Flex Ltd.
Amendment to Equity Incentive Plan and Executive Severance Plan for CEO
Summary
On March 5, 2025, Flex Ltd. amended its 2017 Equity Incentive Plan to clarify vesting rules in the event of a change of control, and restated its Executive Severance Plan to align the CEO's severance benefits with the plan. These changes aim to ensure that equity awards are fully vested in certain involuntary termination scenarios following a change of control, and to provide the CEO with severance benefits during a 24-month Change of Control Protection Period, including a lump sum payment and accelerated vesting of equity awards.
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About Flex Ltd.
Flex Ltd. is a leading manufacturing and supply chain solutions provider that operates on a global scale. The company primarily focuses on developing and delivering innovative product solutions for a broad range of industries including consumer electronics, industrial automation, automotive, healthcare, and energy. Leveraging advanced technologies and supply chain expertise, Flex Ltd. offers comprehensive services ranging from design, engineering, and manufacturing to logistics and post-production support. As a key player in the manufacturing sector, the company enables its clients to streamline their operations, reduce costs, and accelerate time-to-market for new products. Flex Ltd.'s strategic global footprint, encompassing facilities and offices in over 30 countries, highlights its significant role in facilitating a seamless flow of goods across international markets. Founded in 1969 and headquartered in Singapore, Flex Ltd. continues to influence how businesses adapt to evolving technological and market demands with its commitment to efficiency, sustainability, and innovation.
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