Item 16. FORM 10-K SUMMARY
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Item 16. FORM 10-K SUMMARY
None
EXHIBIT INDEX
| Incorporated by Reference | ||||||||||||||||||||||||||||||||||||||
| Exhibit No. | Exhibit | Form | File No. | Filing Date | Exhibit No. | Filed Herewith | ||||||||||||||||||||||||||||||||
| 3.01 | Constitution of the Registrant (incorporating all amendments as at August 20, 2019) | 10-Q | 000-23354 | 10/30/2019 | 3.01 | |||||||||||||||||||||||||||||||||
| 4.01 | Indenture, dated as of June 8, 2015, by and between the Registrant, the Guarantors party thereto and U.S. Bank National Association, as Trustee | 8-K | 000-23354 | 6/8/2015 | 4.1 | |||||||||||||||||||||||||||||||||
| 4.02 | Form of 4.750% Note due 2025 (included in Exhibit 4.01) | 8-K | 000-23354 | 6/8/2015 | 4.1 | |||||||||||||||||||||||||||||||||
| 4.03 | First Supplemental Indenture, dated as of September 11, 2015, among the Registrant, the Guarantor party thereto and U.S. Bank National Association, as Trustee, related to the Registrant’s 4.750% Notes due 2025 | S-4 | 333-207067 | 9/22/2015 | 4.04 | |||||||||||||||||||||||||||||||||
| 4.04 | Indenture, dated as of June 6, 2019, by and between the Company and U.S. Bank National Association, as trustee | 8-K | 000-23354 | 6/6/2019 | 4.1 | |||||||||||||||||||||||||||||||||
| 4.05 | First Supplemental Indenture, dated as of June 6, 2019, by and between the Company and U.S. Bank National Association, as trustee | 8-K | 000-23354 | 6/6/2019 | 4.2 | |||||||||||||||||||||||||||||||||
| 4.06 | Form of 4.875% Global Note due 2029 (included in Exhibit 4.05) | 8-K | 000-23354 | 6/6/2019 | 4.3 | |||||||||||||||||||||||||||||||||
| 4.07 | Second Supplemental Indenture, dated as of November 7, 2019, by and between the Company and U.S. Bank National Association, as trustee | 8-K | 000-23354 | 11/7/2019 | 4.3 | |||||||||||||||||||||||||||||||||
| 4.08 | Form of 4.875% Global Note due 2029 (included in Exhibit 4.07) | 8-K | 000-23354 | 11/7/2019 | 4.4 | |||||||||||||||||||||||||||||||||
| 4.09 | Third Supplemental Indenture dated as of May 12, 2020, by and between the Company and U.S. Bank National Association, as trustee | 8-K | 000-23354 | 5/12/2020 | 4.2 | |||||||||||||||||||||||||||||||||
| 4.10 | Form of 3.750% Global Note due 2026 (included in Exhibit 4.09) | 8-K | 000-23354 | 5/12/2020 | 4.3 | |||||||||||||||||||||||||||||||||
| 4.11 | Form of 4.875% Global Note due 2030 (included in Exhibit 4.09) | 8-K | 000-23354 | 5/12/2020 | 4.4 |
| Incorporated by Reference | ||||||||||||||||||||||||||||||||||||||
| Exhibit No. | Exhibit | Form | File No. | Filing Date | Exhibit No. | Filed Herewith | ||||||||||||||||||||||||||||||||
| 4.12 | Fourth Supplemental Indenture, dated as of August 17, 2020, by and between the Company and U.S. Bank National Association, as trustee | 8-K | 000-23354 | 8/17/2020 | 4.3 | |||||||||||||||||||||||||||||||||
| 4.13 | Form of 3.750% Global Note due 2026 (included in Exhibit 4.12) | 8-K | 000-23354 | 8/17/2020 | 4.4 | |||||||||||||||||||||||||||||||||
| 4.14 | Form of 4.875% Global Note due 2030 (included in Exhibit 4.12) | 8-K | 000-23354 | 8/17/2020 | 4.5 | |||||||||||||||||||||||||||||||||
| 4.15 | Fifth Supplemental Indenture, dated as of December 7, 2022, by and between the Company and U.S. Bank Trust Company, National Association, as trustee | 8-K | 000-23354 | 12/7/2022 | 4.2 | |||||||||||||||||||||||||||||||||
| 4.16 | Form of 6.000% Global Note due 2028 (included in Exhibit 4.15) | 8-K | 000-23354 | 12/7/2022 | 4.3 | |||||||||||||||||||||||||||||||||
