SEC Form 4 · accession 0001209191-16-107970
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
Mar 9, 2016
Accepted (ET)
Mar 11, 2016 · 6:42 pm EST
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 | Mar 9, 2016 | M | 29,886 | $11.23 | A | 2,963,977 | D | |
| Ordinary SharesF1 | Mar 9, 2016 | S | 29,886 | $11.2921 | D | 2,934,091 | D | |
| Ordinary Shares | Mar 10, 2016 | M | 18,082 | $11.23 | A | 2,952,173 | D | |
| Ordinary SharesF2 | Mar 10, 2016 | S | 18,082 | $11.2938 | D | 2,934,091 | D | |
| Ordinary Shares | Mar 11, 2016 | M | 183,565 | $11.23 | A | 3,117,656 | D | |
| Ordinary SharesF3,F4,F5,F6 | Mar 11, 2016 | S | 183,565 | $11.3644 | D | 2,934,091 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F7 | $11.23 | Mar 9, 2016 | M | 29,886 | D | — | Apr 17, 2016 | Ordinary Shares | 29,886 | 670,114 | D |
| Employee Stock Option (Right to Buy)F7 | $11.23 | Mar 10, 2016 | M | 18,082 | D | — | Apr 17, 2016 | Ordinary Shares | 18,082 | 652,032 | D |
| Employee Stock Option (Right to Buy)F7 | $11.23 | Mar 11, 2016 | M | 183,565 | D | — | Apr 17, 2016 | Ordinary Shares | 183,565 | 468,467 | D |
Explanation of responses
- F1Price reflects weighted average sales price; actual sales prices ranged from $11.29 to $11.305. 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.
- F2Price reflects weighted average sales price; actual sales prices ranged from $11.29 to $11.31. 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.
- F3Price reflects weighted average sales price; actual sales prices ranged from $11.29 to $11.44. 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) 112,500 unvested Restricted Share Units, which will vest on May 17, 2016; (2) 225,000 unvested Restricted Share Units, which will vest in two equal annual installments beginning on May 21, 2016; (3) 273,973 unvested Restricted Share Units, which will vest in three equal annual installments beginning on June 26, 2016; and (4) 359,504 unvested Restricted Share Units, which will vest in four equal annual installments beginning on June 10, 2016.
- F5Each unvested Restricted Share Unit represents a contingent right to receive one unrestricted, fully transferable share for each vested Restricted Share Unit which has not previously forfeited.
- F6The shares are held by the McNamara Family Trust.
- F7The award was fully vested on April 17, 2010.
Remarks
The option exercised as reported in this Form 4 is scheduled to expire on April 17, 2016, and was effected pursuant to a Rule 10b5-1 trading plan.