The Pantech Flex features a 4.3 inch Super AMOLED touch display with a 540 by 920 pixel resolution, 8GB of internal storage which can be expanded through microSD, an 8 megapixel camera capable of 1080p HD video capture, a secondary 2 megapixel camera for video calls and is powered by a 1.5GHz dual-core processor with 1GB of RAM. Additionally you have a 1830mAh battery powering your handset.
The update is being rolled out in phases, so it maybe awhile before it reaches your handset. You should be able to initiate the update when you receive the notification. You can also manually check for the update under Settings.
source - AT&T