secwatch.observer — SEC 8-K summary
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Issuer:     FLEX LTD. (FLEX)
CIK:        0000866374
Form:       8-K
Filed at:   2025-03-07T23:59:59+00:00
Accession:  0000866374-25-000011
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flex amends equity plan for double-trigger vesting; CEO added to enhanced severance plan
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- Board approved amendment to 2017 Equity Incentive Plan clarifying double-trigger vesting of awards assumed in a change of control, effective March 5, 2025.
- CEO Revathi Advaithi added to amended Executive Severance Plan; prior separate offer letter severance replaced.
- Under new plan, CEO receives 2.99x base salary plus target bonus, accelerated equity, and 3 years benefits upon qualifying termination within 24 months of a change of control.
- Other participants receive 2x multiplier and 2 years benefits; no material change to non-change-of-control severance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866374/000086637425000011/0000866374-25-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866374/000086637425000011/flex-20250305.htm
  HTML page:      https://secwatch.observer/filing/0000866374-25-000011

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