Erin McSweeney - Aug 8, 2024 Form 4 Insider Report for FLEX LTD. (FLEX)

Role
Director
Signature
/s/ Erin L. McSweeney, by Kristine Murphy as attorney-in-fact
Stock symbol
FLEX
Transactions as of
Aug 8, 2024
Transactions value $
$0
Form type
4
Date filed
8/9/2024, 08:58 PM
Previous filing
Jul 19, 2024
Next filing
Sep 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FLEX Ordinary Shares Award $0 +6.89K +23.42% $0.00 36.3K Aug 8, 2024 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 8, 2024, the Reporting Person was awarded a total of 6,889 restricted share units ("RSUs") pursuant to the terms of the annual equity award to Non-Employee Directors under the Issuer's Amended and Restated 2017 Equity Incentive Plan as more fully described in the section titled "Fiscal Year 2024 Non-Employee Directors' Compensation" beginning on page 29 of the Issuer's Proxy Statement filed with the SEC on June 25, 2024. Each RSU represents a contingent right to receive one unrestricted, fully transferable share for each vested RSU which has not previously forfeited. The award shall vest in full on the date immediately prior to the date of Issuer's 2025 annual general meeting.
F2 In connection with the disposition of all remaining shares of Class B Common Stock of Nextracker Inc. ("Nextracker") owned indirectly by the Issuer, effective January 2, 2024 (the "Spin-Off"), and in accordance with the terms of the Second Amended and Restated Employee Matters Agreement by and among the Issuer and the other parties thereto, the number of the Issuer's Ordinary Shares ("Shares") underlying the Reporting Person's RSUs were adjusted to preserve their economic value post-Spin-Off. As a result, the balance reported in this Column 5 includes an additional 2,183 RSUs. Such adjustment is exempt from Section 16 of the Securities Exchange Act of 1934, as amended ("Exchange Act") pursuant to Rule 16a-9 under the Exchange Act. The award will continue to vest on its original schedule and otherwise has substantially the same terms and conditions as the original award.
F3 Includes 6,889 unvested RSUs, which vest in full on the date immediately prior to the date of Issuer's 2025 annual general meeting. Each unvested RSU represents a contingent right to receive one unrestricted, fully transferrable share for each vested RSU which has not been previously forfeited.