SEC Form 4 · accession 0001209191-16-108945
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 14, 2016
Accepted (ET)
Mar 16, 2016 · 7:26 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 | Mar 14, 2016 | M | 1,800 | $11.23 | A | 2,935,891 | D | |
| Ordinary SharesF1,F2,F3,F4 | Mar 14, 2016 | S | 1,800 | $11.3983 | 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)F5 | $11.23 | Mar 14, 2016 | M | 1,800 | D | — | Apr 17, 2016 | Ordinary Shares | 1,800 | 466,667 | D |
Explanation of responses
- F1Price reflects weighted average sales price; actual sales prices ranged from $11.37 to $11.40. 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) 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.
- F3Each 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.
- F4The shares are held by the McNamara Family Trust.
- F5The 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.