Flex said its Board of Directors approved the Annual Incentive Bonus Plan for fiscal 2025 on June 12, 2024. The plan gives executive officers the opportunity to earn annual cash bonuses based on achievement of pre-established performance goals.

1. 01

   Flex said its Board of Directors approved the Annual Incentive Bonus Plan for fiscal 2025 on June 12, 2024. The plan gives executive officers the opportunity to earn annual cash bonuses based on achievement of pre-established performance goals.

2. 02

   The company said the plan's performance measures are company-level operating profit, free cash flow and revenue targets, and, for certain executives, segment-level operating profit and revenue targets. The Board, or the Compensation and People Committee if delegated, retains authority to adjust payouts.

3. 03

   The company said it set target bonuses as a percentage of base salary at 165% for the Chief Executive Officer, 110% for the Chief Financial Officer, and 100% to 110% for other named executive officers. Payouts for each metric range from a threshold of 30% of target for operating profit and revenue, and 50% of target for free cash flow, to a maximum of 200% of target.

4. 04

   The company said company operating profit is the funding metric for all company bonus plans, and that sustainability metrics and individual performance could each modify actual payouts by up to +/--10 percentage points. Performance is calculated using adjusted, non-GAAP measures.

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