SEC Form 4 · accession 0001181431-15-005971
FLEX LTD. · FLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael M McNamara
Officer — Chief Executive Officer · Director
Period of report
Apr 15, 2015
Accepted (ET)
Apr 17, 2015 · 6:36 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000866374
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary Shares | Apr 15, 2015 | M | 369,294 | $10.59 | A | 2,307,705 | D | |
| Ordinary SharesF1,F2,F3,F4 | Apr 15, 2015 | S | 369,294 | $12.6997 | D | 1,938,411 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F5 | $10.59 | Apr 15, 2015 | M | 369,294 | D | — | Jun 2, 2015 | Ordinary Shares | 369,294 | 0 | D |
Explanation of responses
- F1Price reflects weighted average sales price; actual sales prices ranged from $12.615 to $12.78. The reporting person undertakes to provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares purchased or sold at each separate price.
- F2Includes the following: (1) 160,000 unvested Restricted Share Units, which will vest on June 3, 2015; (2) 225,000 unvested Restricted Share Units, which will vest in two equal annual installments beginning on May 17, 2015; (3) 337,500 unvested Restricted Share Units, which will vest in three equal annual installments beginning on May 21, 2015; and (4) 365,297 unvested Restricted Stock Units, which will vest in four equal annual installments beginning on June 26, 2015.
- F3Each unvested Restricted Stock Unit represents a contingent right to receive one unrestricted, fully transferable share for each vested Restricted Stock Unit which has not previously forfeited.
- F4The shares are held by the McNamara Family Trust.
- F5The award was fully vested on June 2, 2012.
Remarks
The options exercised as reported in this Form 4 were scheduled to expire on June 2, 2015, and were effected pursuant to a Rule 10b5-1 trading plan.