Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | NXT | Class B Common Stock | Other | $0 | -60.1M | -100% | $0.00* | 0 | Jan 2, 2024 | Class A Common Stock | 60.1M | By Yuma, Inc. | F1, F2, F3 | |
transaction | NXT | Class B Common Stock | Other | $0 | -14.3M | -100% | $0.00* | 0 | Jan 2, 2024 | Class A Common Stock | 14.3M | By Yuma Subsidiary, Inc. | F1, F2, F4 |
Flex Ltd. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.
Id | Content |
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F1 | Each share of Class B Common Stock was paired with one common unit of Nextracker LLC ("LLC Common Unit" and, together with the paired Class B Common Stock, the "Paired Interest"). Pursuant to the Exchange Agreement by and among the Issuer, Nextracker LLC and the holders of LLC Common Units, each Paired Interest was exchangeable into one share of Class A Common Stock (or, at the Issuer's election, cash based on the exchange rate in the Exchange Agreement and the value of the Class A Common Stock at the time of the exchange), subject to the terms of the Exchange Agreement. Upon an exchange of Paired Interests for Class A Common Stock, the corresponding Class B Common Stock would be cancelled. The Paired Interests had no expiration date. |
F2 | Pursuant to the Agreement and Plan of Merger ("Merger Agreement"), entered into by the Reporting Person and the Issuer on February 7, 2023, on January 2, 2024, the Reporting Person distributed to its shareholders, on a pro rata basis and for no consideration, shares of Yuma, Inc. common stock (the "Spin-Off") and, immediately following the Spin-Off, Yuma, Inc. was merged with and into a subsidiary of the Issuer, with Yuma, Inc. surviving as a wholly-owned subsidiary of the Issuer (the "Merger"). As consideration in the Merger, the Yuma, Inc. shareholders (i.e., shareholders of the Reporting Person) received, on a pro rata basis, shares of the Issuer's Class A Common Stock (equal to the number of the Issuer's LLC Common Units held directly by Yuma, Inc. and Yuma Subsidiary, Inc. prior to the Merger). At the same time, all shares of the Issuer's Class B Common Stock held directly by Yuma, Inc. and Yuma Subsidiary, Inc. were retired. |
F3 | Prior to the Spin-Off, the sole shareholder of Yuma, Inc. was the Reporting Person. |
F4 | The sole shareholder of Yuma Subsidiary, Inc. is Yuma, Inc. |