• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    SEC Form 11-K filed by Methode Electronics Inc.

    6/27/25 5:05:16 PM ET
    $MEI
    Electrical Products
    Technology
    Get the next $MEI alert in real time by email
    11-K 1 mei-20250627.htm 11-K 11-K

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

    FORM 11-K

     

     

    (Mark One)

    ☒

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

     

    For the year ended December 31, 2024

     

    OR

    ☐

    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    For the transition period from to

    Commission File Number: 1-33731

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

    Methode Electronics, Inc. 401(k) Savings Plan

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

    Methode Electronics, Inc.

    8750 West Bryn Mawr Avenue, Suite 1000

    Chicago, IL 60631-3518

     


     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Financial Statements and

    supplemental schedule

    Methode Electronics, Inc. 401(k) Savings Plan

    Years Ended December 31, 2024 and 2023

     

     

     

     


     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Financial Statements and

    Supplemental Schedule

    Years Ended December 31, 2024 and 2023

     

     

    Contents

     

    Report of Independent Registered Public Accounting Firm

     

    1

     

     

     

    Financial Statements

     

     

     

     

     

    Statements of Net Assets Available for Benefits

     

    3

    Statements of Changes in Net Assets Available for Benefits

     

    4

    Notes to Financial Statements

     

    5

     

     

     

    Supplemental Schedule

     

     

     

     

     

    Schedule H, Part IV, Line 4i – Schedule of Assets (Held at End of Year)

     

    11

     

     

     

    Exhibit

     

     

     

     

     

    23.1 Consent of Independent Registered Public Accounting Firm

     

     

     

     

     

     


     

    Report of Independent Registered Public Accounting Firm

     

    The Administration Committee and Participants

    Methode Electronics, Inc.

    401(k) Savings Plan

     

    Opinion on the Financial Statements

    We have audited the accompanying statements of net assets available for benefits of Methode Electronics, Inc. 401(k) Savings Plan (the “Plan”) as of December 31, 2024 and 2023, and the related statements of changes in net assets available for benefits for the years then ended, and the related notes (collectively, 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, 2024 and 2023 and the changes in net assets available for the years 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 audits. 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 audits 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. Our audits included performing procedures to assess the risk 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 audits also include evaluating the accounting principles used and significant estimates made by the Plan’s management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

    1


     

    Supplemental Information

    The supplemental information in the accompanying Schedule H, Part IV, Line 4i – Schedule of Assets (Held at End of Year) as of December 31, 2024 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. 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 underling 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/ Sassetti LLC

    We have served as the Plan’s auditor since 2005.

     

    June 27, 2025

    Oak Brook, Illinois

     

    2


     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Statements of Net Assets Available for Benefits

     

     

     

    December 31,

     

     

     

    2024

     

     

    2023

     

    Assets

     

     

     

     

     

     

    Investments, at fair value:

     

     

     

     

     

     

    Mutual funds

     

    $

    76,481,637

     

     

    $

    75,350,233

     

    Methode common stock fund

     

     

    2,675,553

     

     

     

    2,424,416

     

    Total investments, at fair value

     

     

    79,157,190

     

     

     

    77,774,649

     

    Investments, at contract value

     

     

    13,419,433

     

     

     

    14,671,116

     

    Total investments

     

     

    92,576,623

     

     

     

    92,445,765

     

     

     

     

     

     

     

     

    Receivables:

     

     

     

     

     

     

    Notes receivable from participants

     

     

    652,016

     

     

     

    656,878

     

     

     

     

     

     

     

     

    Total assets

     

     

    93,228,639

     

     

     

    93,102,643

     

     

     

     

     

     

     

     

    Liabilities

     

     

     

     

     

     

     

     

     

     

     

     

     

    Total liabilities

     

     

    —

     

     

     

    —

     

     

     

     

     

     

     

     

    Net assets available for benefits

     

    $

    93,228,639

     

     

    $

    93,102,643

     

     

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

     

    3


     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Statements of Changes in Net Assets Available for Benefits

     

     

     

    Years Ended December 31,

     

     

     

    2024

     

     

    2023

     

    Additions:

     

     

     

     

     

     

