SEC Form 4 · accession 0001181431-15-007996
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
Jun 4, 2015
Accepted (ET)
Jun 8, 2015 · 7:12 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 | Jun 4, 2015 | A | 16,125 | $0.00 | A | 274,474 | D | |
| Ordinary SharesF3,F4,F5 | Jun 4, 2015 | S | 5,320 | $11.9724 | D | 269,154 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On 06/03/2011, 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, fifty percent (50%) of the RSUs granted vest on the next business day following the third and fourth anniversaries of the date of grant, subject to applicable taxes upon delivery.
- F2Disposition 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 $11.971 to $11.980. 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) 18,750 unvested Restricted Stock Units, which will vest on May 17, 2016; (2) 37,500 unvested Restricted Stock Units, which will vest in two equal annual installments beginning on May 21, 2016; and (3) 50,057 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.