Form 4: Avnet CEO Philip Gallagher Reports Stock Transactions
SEC Form 4 Filing
Philip Gallagher, CEO of Avnet, Inc., reports the disposition of shares to cover taxes related to vesting restricted stock units and updates beneficial ownership.
Summary
- On January 3, 2025, Philip Gallagher, CEO of Avnet, Inc., disposed of 26,341 shares of common stock to cover taxes related to the vesting of Restricted Stock Units at a price of $52.28 per share.
- Following the transaction, Gallagher directly owns 205,471 shares of Avnet common stock.
- Gallagher also indirectly owns 139,709 shares through the Gallagher Family Trust.
- The reported direct ownership includes 106,707 shares underlying Restricted Stock Units (RSUs) and 55,618 shares underlying Performance Stock Units (PSUs) that have been earned but not yet vested or delivered.
Sentiment
Score: 5
Explanation: This is a neutral filing related to routine stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to equity compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/03/2025 | Date of stock transaction (disposal of shares). |
| 01/06/2025 | Date of signature by Attorney-In-Fact. |
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