    Additions to net assets attributed to:

     

     

     

     

     

     

    Investment Income:

     

     

     

     

    Interest and dividends

     

    $

    4,622,127

     

     

    $

    3,365,554

     

    Net appreciation in fair value of investments

     

     

    5,504,295

     

     

     

    7,241,716

     

    Total investment gain

     

     

    10,126,422

     

     

     

    10,607,270

     

     

     

     

     

     

     

     

    Contributions:

     

     

     

     

     

     

    Participants

     

     

    3,275,119

     

     

     

    3,336,959

     

    Employer

     

     

    1,296,086

     

     

     

    1,192,386

     

    Rollovers

     

     

    520,993

     

     

     

    35,106

     

    Total contributions

     

     

    5,092,198

     

     

     

    4,564,451

     

    Total additions

     

     

    15,218,620

     

     

     

    15,171,721

     

     

     

     

     

     

     

     

    Deductions:

     

     

     

     

     

     

    Deductions from net assets attributed to:

     

     

     

     

     

     

    Benefits paid to participants

     

     

    15,020,028

     

     

     

    7,862,039

     

    Administrative expenses

     

     

    72,596

     

     

     

    78,068

     

    Total deductions

     

     

    15,092,624

     

     

     

    7,940,107

     

    Net increase

     

     

    125,996

     

     

     

    7,231,614

     

    Net assets available for benefits:

     

     

     

     

    Beginning of year

     

     

    93,102,643

     

     

     

    85,871,029

     

    End of year

     

    $

    93,228,639

     

     

    $

    93,102,643

     

     

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

     

    4


     

     

     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Notes to Financial Statements

     

    1. Description of the Plan

    The following description of the Methode Electronics, Inc. 401(k) Savings Plan (Plan) provides only general information. Participants should refer to the Plan agreement or Summary Plan Description (SPD) for a more complete description of the Plan’s provisions. Copies of the SPD are available from Methode Electronics, Inc.

    General

    The Plan is a defined-contribution plan established to provide additional retirement and other benefits for eligible employees, to enable eligible employees, through systematic savings, to accumulate funds on a tax-advantageous basis, and to provide a vehicle through which the plan sponsor, Methode Electronics, Inc. and its subsidiaries (the Company), can attract and retain qualified employees.

    Participation

    Participation in the Methode Electronics, Inc. 401(k) Savings Plan begins on the employee’s hire date and is accomplished through an automatic enrollment process. The participant is automatically enrolled to contribute 3% of their eligible wages into the American Balanced Fund, the Plan’s Qualified Default Investment Alternative, on a pre-tax basis unless they elect to opt-out on contributing to the Plan all together or elect to make their own investment election.

    Contributions

    Participants may elect to contribute a minimum of 1% of their annual compensation (as defined in the Plan) pre-tax, after-tax Roth 401(k) or any combination, up to the maximum annual dollar limit allowable by the Internal Revenue Service (IRS).

    The Company contributes to the Plan, on behalf of each participant, a “safe-harbor” non-elective contribution of 3% of each participant’s eligible compensation (as defined by the Plan), subject to the IRS maximum amount, for the portion of the Plan year in which the employee was a participant in the Plan.

    Participants may direct contributions into various investment options offered by the Plan.

    Participant Withdrawals

    Withdrawals are permitted in the event of termination of employment, disability, death, retirement, attainment of age 59 1/2, or financial hardship. A financial hardship withdrawal is currently permitted by the IRS for certain authorized purposes with the approval by the 401(k) Plan Administrator. Such withdrawals must be approved by the 401(k) Plan Administrator. Withdrawals prior to the attainment of age 59 1/2 may be subject to an additional 10% tax penalty.

    5


     

     

     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Notes to Financial Statements

     

    Vesting

    Participants are immediately vested in Company contributions, their contributions, and actual earnings (losses) thereon.

    Notes Receivable from Participants

    Participants may borrow a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance from their fund accounts. Loan terms range from 1 to 5 years or up to 15 years for the purchase of a primary residence. The loans are secured by the balance in the participant’s account and bear interest at the prime rate plus 1%. Principal and interest are paid ratably through payroll deductions.

