Flex Ltd. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Other Events
$FLEX
Electrical Products
Technology
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 8, 2024
(Exact Name of Registrant as Specified in Its Charter)
| Not Applicable | |||||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
| (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:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
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. | ☐ | |||||||
Item 5.07 Submission of Matters to a Vote of Security Holders.
On August 8, 2024, Flex Ltd. (the “Company”) held its 2024 Annual General Meeting. There were 398,803,737 Ordinary Shares entitled to be voted and 367,911,599 Ordinary Shares were voted in person or by proxy at the Annual General Meeting.
At the Annual General Meeting:
(1) The shareholders re-elected the nine (9) nominees for director.
(2) The shareholders re-appointed Deloitte & Touche LLP as the Company’s independent auditors for the 2025 fiscal year and authorized the Company’s Board of Directors, upon the recommendation of the Audit Committee of the Board of Directors, to fix their remuneration.
(3) The shareholders approved, on a non-binding, advisory basis, the compensation of the Company’s named executive officers.
(4) The shareholders approved a general authorization for the Company’s Board of Directors to allot and issue Ordinary Shares.
(5) 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 and outstanding Ordinary Shares as of the date of the Annual General Meeting.
The Company’s Inspector of Elections certified the following vote tabulations from the Annual General Meeting:
| Board of Directors: | Broker | |||||||||||||||||||||||||
| Nominee | For | Against | Abstain | Non-Votes | ||||||||||||||||||||||
| Revathi Advaithi | 348,417,415 | 892,472 | 73,318 | 18,528,394 | ||||||||||||||||||||||
| John D. Harris II | 346,053,136 | 3,269,974 | 60,095 | 18,528,394 | ||||||||||||||||||||||
| Michael E. Hurlston | 312,734,965 | 36,586,680 | 61,560 | 18,528,394 | ||||||||||||||||||||||
| Erin L. McSweeney | 343,247,898 | 6,076,735 | 58,572 | 18,528,394 | ||||||||||||||||||||||
| Charles K. Stevens, III | 339,577,771 | 9,743,718 | 61,716 | 18,528,394 | ||||||||||||||||||||||
| Maryrose T. Sylvester | 346,542,896 | 2,783,866 | 56,443 | 18,528,394 | ||||||||||||||||||||||
| Lay Koon Tan | 339,625,087 | 9,697,621 | 60,497 | 18,528,394 | ||||||||||||||||||||||
| Patrick J. Ward | 348,452,062 | 867,988 | 63,155 | 18,528,394 | ||||||||||||||||||||||
| William D. Watkins | 338,409,577 | 10,915,986 | 57,642 | 18,528,394 | ||||||||||||||||||||||
| Broker | ||||||||||||||||||||||||||
| For | Against | Abstain | Non-Votes | |||||||||||||||||||||||
| Re-appointment of Deloitte & Touche LLP | 347,687,406 | 19,905,528 | 318,665 | — | ||||||||||||||||||||||
| as the Company's independent auditors for the | ||||||||||||||||||||||||||
| 2024 fiscal year and to authorize the Board of | ||||||||||||||||||||||||||
| Directors, upon the recommendation of the | ||||||||||||||||||||||||||
| Audit Committee of the Board of Directors, to | ||||||||||||||||||||||||||
| fix their remuneration | ||||||||||||||||||||||||||
2
| Broker | ||||||||||||||||||||||||||
| For | Against | Abstain | Non-Votes | |||||||||||||||||||||||
| Non-binding, advisory resolution relating to | 335,630,252 | 8,871,438 | 4,881,515 | 18,528,394 | ||||||||||||||||||||||
| the compensation of the Company's named | ||||||||||||||||||||||||||
| executive officers | ||||||||||||||||||||||||||
| Broker | ||||||||||||||||||||||||||
| For | Against | Abstain | Non-Votes | |||||||||||||||||||||||
| General authorization for the Board of | 310,137,276 | 38,898,505 | 347,424 | 18,528,394 | ||||||||||||||||||||||
| Directors to allot and issue Ordinary Shares | ||||||||||||||||||||||||||
| Broker | ||||||||||||||||||||||||||
| For | Against | Abstain | Non-Votes | |||||||||||||||||||||||
| Renewal of the Share Purchase Mandate | 338,608,115 | 8,992,210 | 1,782,880 | 18,528,394 | ||||||||||||||||||||||
| relating to acquisitions by the Company of | ||||||||||||||||||||||||||
| up to 20% of its issued and outstanding | ||||||||||||||||||||||||||
| Ordinary Shares as of the date of the Annual | ||||||||||||||||||||||||||
| General Meeting | ||||||||||||||||||||||||||
Item 8.01 Other Events.
The Company announced that it has received shareholder approval to purchase up to 20% of the Company’s issued and outstanding Ordinary Shares, and the Company’s Board of Directors has authorized management to continue its share repurchase plan for the Company’s issued Ordinary Shares in an aggregate amount not to exceed $1.7 billion. Share repurchases, if any, will be made in the open market and in compliance with SEC Rule 10b-18. The timing and actual number of shares repurchased will depend on a variety of factors including price, market conditions and applicable legal requirements. The share repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended or terminated at any time without prior notice.
3
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 9, 2024 | |||||||||||
| By: | /s/ Scott Offer | ||||||||||
| Name: Title: | Scott Offer Executive Vice President and General Counsel | ||||||||||
4