| 4.17 | Sixth Supplemental Indenture, dated as of August 21, 2024, by and between the Company and U.S. Bank Trust Company, National Association, as trustee | 8-K | 000-23354 | 8/21/2024 | 4.2 | |||||||||||||||||||||||||||||||||
| 4.18 | Form of 5.250% Global Note due 2032 (included in Exhibit 4.17) | 8-K | 000-23354 | 8/21/2024 | 4.3 | |||||||||||||||||||||||||||||||||
| 4.19 | Description of Registrant's Securities | 10-K | 000-23354 | 5/28/2020 | 4.14 | |||||||||||||||||||||||||||||||||
| 10.01 | Credit Agreement, dated as of July 19, 2022, among Flex Ltd. and certain of its subsidiaries, from time to time party thereto, as borrowers, Bank of America, N.A., as Administrative Agent, an L/C Issuer and a Swing Line Lender, and the other L/C Issuers, Swing Line Lenders and Lenders party thereto | 8-K | 000-23354 | 7/22/2022 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.02 | Form of Indemnification Agreement between the Registrant and its Directors and certain officers† | 10-K | 000-23354 | 5/20/2009 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.03 | Form of Indemnification Agreement between Flextronics Corporation and the Directors and certain officers of the Registrant† | 10-K | 000-23354 | 5/20/2009 | 10.02 | |||||||||||||||||||||||||||||||||
| 10.04 | Flex Ltd. 2017 Equity Incentive Plan (as amended and restated as of August 2, 2023)† | DEF 14A | 000-23354 | 6/21/2023 | Annex B | |||||||||||||||||||||||||||||||||
| 10.05 | First Amendment to Flex Ltd. 2017 Equity Incentive Plan (as amended and restated as of August 2, 2023) effective as of March 5, 2025† | 8-K | 000-23354 | 3/7/2025 | 10.1 | |||||||||||||||||||||||||||||||||
| 10.06 | Form of Restricted Share Unit Award Agreement under the Amended and Restated Flex Ltd. 2017 Equity Incentive Plan for performance-based vesting awards (FY23)† | 10-Q | 000.23354 | 7/29/2022 | 10.03 | |||||||||||||||||||||||||||||||||
| 10.07 | Form of Restricted Share Unit Award Agreement under the Flex Ltd. Amended and Restated 2017 Equity Incentive Plan for Non-Employee Directors† | 10-Q | 000-23354 | 10/31/2022 | 10.02 | |||||||||||||||||||||||||||||||||
| 10.08 | Form of Restricted Share Unit Award Agreement under the Amended and Restated Flex Ltd. 2017 Equity Incentive Plan for performance-based vesting awards (FY24)† | 10-Q | 000-23354 | 7/31/2023 | 10.03 | |||||||||||||||||||||||||||||||||
| 10.09 | Form of Restricted Share Unit Award Agreement under the Amended and Restated 2017 Equity Incentive Plan for service-based vesting awards (FY25)† | 10-Q | 000-23354 | 7/26/2024 | 10.03 | |||||||||||||||||||||||||||||||||
| 10.10 | Form of Restricted Share Unit Award Agreement under the Amended and Restated 2017 Equity Incentive Plan for performance-based vesting awards (FY25)† | 10-Q | 000-23354 | 7/26/2024 | 10.04 |
| Incorporated by Reference | ||||||||||||||||||||||||||||||||||||||
| Exhibit No. | Exhibit | Form | File No. | Filing Date | Exhibit No. | Filed Herewith | ||||||||||||||||||||||||||||||||
| 10.11 | Form of Restricted Share Unit Award Agreement under the Amended and Restated 2017 Equity Incentive Plan for service-based vesting awards (FY25 2-year prorated)† | 10-Q | 000-23354 | 10/31/2024 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.12 | Form of Restricted Share Unit Award Agreement under the Amended and Restated 2017 Equity Incentive Plan for service-based vesting awards (FY25 supplemental equity)† | 10-Q | 000-23354 | 10/31/2024 | 10.02 | |||||||||||||||||||||||||||||||||
| 10.13 | Form of Restricted Share Unit Award Agreement under the Amended and Restated 2017 Equity Incentive Plan for performance-based vesting awards (FY25 supplemental equity)† | 10-Q | 000-23354 | 10/31/2024 | 10.03 | |||||||||||||||||||||||||||||||||