    Participant loans are measured at their unpaid principal balance. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan.

    Participant Accounts

    Each participant’s account is credited with the participant’s contributions and allocations of Company contributions and Plan earnings (losses). Allocations are based on participant earnings or account balances as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s account.

    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 the Employee Retirement Income Security Act of 1974.

    2. Significant Accounting Policies

    Basis of Accounting

    The financial statements have been prepared on the accrual basis of accounting.

    Valuation of Investments

    The shares of mutual funds and the Methode Electronics Common Stock Fund are reported at fair value. See note 4 for discussion of fair value measurements.

    Purchases and sales are recorded on a trade-date basis. Interest is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

    Under generally accepted accounting principles, the following fixed income investments qualify as fully benefit responsive investments and are reported at contract value:

    6


     

     

     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Notes to Financial Statements

     

    The General Account contract value is determined by Empower Annuity Insurance Company of America (EAICA). The contract value represents contributions made, plus interest at the contract rate, less funds used to pay participants’ benefits. The Plan does not allow for new investment in this contract. There are significant penalties if the entire contract were prematurely terminated. The interest guarantee is based on EAICA's ability to meet its financial obligations from its general assets.

    The General Account contract had an average yield (annualized) and a crediting interest rate of 3.00% for each of the years ended December 31, 2024 and 2023. The crediting interest rate is set at the beginning of the calendar year and is periodically reviewed for adjustment. The balance in this annuity contract was $350,105 and $375,207 as of December 31, 2024 and 2023, respectively.

    The Lincoln Stable Value Account is a fixed group annuity issued by The Lincoln National Life Insurance Company. Contract value is the relevant measure attributed to that portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the contract.

    The Lincoln contract had an average yield of 2.25% and 2.05% (annualized) for the years ended December 31, 2024 and 2023, respectively with a guaranteed minimum interest rate of 1.00%. At December 31, 2024 and 2023 the crediting interest rate was 2.30% and 2.10%, respectively. The balance in the Lincoln stable value account was $13,069,328 and $14,295,909 as of December 31, 2024 and 2023, respectively.

    Use of Estimates

    The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

    Risks and Uncertainties

    The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.

    Administrative Expenses

    Participant fees are charged to all participants’ account balances for the operational costs of the Plan. Participants paid 7 basis points annually for each of the years ended December 31, 2024 and 2023.

    7


     

     

     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Notes to Financial Statements

     

    Payment of Benefits

    Benefits are recorded when paid.

    3. Investments

    The Plan’s investment income by type (including interest, dividends, investments purchased, sold, as well as held during the year) appreciated (depreciated) in fair value as follows:

     

     

     

    Years Ended December 31,

     

     

     

    2024

     

     

    2023

     

    Fixed income

     

    $

    310,430

     

     

    $

    319,290

     

    Mutual funds

     

     

    10,850,828

     

     

     

    11,802,352

     

    Common stock fund

     

     

    (1,034,836

    )

     

     

    (1,514,372

    )

     

    $

    10,126,422

     

     

    $

    10,607,270

     

     

    4. Fair Value Measurements

    Accounting Standards Codification Topic 820 (ASC 820) defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities they are required to be recorded at their fair value, the Plan considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance.

    ASC 820 also establishes a fair value hierarchy which requires the Plan to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

    A financial instrument’s categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The standard establishes three levels of inputs that may be used to measure fair value:

    -
    Level 1: quoted prices in active markets for identical assets or liabilities;
    -
    Level 2: inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities ; or
    -
    Level 3: unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

    8


     

     

     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Notes to Financial Statements

     

    The Plan’s valuation methodologies used for measuring the fair values are as follows:

    Mutual funds: valued at quoted market price, which represent the estimated fair value of the shares held in such funds.

    Methode Electronics, Inc. Common Stock Fund: the fund invests primarily in Methode Electronics, Inc. common stock, which is traded on the New York Stock Exchange (NYSE) under the ticker symbol (MEI) and is valued at its quoted market price at the daily close of the NYSE. A small portion of the fund is invested in short-term money market instruments. The money market portion of the fund provides liquidity, which enables the Plan participants to transfer money daily among all investment choices.

    There have been no changes in these methodologies used at December 31, 2024 or 2023.

    The following summarizes investments by classification and method of valuation for the year ended December 31, 2024:

     

     

    2024

     

     

     

    Fair Value Measurements Using Input Type

     

     

     

    Level 1

     

     

    Level 2

     

     

    Level 3

     

     

    Total

     

    Mutual Funds

     

    $

    76,481,637

     

     

    $

    —

     

     

    $

    —

     

     

    $

    76,481,637

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Methode Common Stock Fund

     

     

    2,675,553

     

     

     

    —

     

     

     

    —

     

     

     

    2,675,553

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Total Investments, at fair value

     

    $

    79,157,190

     

     

    $

    —

     

     

    $

    —

     

     

    $

    79,157,190

     

     

    The following summarizes investments by classification and method of valuation for the year ended December 31, 2023:

     

     

    2023

     

     

     

    Fair Value Measurements Using Input Type

     

     

     

    Level 1

     

     

    Level 2

     

     

    Level 3

     

     

    Total

     

    Mutual Funds

     

    $

    75,350,233

     

     

    $

    —

     

     

    $

    —

     

     

    $

    75,350,233

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Methode Common Stock Fund

     

     

    2,424,416

     

     

     

    —

     

     

     

    —

     

     

     

    2,424,416

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Total Investments, at fair value

     

    $

    77,774,649

     

     

    $

    —

     

     

    $

    —

     

     

    $

    77,774,649

     

     

    5. Income Tax Status

    The Plan has received a determination letter from the IRS dated June 30, 2020, stating that the Plan is qualified under Section 401(a) of the Internal Revenue Code (the Code) and, therefore, the related trust is exempt from taxation. Subsequent to this determination by the IRS, the Plan was amended. Although the Plan has been amended since receiving the determination letter, the Plan

    9


     

     

     

    Methode Electronics, Inc.

    401(k) Savings Plan

    Notes to Financial Statements

     

    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 Internal Revenue Code and, therefore, believe that the Plan is qualified, and the related trust is tax-exempt.

    Generally accepted accounting principles require plan management to evaluate tax positions taken by the plan and recognize a tax liability if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS or Department of Labor. The plan administrator has analyzed the tax positions taken by the plan, and has concluded that as of December 31, 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The plan administrator believes it is no longer subject to income tax examinations for years prior to 2021.

    6. Related Party Transactions

    Lincoln Financial Group, the Plan’s record keeper, is an affiliate of the Lincoln National Life Insurance Company, which the Plan has an insurance investment contract. The Plan also invests in Methode Electronics, Inc. Common Stock. These transactions qualify as related party and party-in-interest transactions.

    Lincoln Financial Group provides certain administrative services to the Plan pursuant to a Recordkeeping Services Agreement (RSA) between the Company and Lincoln.

    At December 31, 2024 and 2023 the Plan held 212,691 and 103,959 shares, respectively, of common stock of the Company, the sponsoring employer.

     

     

    10


     

    Supplemental Schedule

    Methode Electronics, Inc.

    401(k) Savings Plan

    Schedule H, Part IV, Line 4i - Schedule of Assets

    (Held at End of Year)

    EIN #36-2090085 Plan #002

    December 31, 2024

    (a.)

     

    (b.)

     

    (c.)

     

     

     

     

    (d.)

     

    (e.)

     

     

     

     

     

     

     

    Shares

     

     

     

     

     

     

     

     

     

     

    Description of

     

    or

     

     

     

     

    Current

     

     

     

    Identity of Issue

     

    Investment

     

    Units

     

     

    Cost

     

    Value

     

     

     

    Mutual funds

     

     

     

     

     

     

     

     

     

     

     

     

    The American Funds Group

     

    American Balanced Fund

     

     

    261,444

     

     

    **

     

    $

    8,980,588

     

     

     

     

     

    American Mutual Fund

     

     

    147,920

     

     

    **

     

     

    8,163,723

     

     

     

     

     

    Europacific Growth Fund

     

     

    73,425

     

     

    **

     

     

    3,944,414

     

     

     

     

     

    Growth Fund of America

     

     

    197,123

     

     

    **

     

     

    14,695,511

     

     

     

     

     

    New Economy Fund

     

     

    57,479

     

     

    **

     

     

    3,547,030

     

     

     

    Delaware Investments

     

    Delaware Diversified Income

     

     

    857,531

     

     

    **

     

     

    6,482,933

     

     

     

    Ivy

     

    Ivy Mid Cap Growth I

     

     

    117,709

     

     

    **

     

     

    3,506,555

     

     

     

    Vanguard

     

    Total Stock Market Index

     

     

    69,223

     

     

    **

     

     

    9,763,967

     

     

     

     

     

    FTSE All-World ex US Index Inv

     

     

    85,350

     

     

    **

     

     

    3,044,423

     

     

     

     

     

    Vanguard Mid Cap Index Fund

     

     

    3,229

     

     

    **

     

     

    1,055,389

     

     

     

     

     

    Vanguard Small Cap Index Fund

     

     

    4,426

     

     

    **

     

     

    509,730

     

     

     

    Dimensional Fund Advisors

     

    Small Cap Value Inst

     

     

    49,264

     

     

    **

     

     

    2,410,475

     

     

     

    T. Rowe Price

     

    Dividend Growth Adv

     

     

    77,142

     

     

    **

     

     

    5,926,018

     

     

     

    TIAA - CREF

     

    Institutional Bond

     

     

    492,899

     

     

    **

     

     

    4,450,881

     

     

     

    Common stock fund

     

     

     

     

     

     

     

     

     

     

    *

     

    Methode Electronics, Inc.

     

    Methode Electronics, Inc.

     

     

     

     

     

     

     

     

     

     

     

     

    Common Stock

     

     

    212,691

     

     

    **

     

     

    2,675,553

     

     

     

    Total investments at fair value

     

     

     

     

     

     

     

     

     

    79,157,190

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Investments at contract value

     

     

     

     

     

     

     

     

     

     

     

     

    Empower Annuity Insurance Company of America

     

    Group Annuity Contract

     

     

    350,105

     

     

    **

     

     

    350,105

     

    *

     

    Lincoln Financial Group

     

    Lincoln Stable Value Fund

     

     

    10,783,022

     

     

    **

     

     

    13,069,328

     

     

     

    Total investments at contract value

     

     

     

     

     

     

     

     

     

    13,419,433

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Total investments

     

     

     

     

     

     

     

     

     

    92,576,623

     

    *

     

    Participant loans

     

    Interest rate - 4.25% - 9.50%

     

     

     

     

    -0-

     

     

    652,016

     

     

     

     

     

     

     

     

     

     

     

     

    $

    93,228,639

     

    *Party in interest.

     

     

     

     

     

     

     

     

     

    **Cost information is not required for participant directed investments and participant loans and, therefore, is not included.

     

     

    11


     

    SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the plan administrator has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

     

     

    METHODE ELECTRONICS, INC.

    Date: June 27, 2025

    By:

    /s/ AMIT N. PATEL

    Amit N. Patel

    Chief Accounting Officer

     

     

    11


    Get the next $MEI alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $MEI

    DatePrice TargetRatingAnalyst
    2/25/2025Neutral → Buy
    Sidoti
    4/9/2024$12.00Hold
    Jefferies
    3/7/2024$17.00Buy → Neutral
    Sidoti
    11/22/2022$52.00Buy
    Jefferies
    1/20/2022Mkt Perform
    Barrington Research
    More analyst ratings

    $MEI
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Cadwallader Brian J was granted 559 units of Phantom Stock (SEC Form 4)

      4 - METHODE ELECTRONICS INC (0000065270) (Issuer)

      5/6/25 6:00:13 PM ET
      $MEI
      Electrical Products
      Technology
    • Director Lindsey Mary A was granted 250 units of Phantom Stock (SEC Form 4)

      4 - METHODE ELECTRONICS INC (0000065270) (Issuer)

      5/6/25 6:00:07 PM ET
      $MEI
      Electrical Products
      Technology
    • Director Schwabero Mark D was granted 559 units of Phantom Stock (SEC Form 4)

      4 - METHODE ELECTRONICS INC (0000065270) (Issuer)

