Pat Ward - Feb 16, 2024 Form 4 Insider Report for FLEX LTD. (FLEX)

Role
Director
Signature
/s/ Pat Ward, by Kristine Murphy as attorney-in-fact
Stock symbol
FLEX
Transactions as of
Feb 16, 2024
Transactions value $
$0
Form type
4
Date filed
2/16/2024, 09:00 PM
Previous filing
Aug 4, 2023
Next filing
Apr 30, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FLEX Ordinary Shares Gift $0 -9.87K -50.69% $0.00 9.6K Feb 16, 2024 Direct F1, F2, F3
transaction FLEX Ordinary Shares Gift $0 +9.87K +154.19% $0.00 16.3K Feb 16, 2024 By Trust F1
holding FLEX Ordinary Shares 505 Feb 16, 2024 ByTrust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the transfer by the Reporting Person of 9,871 directly owned ordinary shares to the Patrick J. Ward Revocable Trust u/a/d 8/16/2011, of which Reporting Person and his spouse are co-trustees.
F2 Includes 9,601 unvested restricted share units ("RSUs"), which vest in full on the date immediately prior to the date of Issuer's 2024 annual general meeting. Each unvested RSU represents a contingent right to receive one unrestricted, fully transferrable share for each vested RSU which has not been previously forfeited.
F3 In connection with the disposition of all remaining shares of Class B Common Stock of Nextracker Inc. ("Nextracker") owned indirectly by the Issuer, effective January 2, 2024 (the "Spin-Off"), and in accordance with the terms of the Second Amended and Restated Employee Matters Agreement by and among the Issuer and the other parties thereto, the number of the Issuer's Ordinary Shares ("Shares") underlying the Reporting Person's RSUs were adjusted to preserve their economic value post-Spin-Off. As a result, the balance reported in this Column 5 includes an additional 2,183 RSUs. Such adjustment is exempt from Section 16 of the Securities Exchange Act of 1934, as amended ("Exchange Act") pursuant to Rule 16a-9 under the Exchange Act. The award will continue to vest on its original schedule and otherwise has substantially the same terms and conditions as the original award.