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

Director Oleg Khaykin reports acquiring additional phantom stock units in Avnet, Inc. due to a quarterly dividend.

Summary

• Oleg Khaykin, a director of Avnet, Inc., filed a Form 4 disclosing changes in beneficial ownership.
• The report indicates the acquisition of 246 phantom stock units (PSUs) on June 18, 2024, due to a quarterly dividend.
• Each PSU represents 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.
• The price of the phantom stock units was $52.88.
• Following the transaction, Khaykin directly owns 42,248 phantom stock units.
• Khaykin also directly owns 9,000 shares of Avnet common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a routine transaction. The acquisition of phantom stock units due to a dividend is a positive sign, but it's not a major event.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.
• The acquisition of phantom stock units due to a dividend is a positive sign for shareholders.

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 routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.

Key Dates