AI English summary of an SEC filing — figures as filed

Flex said on November 22, 2024 that Kevin S. Krumm was appointed Chief Financial Officer effective January 6, 2025, and Jaime Martinez will cease to serve as interim Chief Financial Officer as of that date.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Nov 22, 2024Period of report Nov 18, 2024Summary published (UTC) Oct 25, 2026

Key points

AI summary

Flex said on November 22, 2024 that Kevin S. Krumm was appointed Chief Financial Officer effective January 6, 2025, and Jaime Martinez will cease to serve as interim Chief Financial Officer as of that date.
The company said Mr. Krumm has been Executive Vice President and Chief Financial Officer of APi Group Corporation since September 2021, spent 15 years at Ecolab Inc., and holds a bachelor's degree in accounting from the University of Northern Iowa and an MBA from the University of Chicago Booth School of Business.
Flex said Mr. Krumm's annual base salary under his offer letter will be $832,000, with a target annual bonus of 115% of base salary and a maximum opportunity of 200% of target. The company said his long-term share-based incentive compensation will consist of 50% performance-based restricted share units (PSUs) and 50% service-based restricted share units (RSUs), with a combined target value of $2,900,000.
Flex said it will grant Mr. Krumm a one-time RSU make-whole award with a grant date fair value of $5,800,000 and a one-time sign-on cash bonus of $3,500,000 to offset incentive compensation he forfeits by leaving his current employer. The company said he must repay the cash bonus if, within 24 months of his employment start date, he voluntarily resigns (other than for Good Reason) or is terminated for Cause.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Kevin S. Krumm Appointed Chief Financial Officer

Flex said on November 22, 2024 that Kevin S. Krumm was appointed Chief Financial Officer effective January 6, 2025, and Jaime Martinez will cease to serve as interim Chief Financial Officer as of that date.

Source · Based on the filing body and exhibits

Krumm's Experience and Education

The company said Mr. Krumm has been Executive Vice President and Chief Financial Officer of APi Group Corporation since September 2021, spent 15 years at Ecolab Inc., and holds a bachelor's degree in accounting from the University of Northern Iowa and an MBA from the University of Chicago Booth School of Business.

Source · Based on the filing body and exhibits

Salary, Bonus and Long-Term Equity Terms

Flex said Mr. Krumm's annual base salary under his offer letter will be $832,000, with a target annual bonus of 115% of base salary and a maximum opportunity of 200% of target. The company said his long-term share-based incentive compensation will consist of 50% performance-based restricted share units (PSUs) and 50% service-based restricted share units (RSUs), with a combined target value of $2,900,000.

Source · Based on the filing body and exhibits

Sign-On Compensation and Clawback Terms

Flex said it will grant Mr. Krumm a one-time RSU make-whole award with a grant date fair value of $5,800,000 and a one-time sign-on cash bonus of $3,500,000 to offset incentive compensation he forfeits by leaving his current employer. The company said he must repay the cash bonus if, within 24 months of his employment start date, he voluntarily resigns (other than for Good Reason) or is terminated for Cause.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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