Form 4: Arrow Electronics Director Gerry P. Smith Reports Acquisition of Restricted Stock Units

Director Gerry P. Smith reports acquisition of restricted stock units in Arrow Electronics, Inc.

Summary

• Gerry P. Smith, a director of Arrow Electronics, Inc., reported the acquisition of restricted stock units.
• The transaction occurred on May 7, 2024.
• Smith acquired 1,456.47 restricted stock units, which convert into common stock on a one-for-one basis.
• The price per unit is $127.02.
• Following the transaction, Smith beneficially owns 6,872.07 derivative securities.
• The restricted stock units are scheduled to vest on the earlier of May 7, 2025, or one day prior to the company's 2025 annual shareholder meeting, subject to continued service.
• Immediate vesting occurs in the event of death, disability, or involuntary termination without cause following a change of control.
• Smith has elected for these Restricted Stock Units to settle upon separation from service on the Board of Directors.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of a director acquiring restricted stock units, which is a common practice. It doesn't inherently indicate positive or negative sentiment, but rather a routine part of executive compensation.

Positives

• The acquisition of restricted stock units by a director signals confidence in the company's future performance.

Future Outlook

The restricted stock units are scheduled to vest on the earlier of May 7, 2025, or one day prior to the company's 2025 annual shareholder meeting, subject to continued service. Smith has elected for these Restricted Stock Units to settle upon separation from service on the Board of Directors.

Management Comments

• Mr. Smith has elected for these Restricted Stock Units to settle upon separation from service on the Board of Directors.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders and their confidence in the company's stock.

Comparison to Industry Standards

• Director compensation packages often include restricted stock units to align the interests of management with those of shareholders.
• Vesting schedules and terms are typical for such awards, often tied to continued service and company performance.
• The reporting requirements are standard under Section 16(a) of the Securities Exchange Act of 1934.

Stakeholder Impact

• The acquisition of restricted stock units by a director can be viewed positively by shareholders as it aligns the director's interests with the company's long-term success.

Key Dates