SEC Form 4 · accession 0001181431-15-007271
FLEX LTD. · FLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jonathan S Hoak
Officer — EVP and General Counsel
Period of report
May 18, 2015
Accepted (ET)
May 20, 2015 · 9:44 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 SharesF1 | May 18, 2015 | A | 103,500 | $0.00 | A | 324,830 | D | |
| Ordinary SharesF3,F4 | May 19, 2015 | S | 7,622 | $12.57 | D | 317,208 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On 05/17/2012, the Reporting Person was awarded a number of performance-based restricted stock units (RSUs), within a preset range, with the actual number contingent upon the achievement of a certain performance criterion. If the performance criterion is achieved, the RSUs granted vest on the third anniversary of the date of grant, subject to applicable taxes upon delivery.
- F2Includes disposition of shares exempt under Rule 16b-3 as payment of tax liability to Company incident to vesting of restricted stock share award.
- F3Includes the following: (1) 10,000 unvested Restricted Share Units, which will vest on June 3, 2015; (2) 18,750 unvested Restricted Share Units, which will vest May 17, 2016; (3) 56,250 unvested Restricted Share Units, which will vest in three equal annual installments beginning on May 21, 2015; and (4) 50,057 unvested Restricted Stock Units, which will vest in four equal annual installments beginning on June 26, 2015.
- F4Each 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.