Form 4: Avnet Director Ernest E. Maddock Reports Acquisition of Phantom Stock Units

Director Ernest E. Maddock reports the acquisition of additional phantom stock units in Avnet, Inc. due to a quarterly dividend.

Summary

• On March 20, 2024, Ernest E. Maddock, a director of Avnet, Inc., acquired 54 phantom stock units (PSUs) as a result of the quarterly dividend.
• Following this transaction, Maddock directly owns 5,265 shares of Avnet common stock and 8,143 phantom stock units.
• Each PSU represents one share of Avnet's common stock and will be settled in common stock upon Maddock's departure from the Board or a change of control of Avnet.
• The price of the derivative security was $46.62.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director is increasing their stake in the company, which is generally a good sign. However, it's a routine transaction related to dividends.

Positives

• The acquisition of phantom stock units through dividends can be seen as a positive sign, indicating the director's continued alignment with the company's success.

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

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a director's continued investment in the company's future.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it signals director alignment with company performance.

Key Dates