Form 4: Avnet Director Maddock Reports Acquisition of Phantom Stock Units Due to Dividend
SEC Filing
Director Ernest E. Maddock reports acquisition of 47 phantom stock units of Avnet Inc. due to a quarterly dividend.
Summary
- Ernest E. Maddock, a director of Avnet Inc. (AVT), filed a Form 4 on June 20, 2024, reporting a transaction on June 18, 2024.
- The transaction involved the acquisition of 47 phantom stock units (PSUs) due to a quarterly dividend.
- Each PSU is equivalent to one share of Avnet's common stock and will be settled in common stock upon the director leaving the board or a change of control.
- Following the transaction, Maddock directly owns 5,265 shares of Avnet common stock and 8,190 phantom stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock ownership, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's securities, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 06/18/2024 | Date of transaction: Acquisition of phantom stock units. |
| 06/20/2024 | Date of Form 4 filing. |
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