secwatch.observer — SEC 8-K summary
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Issuer:     FLEX LTD. (FLEX)
CIK:        0000866374
Form:       8-K
Filed at:   2024-09-27T23:59:59+00:00
Accession:  0000866374-24-000042
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Flex awards $4.6M supplemental equity to Hartung and Tan; retention-focused
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- One-time supplemental awards: $4.6M grant date fair value each for CEO Michael P. Hartung and President Hooi Tan.
- Awards split 50/50 between performance-based PSUs (adjusted EPS growth CAGR FY25-27) and time-based RSUs.
- PSUs pay out 0%-200% of target; earned PSUs vest in two equal installments on Mar 31, 2028 and 2029.
- RSUs cliff vest on third anniversary; no acceleration for retirement or non-cause termination without change of control.
- Awards designed to support long-term retention and align with shareholder value creation over ~5-year period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866374/000086637424000042/0000866374-24-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866374/000086637424000042/flex-20240925.htm
  HTML page:      https://secwatch.observer/filing/0000866374-24-000042

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer