SEC Form 4 · accession 0001209191-16-123349
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 23, 2016
Accepted (ET)
May 25, 2016 · 7:18 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 |
|---|---|---|---|---|---|---|---|---|
| Oridnary SharesF1 | May 23, 2016 | A | 144,750 | $0.00 | A | 385,408 | D | |
| Ordinary Shares | May 24, 2016 | S | 7,072 | $12.46 | D | 378,336 | D | |
| Ordinary SharesF3,F4,F5 | May 25, 2016 | S | 67,860 | $12.4671 | D | 310,476 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On 5/21/2013, 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 next business day following the third anniversary 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 $12.20 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) 18,750 unvested Restricted Stock Units, which will vest on May 21, 2017; (2) 37,543 unvested Restricted Stock Units, which will vest in three equal annual installments beginning on June 26, 2016; and (3) 53,719 unvested Restricted Stock Units, which will vest in four equal annual installments beginning on June 10, 2016.
- 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.