| 10.14 | 2010 Flextronics International USA, Inc. Deferred Compensation Plan† | 10-Q | 000-23354 | 11/3/2010 | 10.04 | |||||||||||||||||||||||||||||||||
| 10.15 | First Amendment to Flex 2010 Deferred Compensation Plan, dated December 17, 2018† | 10-Q | 000-23354 | 10/29/2021 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.16 | Second Amendment to Flex 2010 Deferred Compensation Plan, dated August 16, 2019† | 10-Q | 000-23354 | 10/29/2021 | 10.02 | |||||||||||||||||||||||||||||||||
| 10.17 | Third Amendment to Flex 2010 Deferred Compensation Plan, dated June 3, 2020† | 10-Q | 000-23354 | 10/29/2021 | 10.03 | |||||||||||||||||||||||||||||||||
| 10.18 | Form of Award Agreement under 2010 Deferred Compensation Plan† | 10-Q | 000-23354 | 7/30/2012 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.19 | Form of 2010 Deferred Compensation Plan Award Agreement (performance targets, cliff vesting)† | 10-Q | 000-23354 | 8/2/2013 | 10.02 | |||||||||||||||||||||||||||||||||
| 10.20 | Form of 2010 Deferred Compensation Plan Award Agreement (non-performance, periodic vesting, continuing Participant)† | 10-Q | 000-23354 | 8/2/2013 | 10.03 | |||||||||||||||||||||||||||||||||
| 10.21 | Award Agreement under the 2010 Deferred Compensation Plan† | 10-Q | 000-23354 | 7/28/2014 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.22 | Form of Addendum Award Agreement under the 2010 Deferred Compensation Plan (FY21)† | 10-Q | 000-23354 | 1/29/2021 | 10.02 | |||||||||||||||||||||||||||||||||
| 10.23 | Form of Addendum Award Agreement under the 2010 Deferred Compensation Plan (FY25)† | 10-Q | 000-23354 | 7/26/2024 | 10.05 | |||||||||||||||||||||||||||||||||
| 10.24 | Summary of Directors' Compensation† | 10-Q | 000-23354 | 10/30/2017 | 10.02 | |||||||||||||||||||||||||||||||||
| 10.25 | Flex Ltd. Amended and Restated Executive Severance Plan† | X | ||||||||||||||||||||||||||||||||||||
| 10.26 | Revathi Advaithi Offer Letter, dated February 7, 2019† | 10-K | 000-23354 | 5/21/2019 | 10.29 | |||||||||||||||||||||||||||||||||
| 10.27 | Revathi Advaithi Offer Letter Amendment, dated March 5, 2025† | X | ||||||||||||||||||||||||||||||||||||
| 10.28 | Scott Offer Amended Offer Letter, dated as of January 27, 2019† | 10-K | 000-23354 | 5/28/2020 | 10.29 | |||||||||||||||||||||||||||||||||
| 10.29 | Kevin Krumm Offer Letter, dated November 7, 2024† | 10-Q | 000-23354 | 1/31/2025 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.30 | Description of Annual Incentive Bonus Plan for Fiscal Year 2025† | 10-Q | 000-23354 | 7/26/2024 | 10.01 | |||||||||||||||||||||||||||||||||
| 10.31 | Agreement and Plan of Merger, by and among Flex Ltd., Yuma, Inc., Nextracker Inc. and Yuma Acquisition Corp, dated as of February 7, 2023 | 8-K | 000-23354 | 2/13/2023 | 10.1 | |||||||||||||||||||||||||||||||||
| 10.32 | Tax Matters Agreement, by and among Flex Ltd., Yuma, Inc., and Nextracker Inc., dates as of January 2, 2024 | 8-K | 000-23354 | 1/2/2024 | 10.2 | |||||||||||||||||||||||||||||||||
| 19.01 | Insider Trading Policy | 10-K | 000-23354 | 5/17/2024 | 19.01 |
| Incorporated by Reference | ||||||||||||||||||||||||||||||||||||||
| Exhibit No. | Exhibit | Form | File No. | Filing Date | Exhibit No. | Filed Herewith | ||||||||||||||||||||||||||||||||
| 21.01 | Subsidiaries of Registrant | X | ||||||||||||||||||||||||||||||||||||
| 23.01 | Consent of Deloitte & Touche LLP | X | ||||||||||||||||||||||||||||||||||||
| 24.01 | Power of Attorney (included on the signature page to this Form 10-K) | X | ||||||||||||||||||||||||||||||||||||