      5/6/25 6:00:04 PM ET
      $MEI
      Electrical Products
      Technology

    $MEI
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Methode Electronics to Release Fourth Quarter and Full Year Fiscal 2025 Results on Wednesday, July 9, 2025

      CHICAGO, July 03, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting system and power distribution applications, announced it will release its fourth quarter and full year fiscal 2025 results for the period ended May 3, 2025, on Wednesday, July 9, 2025, after market close. The company will conduct a conference call and webcast the following day, Thursday, July 10, 2025, at 10:00 a.m. CDT to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik. To participate in the conference call, please dial

      7/3/25 4:00:00 PM ET
      $MEI
      Electrical Products
      Technology
    • Methode Electronics' Board Approves Dividend

      CHICAGO, March 20, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on May 2, 2025, to common stockholders of record at the close of business on April 18, 2025. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products for OEMs

      3/20/25 4:05:00 PM ET
      $MEI
      Electrical Products
      Technology
    • Methode Electronics' Grakon Business Unit Recognized as a Top Supplier by PACCAR

      CHICAGO, March 20, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI) announced today that its Grakon business unit, a global leader in advanced lighting systems, has been recognized by PACCAR, maker of Kenworth and Peterbilt trucks, as a top-performing supplier. Each year, PACCAR honors its highest-performing suppliers through its Supplier Performance Management (SPM) Program, which measures achievements in product development, operations, aftermarket support, and alignment with PACCAR's key business objectives. The SPM program fosters collaboration and continuous improvement, driving innovation and performance enhancements across the supply chain. Over the years, Grakon has

      3/20/25 10:30:00 AM ET
      $MEI
      Electrical Products
      Technology

    $MEI
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SVP Global Automotive Business Ullrich Lars bought $101,390 worth of shares (15,150 units at $6.69) (SEC Form 4)

      4 - METHODE ELECTRONICS INC (0000065270) (Issuer)

      3/18/25 6:16:41 PM ET
      $MEI
      Electrical Products
      Technology
    • CEO and President Degaynor Jonathan B bought $211,357 worth of shares (32,733 units at $6.46) (SEC Form 4)

      4 - METHODE ELECTRONICS INC (0000065270) (Issuer)

      3/12/25 7:00:04 AM ET
      $MEI
      Electrical Products
      Technology
    • Director Lindsey Mary A bought $100,108 worth of shares (8,800 units at $11.38), increasing direct ownership by 51% to 25,970 units (SEC Form 4)

      4 - METHODE ELECTRONICS INC (0000065270) (Issuer)

      9/25/24 5:00:04 PM ET
      $MEI
      Electrical Products
      Technology

    $MEI
    SEC Filings

    See more
    • SEC Form 11-K filed by Methode Electronics Inc.

      11-K - METHODE ELECTRONICS INC (0000065270) (Filer)

      6/27/25 5:05:16 PM ET
      $MEI
      Electrical Products
      Technology
    • SEC Form SD filed by Methode Electronics Inc.

      SD - METHODE ELECTRONICS INC (0000065270) (Filer)

      5/30/25 4:18:53 PM ET
      $MEI
      Electrical Products
      Technology
    • SEC Form 10-Q filed by Methode Electronics Inc.

      10-Q - METHODE ELECTRONICS INC (0000065270) (Filer)

      3/5/25 4:30:30 PM ET
      $MEI
      Electrical Products
      Technology

    $MEI
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Methode Electronics upgraded by Sidoti

      Sidoti upgraded Methode Electronics from Neutral to Buy

      2/25/25 8:43:24 AM ET
      $MEI
      Electrical Products
      Technology
    • Jefferies initiated coverage on Methode Electronics with a new price target

      Jefferies initiated coverage of Methode Electronics with a rating of Hold and set a new price target of $12.00

      4/9/24 8:21:13 AM ET
      $MEI
      Electrical Products
      Technology
    • Methode Electronics downgraded by Sidoti with a new price target

      Sidoti downgraded Methode Electronics from Buy to Neutral and set a new price target of $17.00

