11-K 1 a2023form11-k.htm 11-K Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 11–K

[X]        ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2023

OR

[ ]        TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from…………………………to………………………..

Commission file number………..001-14423…………



A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

PLEXUS CORP. 401(k) RETIREMENT PLAN



B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

PLEXUS CORP.
ONE PLEXUS WAY
NEENAH, WI 54957












Plexus Corp.
401(k) Retirement Plan
Financial Statements and Supplemental Schedule
December 31, 2023 and 2022



Plexus Corp.
401(k) Retirement Plan
Index to Financial Statements


Other supplemental schedules required by the Employee Retirement Income Security Act have been omitted because they are not applicable to the Plexus Corp. 401(k) Retirement Plan



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Report of Independent Registered Public Accounting Firm

To the Plan Administrator and Plan Participants
Plexus Corp. 401(k) Retirement Plan
Neenah, Wisconsin

Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of Plexus Corp. 401(k) Retirement Plan (the Plan) as of December 31, 2023, and the related statement of changes in net assets available for benefits for the year then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2023, and the changes in net assets available for benefits for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Supplemental Information
The supplemental information in the accompanying Schedule H, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2023, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Wipfli LLP
Milwaukee, Wisconsin

June 21, 2024
We have served as the Plan’s auditor since 2024.

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GRANT THORNTON LLP
2501 E. Enterprise Ave., Suite 300
Appleton, WI 54913

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Retirement Committee and Plan Participants
Plexus Corp. 401(k) Retirement Plan

Opinion on the financial statements
We have audited the accompanying statement of net assets available for benefits of Plexus Corp. 401(k) Retirement Plan (the “Plan”) as of December 31, 2022, the related statement of changes in net assets available for benefits for the year then ended (not presented herein), and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2022 and the changes in net assets available for benefits for the year then ended in conformity with accounting principles generally accepted in the United States of America.

Basis for opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.
/s/ GRANT THORNTON LLP
We served as the Plan's auditor from 2014 to 2024.

Appleton, Wisconsin
June 21, 2023

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Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and each of its member firms are separate legal entities and are not a worldwide partnership.
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Plexus Corp. 401(k) Retirement Plan
Statements of Net Assets Available for Benefits
December 31, 2023 and 2022

20232022
Assets
Investments, at fair value$536,213,593 $456,809,793 
Notes receivable from participants6,354,383 5,774,269 
Net assets available for benefits$542,567,976 $462,584,062 



The accompanying notes are an integral part of these financial statements.

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Plexus Corp. 401(k) Retirement Plan
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2023

Year Ended
December 31, 2023
Additions to net assets:
Net investment income:
    Net appreciation in fair value of investments$78,344,638 
    Dividends4,240,598 
       Total investment income82,585,236 
Interest income on notes receivable from participants385,505 
Contributions:
    Employer10,192,661 
    Participant24,449,444 
    Participant rollovers4,834,457 
      Total contributions39,476,562 
        Total additions to net assets122,447,303 
Deductions from net assets:
  Benefits paid to participants42,016,100 
  Administrative expenses447,289 
        Total deductions from net assets42,463,389 
Net increase during the year79,983,914 
Net assets available for benefits
    Beginning of year462,584,062
    End of year$542,567,976 



The accompanying notes are an integral part of this financial statements.

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Plexus Corp. 401(k) Retirement Plan
Notes to Financial Statements
December 31, 2023 and 2022
1. Description of Plan
The following description of the Plexus Corp. 401(k) Retirement Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.
General
The Plan is a defined contribution plan covering substantially all United States (“U.S.”) employees of Plexus Corp. (“Plexus”, the “Company” or the “Employer”) and affiliated employers, as defined therein. Employees are eligible to participate immediately following their date of hire. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA").
Contributions
Employee contributions are based on voluntary elections via phone or internet by the participants directing the Company to defer a stated amount from the participant’s compensation. Participants may elect to defer up to 75% of their eligible compensation contributed as pre-tax 401(k), Roth, or after-tax contributions to the Plan. New hires and rehires are subject to the automatic enrollment provisions under the Plan. Unless the new hire/rehire waives enrollment, employees are enrolled with a 4% deferral election, and the deferral election will increase 1% each year up to a maximum of 15% of their annual compensation. Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.
The safe harbor matching contribution will be determined on an annual basis; however, on a per pay period basis, the Company makes a matching contribution on behalf of each eligible participant equal to 100% of the first 4% of the participant’s compensation contributed to the Plan. Participants are eligible for the matching contribution immediately following their date of hire. Contributions are limited by Section 415(c) of the Internal Revenue Code (the “IRC”).
The Plan permits rollover contributions from other qualified plans; however, rollover contributions are not eligible for the Company matching contribution.
Investment Alternatives
Plan participants may direct their entire account balances in partial percentage increments to any of the various investment options offered by the Plan, which includes the common stock of the Company ("Plexus Corp. Common Stock"). Company contributions are also invested based on participant allocation elections. Participants may change their investment options daily.
Participant Accounts and Allocations
Participant recordkeeping is performed by T. Rowe Price Retirement Plan Services, Inc. ("T. Rowe Price", or the "trustee"). For all investment programs that are mutual funds, T. Rowe Price maintains participant balances on a share method. Participant investments in the T. Rowe Price common trust funds are accounted for on a unit value method.

