Form 4: Avnet Director Brenda Freeman Acquires Phantom Stock Units Through Deferred Compensation Plan

Director Brenda Freeman acquired 3,442 Phantom Stock Units of Avnet, Inc. through a deferred compensation plan, based on a price of $52.28 per share.

Summary

• On January 2, 2025, Brenda Freeman, a director of Avnet, Inc., acquired 3,442 Phantom Stock Units (PSUs) of Avnet's common stock.
• The acquisition was made through the Avnet, Inc. Deferred Compensation Plan for Outside Directors, with Freeman deferring 100% of her annual stock grant.
• Each PSU represents one share of Avnet's common stock and will be settled in common stock upon Freeman's departure from the Board or a change of control of Avnet.
• The directors' annual stock grant was based on a price of $52.28 per share.
• Following the transaction, Freeman directly owns 30,921 shares of Avnet's common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a director increasing their stake in the company through a standard compensation plan.

Positives

• The acquisition of Phantom Stock Units demonstrates the director's continued investment and alignment with the company's long-term success.
• The deferred compensation plan allows directors to increase their stake in the company over time.

Future Outlook

The Phantom Stock Units will be settled in Avnet's common stock after the reporting person leaves the Issuer's Board or upon change of control of the Issuer.

Industry Context

Directors often receive stock-based compensation to align their interests with those of shareholders. Deferred compensation plans are a common way to provide this compensation while also offering tax benefits to the director.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.

Key Dates