SEC Form 4 · accession 0001181431-15-007272
FLEX LTD. · FLEX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Francois Barbier
Officer — President, Global Operations
Period of report
May 18, 2015
Accepted (ET)
May 20, 2015 · 9:45 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 | 207,000 | $0.00 | A | 621,821 | D | |
| Ordinary SharesF3,F4,F5 | May 19, 2015 | S | 22,500 | $12.5574 | D | 599,321 | 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.
- F3Price reflects weighted average sales price; actual sales prices ranged from $12.525 to $12.575. 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.
- F4Includes the following: (1) 52,000 unvested Restricted Share Units, which will vest on June 3, 2015; (2) 37,500 unvested Restricted Share Units, which will vest on May 17, 2016; (3) 131,250 unvested Restricted Share Units, which will vest in three equal annual installments beginning on May 21, 2015; and (4) 110,126 unvested Restricted Stock Units, which will vest in four equal annual installments beginning on June 26, 2015.
- F5Each 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.
Remarks
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.