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Plexus Corp. 401(k) Retirement Plan
Notes to Financial Statements
December 31, 2023 and 2022
Units and unit values for these funds as of December 31, 2023 and 2022 were as follows:    
UnitsUnit Value
December 31,December 31,
2023202220232022
T. Rowe Price Retirement 2005 Trust15,455 19,194 $19.34 $17.28 
T. Rowe Price Retirement 2010 Trust106,701 103,841 $20.57 $18.28 
T. Rowe Price Retirement 2015 Trust100,088 97,936 $22.42 $19.83 
T. Rowe Price Retirement 2020 Trust419,636 504,008 $24.31 $21.39 
T. Rowe Price Retirement 2025 Trust919,550 966,165 $26.41 $23.02 
T. Rowe Price Retirement 2030 Trust1,740,697 1,883,582 $28.54 $24.49 
T. Rowe Price Retirement 2035 Trust1,418,076 1,442,952 $30.47 $25.72 
T. Rowe Price Retirement 2040 Trust1,633,144 1,600,695 $31.99 $26.68 
T. Rowe Price Retirement 2045 Trust753,221 688,362 $32.75 $27.10 
T. Rowe Price Retirement 2050 Trust725,586 644,777 $32.81 $27.09 
T. Rowe Price Retirement 2055 Trust653,508 586,167 $32.79 $27.05 
T. Rowe Price Retirement 2060 Trust607,868 518,186 $20.98 $17.31 
T. Rowe Price Retirement 2065 Trust196,092 60,138 $13.13 $10.83 
T. Rowe Price Retirement Balanced Trust193,353 215,124 $18.91 $16.96 
T. Rowe Price Stable Value Fund22,966,762 26,945,880 $1.00 $1.00 
T. Rowe Price Equity Income Trust549,555 583,540 $35.18 $32.03 
Blue Chip Growth Trust T5471,243 — $69.52 $— 
Each participant’s account is credited with the participant’s contributions, Company matching contributions, and Plan earnings (losses). Transaction fees charged for participant loans and distributions are allocated directly to that participant’s account. Allocations of Plan earnings (losses) are based on participant account balances in relation to total fund account balances, as defined by the Plan document.
Vesting and Distributions
Participants immediately vest in all contributions made to the Plan. Participant accounts are distributable, in full or as partial withdrawals, in the form of a lump sum payment or substantially equal installments of cash or in whole shares of Company securities as elected by the participant upon retirement, termination of employment, death, disability, financial hardship, attainment of age 59-1/2, or if a qualified reservist is called to active military duty. Participant account balances of less than $5,000 are automatically distributed in a single lump sum. In addition, participant accounts can be rolled over into an individual retirement account (“IRA”) or another qualified defined contribution plan. Participant distributions may not be deferred past April 1 following the year in which the participant reaches the age of 72 (73 if you reach age 72 after December 31, 2022). Forfeitures of unclaimed distributions are used to offset Company matching contributions.

Notes Receivable from Participants
Participants may borrow from their accounts a minimum of $1,000 up to a maximum amount equal to the lesser of $50,000 or 50% of their total account balance. Participants may have a maximum of two loans outstanding against their account at one time. All loans must be repaid within five years. Loans are collateralized by the balance in the participant’s account and bear interest at a rate determined by the Plan administrator at the time the loan is executed based on the prevailing rate charged by other lenders for a similar loan.
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Plexus Corp. 401(k) Retirement Plan
Notes to Financial Statements
December 31, 2023 and 2022
As of December 31, 2023 and 2022, all outstanding loans bore interest at the prime rate plus 1%. Principal and interest are paid ratably through regular payroll deductions.
Plan Reimbursement Account
As part of the recordkeeping and administrative service fee arrangement with T. Rowe Price, T. Rowe Price reimburses investment fund related revenue received by T. Rowe Price relating to the Plan that is in excess of the agreed upon service fee structure.  The reimbursement amounts, if any, are paid to the Plan in a Plan Reimbursement Account.  Investment fund related revenue received by T. Rowe Price typically includes Rule 12b-1 fees and service fees paid by the fund or the fund’s affiliates.  The Plan Reimbursement Account may be used by the Plan to pay direct and necessary expenses of the Plan; these fees are reflected as appreciation in investments.
For the year ended December 31, 2023, there was no Plan reimbursement revenue.
2. Summary of Significant Accounting Policies
Basis of Accounting
The accompanying financial statements of the Plan have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP").
Use of Estimates
The preparation of the accompanying financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Investment Valuation and Income Recognition
The Plan’s investments are stated at fair value. Fair value is the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 3 for a discussion of fair value measurements.
The Plan presents in the Statement of Changes in Net Assets Available for Benefits the net appreciation/(depreciation) in the fair value of its investments, which consists of the realized gains or losses and the unrealized appreciation or depreciation on those investments. Purchases and sales of investments are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date.
Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on an accrual basis. Delinquent participant loans are reclassified as distributions based on the terms of the Plan document. No allowance for credit losses were recorded as of December 31, 2023 and 2022.

