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FLEX LTD.·4

May 12, 9:50 PM ET

Hartung Michael P 4

Research Summary

AI-generated summary

Updated

FLEX CCO Michael Hartung Receives Award, Sells Shares

What Happened

  • Michael P. Hartung, Chief Commercial Officer of FLEX Ltd. (FLEX), had 43,724 performance-based restricted share units (PSUs) vest and be delivered on May 8, 2026 (reported as an award/acquisition at $0).
  • On May 11, 2026 he sold a total of 22,216 shares in multiple open-market transactions, generating aggregate proceeds of approximately $3,163,027. Individual sales: 1,620 @ $138.65 ($224,616); 2,160 @ $139.67 ($301,682); 2,129 @ $140.59 ($299,306); 1,888 @ $141.49 ($267,132); 5,260 @ $142.94 ($751,842); 6,623 @ $143.76 ($952,128); 2,536 @ $144.45 ($366,321).
  • These sales were made to satisfy tax withholding obligations related to the PSU vesting (footnote F2).

Key Details

  • Dates: PSUs vested/delivered on 2026-05-08; sales executed on 2026-05-11; Form 4 filed 2026-05-12 (within the standard reporting window).
  • Sales totals: 22,216 shares sold for ≈ $3,163,027. Reported sale prices (per trades) ranged roughly $138.65–$144.45; footnotes indicate actual trade prices ranged ~$138.11–$144.80.
  • Remaining vested/held from this award: of the 43,724 PSUs that vested, 22,216 were sold for taxes and the remainder (~21,508) were retained.
  • Unvested equity: footnote F10 lists 138,416 unvested RSUs that vest on various future dates; F11 notes each RSU converts 1:1 to a share when vested.
  • Footnotes: F1 (PSUs performance certification and vesting), F2 (sales to cover tax withholding), F3–F9 (price/weighted-average details), F10–F11 (unvested RSU schedule and conversion).
  • Filing timeliness: reported on 2026-05-12 for transactions on 2026-05-08 and 05-11 (filed within the normal Form 4 deadline).

Context

  • These transactions reflect vested equity delivery followed by share sales specifically to cover tax withholding — a common, routine outcome of equity vesting and not an open-market diversification buy/sell signal by itself.
  • For retail investors, purchases by insiders are often watched more closely as potential bullish signals; sales tied to tax withholding after vesting are typically administrative.