Flex COO gets share award, sells to cover taxes
Flex Ltd. Chief Operating Officer Tan Kwang Hooi reported a grant of 48,582 ordinary shares, received at no cost.
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Rhea-AI Filing Summary
Flex Ltd. Chief Operating Officer Tan Kwang Hooi reported a grant of 48,582 ordinary shares, received at no cost. Following this award, he directly holds 284,184 ordinary shares.
On the prior day, he sold a total of 10,540 ordinary shares in several open-market transactions around $146–$149 per share to cover tax withholding obligations tied to vesting restricted share units and performance-based units, according to the footnotes. His holdings also include multiple tranches of unvested RSUs scheduled to vest between June and September 2027.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Ordinary Shares | 48,582 | $0.00 | $0.00 |
| Sale | Ordinary Shares | 1,702 | $146.0945 | $249K |
| Sale | Ordinary Shares | 1,838 | $147.065 | $270K |
| Sale | Ordinary Shares | 1,770 | $147.9667 | $262K |
| Sale | Ordinary Shares | 5,230 | $149.0009 | $779K |
Footnotes (8)
- F1. The sales reported in this Form 4 represent shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted share units ("RSUs").
- F2. Price reflects weighted average sales price; actual sales prices ranged from $145.486 to $146.485. The Reporting Person undertakes to provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares purchased or sold at each separate price.
- F3. Price reflects weighted average sales price; actual sales prices ranged from $146.49 to $147.485. The Reporting Person undertakes to provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares purchased or sold at each separate price.
- F4. Price reflects weighted average sales price; actual sales prices ranged from $147.50 to $148.49. The Reporting Person undertakes to provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares purchased or sold at each separate price.
- F5. Price reflects weighted average sales price; actual sales prices ranged from $148.537 to $149.525. The Reporting Person undertakes to provide, upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares purchased or sold at each separate price.
- F6. On June 14, 2023, the Reporting Person was awarded performance-based restricted share units ("PSUs") within a preset range, with the actual number contingent upon the achievement of a certain performance criterion with respect to the three-year performance period ending on June 14, 2026. The Issuer certified the achievement of the performance criterion on June 16, 2026, and the PSUs were subject to applicable taxes upon delivery.
- F7. Includes the following: (1) 7,599 unvested RSUs, which will vest in three equal annual installments beginning on June 11, 2027; (2) 11,991 unvested RSUs, which will vest on June 12, 2027; (3) 14,643 unvested RSUs, which will vest in two equal annual installments beginning on June 12, 2027; and (4) 72,578 unvested RSUs, which will vest on September 25, 2027.
- F8. Each unvested RSU represents a contingent right to receive one unrestricted, fully transferable share for each vested RSU which has not been previously forfeited.
Key Figures
Key Terms
weighted average sales price financial
contingent right financial
FAQ
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What insider transactions did FLEX COO Tan Kwang Hooi report?
What future RSU vesting does the FLEX COO have outstanding?
How were the FLEX COO’s performance-based units determined and taxed?
AI-generated analysis. How Rhea-AI works. Not financial advice.