Form 4: Avnet Director Oleg Khaykin Reports Acquisition of Phantom Stock Units

Director Oleg Khaykin reports acquisition of phantom stock units through Avnet's deferred compensation plan.

Summary

• Oleg Khaykin, a director of Avnet Inc., filed a Form 4 disclosing changes in beneficial ownership.
• The report details the acquisition of phantom stock units (PSUs) under Avnet's Deferred Compensation Plan for Outside Directors.
• Khaykin acquired 579 PSUs at a price of $52.813 per share due to deferral of the cash retainer.
• Additionally, 3,442 PSUs were acquired at $52.28 per share due to deferral of the annual stock grant.
• Following these transactions, Khaykin beneficially owns 47,972 PSUs.
• These PSUs will be settled in Avnet's common stock upon Khaykin leaving the Board or a change of control of Avnet.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.
• The deferred compensation plan aligns the director's interests with those of the shareholders.

Industry Context

Directors commonly use deferred compensation plans to align their interests with shareholders and manage their tax liabilities. This filing is a routine disclosure related to such a plan.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders as it relates to director compensation and alignment of interests.

Key Dates