Flex said its Board of Directors approved one-time Supplemental Equity Awards on September 25, 2024 for Michael P. Hartung and Hooi Tan, both named executive officers, upon the recommendation of the Compensation and People Committee.

1. 01

   Flex said its Board of Directors approved one-time Supplemental Equity Awards on September 25, 2024 for Michael P. Hartung and Hooi Tan, both named executive officers, upon the recommendation of the Compensation and People Committee.

2. 02

   The company said each executive's Supplemental Equity Awards have a grant date fair value at target of $4,600,000, with 50% in performance-based restricted share units (PSUs) and 50% in service-based restricted share units (RSUs).

3. 03

   Flex said the number of PSUs earned will be based on adjusted EPS Growth (CAGR) performance over fiscal years 2025 through 2027, a 3-year period, with payouts ranging from 0% to 200% of target PSUs. It said earned PSUs will vest in equal halves on March 31, 2028 and March 31, 2029.

4. 04

   The company said the RSUs will cliff vest on the 3rd anniversary of the grant date. It said executives who retire, or whose employment is terminated without cause or for good reason absent a change of control, will not be entitled to acceleration or continued vesting of PSUs or RSUs.

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