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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 7, 2020

 

 

 

FLEX LTD.

(Exact Name of Registrant as Specified in Its Charter)

 

Singapore   0-23354   Not Applicable
(State or other jurisdiction of
incorporation)		   (Commission File Number)   (IRS Employer Identification No.)

 

2 Changi South Lane, Singapore   486123
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (65) 6876-9899

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Ordinary Shares, No Par Value   FLEX   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

Entity Address City Or Town

 

 

  

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

 

(e) Amendment and restatement of the Flex Ltd. 2017 Equity Incentive Plan

 

On August 7, 2020, Flex Ltd. (the “Company” or “Flex”) held its 2020 Annual General Meeting of Shareholders (“Annual Meeting”). At the Annual Meeting, the Company’s shareholders approved the amendment and restatement of the Company’s 2017 Equity Incentive Plan (the “2017 Plan” and, as amended, the “Amended Equity Plan”). The Amended Equity Plan amends and restates the 2017 Plan to, among other things, increase the aggregate number of shares reserved for issuance by 21,100,000 ordinary shares, less one share for every one share that is subject to an award granted under the 2017 Plan after March 31, 2020 and prior to the effective date of the Amended Equity Plan. A more complete description of the terms of the Amended Equity Plan can be found in “Proposal No. 4: Ordinary Resolution to Approve the Amendment and Restatement of the Flex Ltd. 2017 Equity Incentive Plan” in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on June 26, 2020 (the “2020 Proxy Statement”), which description is incorporated herein by reference. The foregoing description and the description incorporated by reference from the 2020 Proxy Statement are qualified in their entirety by reference to the full text of the Amended Equity Plan, which is incorporated by reference hereto as Exhibit 10.01 hereto.

 

Item 5.07 Submission of Matters to a Vote of Security Holders

 

On August 7, 2020, Flex held its 2020 Annual Meeting. There were 497,769,563 Ordinary Shares entitled to be voted and 456,113,997 Ordinary Shares were voted in person or by proxy at the Annual Meeting.

 

At the Annual Meeting:

 

  (1) The shareholders re-elected the ten (10) nominees for director.

 

  (2) The shareholders re-appointed Deloitte & Touche LLP as the Company’s independent auditors for the 2021 fiscal year and authorized the Company’s Board of Directors to fix its remuneration.

 

  (3) The shareholders approved, on a non-binding advisory basis, the compensation of the Company’s named executive officers.

 

  (4) The shareholders approved the amendment and restatement of the Flex Ltd. 2017 Equity Incentive Plan.

 

  (5) The shareholders approved a general authorization for the Company’s Board of Directors to allot and issue Ordinary Shares.

 

  (6) The shareholders approved the renewal of the Company’s Share Purchase Mandate permitting the Company to purchase or otherwise acquire up to 20% of its own issued Ordinary Shares as of the date of the Annual Meeting.

  

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The Company’s Inspector of Elections certified the following vote tabulations from the Annual Meeting:

  

Board of Directors:
Nominee		   For     Against     Abstain     Broker
Non-Vote		  
Revathi Advaithi     432,741,254       661,167       266,233       22,445,343  
Michael D. Capellas     430,140,569       3,249,552       278,533       22,445,343  
Jennifer Li     422,958,724       10,426,270       283,660       22,445,343  
Marc A. Onetto     431,812,303       1,461,255       395,096       22,445,343  
Erin L. McSweeney     432,766,900       632,907       268,847       22,445,343  
Willy C. Shih, Ph.D.     426,316,135       6,967,184       385,335       22,445,343  
Charles K. Stevens, III     430,181,684       3,200,295       286,675       22,445,343  
Lay Koon Tan     432,621,038       656,971       390,645       22,445,343  
William D. Watkins     426,367,809       7,021,488       279,357       22,445,343  
Lawrence A. Zimmerman     432,662,515       722,491       283,648       22,445,343  

 

    For     Against     Abstain     Broker
Non-Vote		  
Re-appointment of Deloitte & Touche LLP as independent auditors for the 2021 fiscal year and to authorize the Board of Directors, upon the recommendation of the Audit Committee, to fix its remuneration     449,983,557       5,788,685       341,755       —  

 

               Broker 
   For   Against   Abstain   Non-Vote 
NON-BINDING, ADVISORY RESOLUTION relating to the compensation of the Company’s named executive officers   421,299,559    12,114,670    254,425    22,445,343 

 

    For     Against     Abstain     Broker
Non-Vote		  
Resolution to approve the amendment and restatement of the Flex Ltd. 2017 Equity Incentive Plan     420,397,729       12,999,980       270,945       22,445,343  

 

    For     Against     Abstain     Broker
Non-Vote		  
General authorization for the Board of Directors to allot and issue ordinary shares     414,406,826       19,120,105       141,723       22,445,343  

 

    For     Against     Abstain     Broker
Non-Vote		  
Renewal of the Share Purchase Mandate relating to acquisitions by the Company of up to 20% of its issued ordinary shares as of the date of the Annual Meeting     423,868,011       9,688,298       112,345       22,445,343  

  

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Item 9.01    Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit    
     
10.1   Amended and Restated Flex Ltd. 2017 Equity Incentive Plan, incorporated by reference to Annex A of the Company’s Definitive Proxy Statement dated June 26, 2020.
     
104   Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

  

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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: August 11, 2020 By:  /s/ Christopher Collier
    Name:   Christopher Collier
    Title: Chief Financial Officer

  

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