Kelsey's total annual compensation amounts to $8.39 million, with 12.5% allocated to salary and the remaining 87.5% in bonuses, which incorporates company stock and options. Understanding the Target Market of Plexus can provide context for the strategic decisions made by this leadership team.

Key Aspects of Plexus Governance

Plexus Corp. maintains a clear governance structure with a board of directors focused on strategic oversight. The voting power is distributed based on share ownership, ensuring shareholder influence.

• Board composition emphasizes experienced independent directors.
• Voting power is based on a one-share-one-vote system.
• Shareholders can vote in person or by proxy.
• Executive compensation is performance-linked, including stock options.

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Over the past few years, the ownership of Plexus Corp. has remained heavily influenced by institutional investors, indicating a stable and professionally managed entity. While insider ownership is a smaller component, recent transactions show a degree of executive activity in managing their personal holdings.

Recent developments highlight the company's active approach to capital management and employee incentives. Plexus has been engaged in share repurchase programs, buying back a significant number of shares in fiscal year 2024 to manage its outstanding equity. Furthermore, the approval of the 2024 Incentive Plan, which allows for the issuance of additional shares and grants equity awards, aims to align leadership interests with shareholder value. This plan received strong shareholder support, with approximately 93% approving the 2016 Omnibus Plan, which it builds upon.

Share Repurchase Activity

Plexus repurchased 536,440 shares of common stock in fiscal year 2024. This activity is part of ongoing programs to manage the company's capital structure.

Equity Incentive Programs

The 2024 Incentive Plan allows for up to 800,000 additional shares to be issued. This plan is designed to provide equity awards, including stock options and restricted stock units, to key personnel.

Executive Share Transactions

Several executives and directors have engaged in share sales during 2025. For instance, the Executive Vice President & CFO sold 4,328 shares for $572,554 in May 2025, with the CEO also reporting sales in May and June 2025.

Financial Performance and Outlook

Fiscal year 2024 saw net sales of $3,960.8 million and diluted EPS of $4.01, with cash from operations increasing to $436.5 million. The company projects Q4 2025 revenue between $1.025 billion and $1.065 billion, with non-GAAP EPS expected at $1.82 to $1.97.

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