      3/7/24 11:24:14 AM ET
      $MEI
      Electrical Products
      Technology

    $MEI
    Financials

    Live finance-specific insights

    See more
    • Methode Electronics to Release Fourth Quarter and Full Year Fiscal 2025 Results on Wednesday, July 9, 2025

      CHICAGO, July 03, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting system and power distribution applications, announced it will release its fourth quarter and full year fiscal 2025 results for the period ended May 3, 2025, on Wednesday, July 9, 2025, after market close. The company will conduct a conference call and webcast the following day, Thursday, July 10, 2025, at 10:00 a.m. CDT to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik. To participate in the conference call, please dial

      7/3/25 4:00:00 PM ET
      $MEI
      Electrical Products
      Technology
    • Methode Electronics' Board Approves Dividend

      CHICAGO, March 20, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on May 2, 2025, to common stockholders of record at the close of business on April 18, 2025. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products for OEMs

      3/20/25 4:05:00 PM ET
      $MEI
      Electrical Products
      Technology
    • Methode Electronics to Release Third Quarter Fiscal 2025 Results on Wednesday, March 5, 2025

      CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting system and power distribution applications, announced it will release its third quarter fiscal 2025 results for the period ended February 1, 2025, on Wednesday, March 5, 2025, after market close. The company will conduct a conference call and webcast the following day, Thursday, March 6, 2025, at 10:00 a.m. CST to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik. To participate in the conference call, please dial 888-506-

      2/20/25 4:05:00 PM ET
      $MEI
      Electrical Products
      Technology

    $MEI
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Methode Electronics Inc.

      SC 13G/A - METHODE ELECTRONICS INC (0000065270) (Subject)

      11/12/24 4:04:11 PM ET
      $MEI
      Electrical Products
      Technology
    • Amendment: SEC Form SC 13G/A filed by Methode Electronics Inc.

      SC 13G/A - METHODE ELECTRONICS INC (0000065270) (Subject)

      11/4/24 10:23:54 AM ET
      $MEI
      Electrical Products
      Technology
    • Amendment: SEC Form SC 13G/A filed by Methode Electronics Inc.

      SC 13G/A - METHODE ELECTRONICS INC (0000065270) (Subject)

      10/31/24 11:54:59 AM ET
      $MEI
      Electrical Products
      Technology

    $MEI
    Leadership Updates

    Live Leadership Updates

    See more
    • Methode Electronics Appoints Brad Corrodi as Chief Strategy Officer

      CHICAGO, March 05, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that Brad Corrodi has been appointed as Chief Strategy Officer (CSO) effective March 10, 2025. Mr. Corrodi joins Methode with more than 30 years of experience serving in strategic, investment, and operating roles. He will be based at the company's headquarters in Chicago, Illinois. "Brad's blend of strategy and operational experience will be a key differentiator, as we continue to reshape Methode's future," said Jon DeGaynor, President and Chief Executive Officer. "With

      3/5/25 7:00:00 AM ET
      $MEI
      Electrical Products
      Technology
    • Methode Electronics Appoints Karen Keegans as Chief Human Resources Officer

      CHICAGO, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that Karen Keegans has been appointed as Chief Human Resources Officer (CHRO) effective February 3, 2025. Ms. Keegans succeeds Andrea Barry, who has served as CHRO since 2017. Ms. Keegans joins Methode with more than 30 years of leadership experience, serving in the capacity of CHRO for several global industrial organizations, including Fortune 500 companies, such as Rockwell Automation, Pentair, and Praxair. She will be based at the company's headquarters in Chicago, Ill

      1/30/25 4:05:00 PM ET
      $MEI
      Electrical Products
      Technology
    • Methode Electronics Appoints Lars Ullrich as Senior Vice President, Global Automotive Business

      CHICAGO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Lars Ullrich has been appointed as Senior Vice President, Global Automotive Business, effective December 2, 2024. The newly created position will oversee all global strategic, launch, and commercial activities for the company's automotive business. Mr. Ullrich most recently held the position of Head of Region Americas and Chief Business Officer for Larsen and Toubro Semiconductor Technologies, a semiconductor start-up company. He has over 20 years of busine

      11/20/24 7:00:00 AM ET
      $MEI
      Electrical Products
      Technology