Has anyone modified a cycling vest that is flapping around behind the shoulder?

I bought a small Pearl Izumi PRO barrier lite vest. The vest fits like a race fit. Love it. However, it doesn't have vents on the back. On higher speed plus somewhat strong wind, it will start flapping around. Other than that, I like the vest as it is light and somewhat transparent so my team jersey isn't completely covered. I cannot return it as I already cut the tags.

I was thinking of adding vents on the back by making several strategically-placed holes. Maybe I could use a hole puncher or a hot steel rod to make the holes. Has anyone done anything like this? The vest is cheap enough so I am willing to use it for this experimental solution.

Please advise! Thanks in advance.