FLEX LTD. Reports Board Changes and Officer Appointments
Ticker: FLEX · Form: 8-K · Filed: Nov 22, 2024 · CIK: 866374
Sentiment: neutral
Topics: corporate-governance, officer-appointment, director-election
TL;DR
FLEX LTD. shook up its board and exec team on 11/18. New directors elected, officers appointed.
AI Summary
On November 18, 2024, FLEX LTD. reported changes in its board of directors and certain officers, including the election of new directors and appointments of new officers. The filing also disclosed compensatory arrangements for certain officers and included financial statements and exhibits. This report was filed on November 22, 2024.
Why It Matters
Changes in a company's board and executive team can signal shifts in strategy, governance, or operational focus, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and disclosures, with no immediate financial distress or significant negative events indicated.
Key Players & Entities
- FLEX LTD. (company) — Registrant
- November 18, 2024 (date) — Earliest event reported
- November 22, 2024 (date) — Filing date
FAQ
What specific items are covered under the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers' section?
The filing indicates changes related to the board of directors and certain officers, including elections and appointments, as well as details on compensatory arrangements for these individuals.
What is the significance of the 'Regulation FD Disclosure' item in this filing?
Regulation FD Disclosure ensures that material non-public information is broadly disseminated to the public, preventing selective disclosure to analysts or institutional investors.
What types of documents are included under 'Financial Statements and Exhibits'?
This section typically includes financial statements, but the specific exhibits are not detailed in the provided text; they would be listed in the full filing.
When was FLEX LTD. previously known as FLEXTRONICS INTERNATIONAL LTD.?
FLEX LTD. was formerly known as FLEXTRONICS INTERNATIONAL LTD. on June 8, 2006, and prior to that, on March 18, 1994.
What is the principal executive office address for FLEX LTD.?
The principal executive offices of FLEX LTD. are located at 2 Changi South Lane, Singapore 486123.
Filing Stats: 1,530 words · 6 min read · ~5 pages · Grade level 11.8 · Accepted 2024-11-22 07:50:10
Key Financial Figures
- $832,000 — Mr. Krumm's annual base salary will be $832,000. Mr. Krumm will be eligible to particip
- $2,900,000 — he aggregate as of the date of grant of $2,900,000. The RSUs will vest in three substantia
- $416,000 — ited with a one-time funding payment of $416,000 (50% of base salary) under the Deferred
- $5,800,000 — RSUs having a grant date fair value of $5,800,000 which will vest in three substantially
- $3,500,000 — nd (2) a one-time sign-on cash bonus of $3,500,000, which he is required to repay if, with
Filing Documents
- flex-20241118.htm (8-K) — 36KB
- flex-8xkexh991pr11222024ne.htm (EX-99.1) — 9KB
- image.jpg (GRAPHIC) — 4KB
- 0000866374-24-000056.txt ( ) — 178KB
- flex-20241118.xsd (EX-101.SCH) — 2KB
- flex-20241118_lab.xml (EX-101.LAB) — 21KB
- flex-20241118_pre.xml (EX-101.PRE) — 12KB
- flex-20241118_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On November 22, 2024, the Company issued a press release announcing the appointment of Mr. Krumm as Chief Financial Officer. A copy of the press release is furnished with this report as Exhibit 99.1. The information in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that Section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. 99.1 Press release, dated November 22 , 2024, issued by Flex Ltd. 104 Cover Page Interactive Data File (formatted as Inline XBRL) 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FLEX LTD. Date: November 22, 2024 By: /s/ Jaime Martinez Name: Jaime Martinez Title: Interim Chief Financial Officer 4