Risks and Uncertainties
The Plan provides for various investment options in a combination of different investment securities, including a Plexus Corp. Common Stock fund. The Plan’s investments are exposed to various risks, including, but not limited to, interest rate, market, and credit risks. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the values of investments, it is at least reasonably possible that changes in risks in the near term would materially affect
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Plexus Corp. 401(k) Retirement Plan
Notes to Financial Statements
December 31, 2023 and 2022
participants’ account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statement of Changes in Net Assets Available for Benefits.
Payment of Benefits
Benefits are recorded when paid except for any excess contributions payable to participants, which are recorded as they become payable.
Administrative Expenses
Certain expenses of maintaining the Plan are paid directly by the Company and are not reflected within the financial statements. Fees related to the administration of notes receivable from participants are charged directly to the participants' accounts and are included in administrative expenses. Investment related expenses are included in net appreciation/(depreciation) of the fair value of investments.
Subsequent Events
Subsequent events have been evaluated through the date the financial statements were issued. The Plan Document was amended effective January 1, 2024, which changed the vesting criteria for employer contributions to 0% vested if the employee has less than three years of service, and 100% vested for three or more years of service. This vesting change only applies to employees hired after January 1, 2024. This amendment updated the Plan to no longer be a safe harbor plan.
Plan management is not aware of any other subsequent events that would require recognition or disclosure in the financial statements.
3.    Fair Value Measurements
The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The three levels of the fair value hierarchy under FASB Accounting Standards Codification Topic 820 are described as follows:

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The asset's or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs.

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Plexus Corp. 401(k) Retirement Plan
Notes to Financial Statements
December 31, 2023 and 2022
The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2023 and 2022.

Mutual Funds and Money Market: Valued at the net asset value ("NAV") of shares held by the Plan at year end. The NAV is a quoted price in an active market.
Common Stock: Valued at the closing price reported on the active market on which the common stock is traded.
Common/Collective Trusts: Valued at the NAV of units of a collective trust. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the fund less its liabilities.
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
The following table sets forth, by level within the fair value hierarchy, the Plan’s assets that are measured at fair value as of December 31, 2023 and 2022, with the exception of the common/collective trusts measured at fair value using the NAV practical expedient. The fair value for the common/collective trusts are provided below to permit reconciliation of the fair value hierarchy to the amounts presented in the Statements of Net Assets Available for Benefits. During the years ended December 31, 2023 and 2022, there were no transfers among levels.
Level 1Level 2Level 3Total
2023:
Mutual funds$168,170,257 $— $— $168,170,257 
Common stock19,442,162 — — 19,442,162 
Money market296,240 — — 296,240 
Total assets in the fair value hierarchy$187,908,659 $— $— $187,908,659 
Common/collective trusts*348,304,934 
    Total investments measured at fair value$536,213,593 
2022:
Mutual funds$163,653,230 $— $— $163,653,230 
Common stock18,849,701 — — 18,849,701 
Money market281,122 — — 281,122 
Total assets in the fair value hierarchy$182,784,053 $— $— $182,784,053 
Common/collective trusts*274,025,740 
    Total investments measured at fair value$456,809,793 
*The T. Rowe Price Retirement Trusts (the "Retirement Trusts") are structured as a trust of trusts that invests in other trusts offered by the trust company (the "underlying trusts"); the underlying trusts invest directly in securities. The T. Rowe Price Stable Value Fund (the "Fund") is 100% invested in the T. Rowe Price Stable Value Fund N, which holds investments in synthetic investment contracts ("SICs") which are designed to provide stability and a competitive yield. The T. Rowe Price Equity Income Trust (the "Trust") is 100% invested in the T. Rowe Price Equity Trust Fund D, which holds investments in common stocks. At December 31, 2023 and 2022, the Retirement Trusts, the Fund, and the Trust did not have any unfunded commitments, any other redemption restrictions or a redemption notice period.
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Plexus Corp. 401(k) Retirement Plan
Notes to Financial Statements
December 31, 2023 and 2022
4.    Tax Status
The Plan adopted T. Rowe Price's savings plan document, which received a favorable opinion letter from the Internal Revenue Service, dated August 19, 2020, stating that it is qualified under the applicable requirements of the IRC and is, therefore, not subject to tax under present income tax laws.  Although the Plan has been amended since receiving the opinion letter, the Plan administrator and the Plan's tax counsel believe that the Plan is designed, and is currently being operated, in compliance with the applicable requirements of the IRC and, therefore, believe that the Plan is qualified and tax-exempt.
GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that would likely not be sustained upon examination by a taxing authority.  The Plan administrator has analyzed the tax positions taken by the Plan and has concluded that, as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. 

5.    Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.

6.    Related Party and Party-In-Interest Transactions
Certain Plan investments represent Employer securities. Transactions involving these investments are considered party-in-interest transactions. These transactions are not, however, considered prohibited transactions under 29 CFR 408(b) of the ERISA regulations.
A portion of the Plan's assets are invested in common stock of the Company. Although these transactions qualify as party-in-interest transactions, they are exempt from the prohibited transaction rule under 407(b) of the ERISA regulations.
Notes receivable from participants also qualify as party-in-interest transactions but are exempt from the prohibited transaction rules of ERISA.
Certain Plan investments are in shares of common trust funds and mutual funds managed by T. Rowe Price. T. Rowe Price is the trustee defined by the Plan, and therefore, these purchases and sales qualify as party-in-interest transactions.
Fees paid by the Plan for investment management and record keeping are included as a reduction of the return earned by each fund.

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Plexus Corp. 401(k) Retirement Plan
EIN: 39-1344447, PN: 001
Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2023
Identity of Issuer, Borrower, Lessor or Similar PartyDescription of InvestmentCurrent Value **
Fidelity 500 Index FundMutual Fund$79,175,824 
*T. Rowe Price Retirement 2040 TrustCommon Trust Fund52,244,282 
*T. Rowe Price Retirement 2030 TrustCommon Trust Fund49,679,493 
*T. Rowe Price Retirement 2035 TrustCommon Trust Fund43,208,777 
*Blue Chip Growth Trust T5Common Trust Fund32,760,822 
*T. Rowe Price Retirement 2045 TrustCommon Trust Fund24,667,994 
*T. Rowe Price Retirement 2025 TrustCommon Trust Fund24,285,312 
*T. Rowe Price Retirement 2050 TrustCommon Trust Fund23,806,470 
Nationwide Geneva Small Cap Growth FundsMutual Fund23,611,947 
*T. Rowe Price Stable Value FundCommon Trust Fund22,966,762 
*T. Rowe Price Retirement 2055 TrustCommon Trust Fund21,428,540 
American EuroPacific Growth FundMutual Fund21,074,767 
*Plexus Corp. Common StockCommon Stock19,442,162 
*T. Rowe Price Equity Income TrustCommon Trust Fund19,333,349 
Fidelity US Bond Index FundMutual Fund13,617,853 
*T. Rowe Price Retirement 2060 TrustCommon Trust Fund12,753,076 
*T. Rowe Price Retirement 2020 TrustCommon Trust Fund10,201,349 
American Beacon Small Cap ValueMutual Fund9,007,065 
Goldman Sachs Emerging Market Equity FundMutual Fund5,634,029 
PIMCO Commodities Plus Institutional FundMutual Fund4,939,423 
Fidelity Inflation Protected Bond IndexMutual Fund3,807,951 
DFA International Small Company Portfolio InstMutual Fund3,662,455 
*T. Rowe Price Retirement Balanced TrustCommon Trust Fund3,656,310 
M.F.S. Emerging Market DebtMutual Fund3,638,943 
*T. Rowe Price Retirement 2065 TrustCommon Trust Fund2,574,690 
*T. Rowe Price Retirement 2015 TrustCommon Trust Fund2,243,977 
*T. Rowe Price Retirement 2010 TrustCommon Trust Fund2,194,835 
*T. Rowe Price Retirement 2005 TrustCommon Trust Fund298,896 
Vanguard Federal Money Market FundMoney Market296,240 
Total Investments536,213,593 
*Notes receivable from participants bearing interest at rates from 4.25% to 9.50% with maturities ranging from 2023-2028; $0 costParticipant Loans6,354,383 
Total$542,567,976 

*Party-in-interest.
**Related cost information is not required for participant-directed investments.
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SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

    PLEXUS CORP. 401(k) RETIREMENT PLAN

Date: June 21, 2024            
/s/ Angelo M. Ninivaggi
Angelo M. Ninivaggi
Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
Plexus Corp.

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