| 31.01 | Certification of Chief Executive Officer pursuant to Rule 13a-14(a) of the Exchange Act | X | ||||||||||||||||||||||||||||||||||||
| 31.02 | Certification of Chief Financial Officer pursuant to Rule 13a-14(a) of the Exchange Act | X | ||||||||||||||||||||||||||||||||||||
| 32.01 | Certification of Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) of the Exchange Act and 18 U.S.C. Section 1350* | X | ||||||||||||||||||||||||||||||||||||
| 97.01 | Executive Incentive Compensation Recoupment Policy | 10-K | 000-23354 | 5/17/2024 | 97.01 | |||||||||||||||||||||||||||||||||
| 101.INS | Inline XBRL Instance Document | X | ||||||||||||||||||||||||||||||||||||
| 101.SCH | Inline XBRL Taxonomy Extension Scheme Document | X | ||||||||||||||||||||||||||||||||||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | X | ||||||||||||||||||||||||||||||||||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | X | ||||||||||||||||||||||||||||||||||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | X | ||||||||||||||||||||||||||||||||||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | X | ||||||||||||||||||||||||||||||||||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101) | X |
*This exhibit is furnished with this Annual Report on Form 10-K, is not deemed filed with the Securities and Exchange Commission, and is not incorporated by reference into any filing of Flex Ltd. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and irrespective of any general incorporation language contained in such filing.
†Management contract, compensatory plan or arrangement.
SIGNATURES
Pursuant to the requirement of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Flex Ltd. | |||||||||||
| Date: May 21, 2025 | By: | /s/ REVATHI ADVAITHI | |||||||||
| Revathi Advaithi Chief Executive Officer |
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints jointly and severally, Revathi Advaithi and Kevin Krumm and each one of them, her or his attorneys-in-fact, each with the power of substitution, for her or him in any and all capacities, to sign any and all amendments to this Report, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that each of said attorneys-in-fact, or her or his substitutes, may do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| Signature | Title | Date | ||||||||||||
| /s/ REVATHI ADVAITHI | Chief Executive Officer (Principal Executive Officer) and Director | May 21, 2025 | ||||||||||||
| Revathi Advaithi | ||||||||||||||
| /s/ KEVIN KRUMM | Chief Financial Officer (Principal Financial Officer) | May 21, 2025 | ||||||||||||
| Kevin Krumm | ||||||||||||||
| /s/ DANIEL J. WENDLER | Senior Vice President and Chief Accounting Officer (Principal Accounting Officer) | May 21, 2025 | ||||||||||||
| Daniel J. Wendler | ||||||||||||||
| /s/ WILLIAM D. WATKINS | Chairman of the Board | May 21, 2025 | ||||||||||||
| William D. Watkins | ||||||||||||||
| /s/ JOHN D. HARRIS II | Director | May 21, 2025 | ||||||||||||
| John D. Harris II | ||||||||||||||
| /s/ MICHAEL E. HURLSTON | Director | May 21, 2025 | ||||||||||||
| Michael E. Hurlston | ||||||||||||||
| /s/ ERIN L. MCSWEENEY | Director | May 21, 2025 | ||||||||||||
| Erin L. McSweeney | ||||||||||||||
| /s/ CHARLES K. STEVENS, III | Director | May 21, 2025 | ||||||||||||
| Charles K. Stevens, III | ||||||||||||||
| /s/ MARYROSE SYLVESTER | Director | May 21, 2025 | ||||||||||||
| Maryrose Sylvester | ||||||||||||||
| /s/ LAY KOON TAN | Director | May 21, 2025 | ||||||||||||
| Lay Koon Tan | ||||||||||||||
| /s/ PATRICK J. WARD | Director | May 21, 2025 | ||||||||||||
| Patrick J. Ward |
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