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    FLEX   SG9999000020

FLEX LTD.

(FLEX)
  Report
Delayed Nasdaq  -  04:00 2022-12-05 pm EST
21.26 USD   -2.30%
12/01Flex Ltd. : Other Events, Financial Statements and Exhibits (form 8-K)
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11/29Transcript : Flex Ltd. Presents at Credit Suisse 26th Annual Technology Conference, Nov-29-2022 08:55 AM
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11/17Flex Ltd. : Other Events (form 8-K)
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FLEX LTD. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

09/27/2022 | 04:13pm EST

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(d) On September 23, 2022, the Board of Directors (the "Board") of Flex Ltd. (the "Company") appointed Maryrose T. Sylvester as a member of the Board and as a member of the Compensation and People Committee of the Board. Ms. Sylvester joined the Board as an independent director. There is no arrangement or understanding between Ms. Sylvester and any other person pursuant to which Ms. Sylvester was appointed as a director. Furthermore, Ms. Sylvester has no related-party transactions reportable under Item 5.02 of Form 8-K or Item 404(a) of Regulation S-K and there are no financial, organizational, or familial affiliations between Ms. Sylvester and the Company.

Pursuant to the Company's non-management directors' compensation programs, Ms. Sylvester will be entitled to receive: (i) annual cash compensation of $105,000, payable quarterly in arrears, for services rendered as a director and member of the Compensation and People Committee; (ii) a pro-rated share of the annual restricted stock unit award received by our non-management directors following the last annual general meeting; and (iii) an annual restricted stock unit award following each annual general meeting of shareholders having an aggregate fair market value of $185,000. The foregoing description of the Company's non-management directors' compensation program is qualified by reference to the description included in the definitive proxy statement for the Company's 2022 Annual General Meeting, which was filed with the Securities and Exchange Commission on June 30, 2022.

The Company's Constitution provides that, subject to the Singapore Companies Act, every director shall be entitled to be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred by such person in the execution and discharge of such person's duties or in relation thereto. Our directors are covered by indemnification agreements with the Company and a wholly-owned subsidiary which provide for indemnification to the maximum extent permitted by applicable law. The Company has also obtained a policy of directors' and officers' liability insurance that will insure directors against the costs of defense, settlements and judgments in connection with proceedings in which our directors are involved by reason of having served as directors or agents of the Company.

On September 27, 2022, the Company issued a press release announcing the appointment of Ms. Sylvester, a copy of which is attached as Exhibit 99.1 hereto.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.
  99.1           Press release, dated September 27, 2022, issued by Flex Ltd.



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