Form 4: Avnet Director Rodney C. Adkins Reports Changes in Beneficial Ownership

Director Rodney C. Adkins reports changes in beneficial ownership of Avnet Inc. stock, including the acquisition of phantom stock units due to a quarterly dividend.

Summary

• Rodney C. Adkins, a director of Avnet Inc., filed a Form 4 to report changes in beneficial ownership.
• The report indicates that Adkins acquired 30 phantom stock units (PSUs) as a result of a quarterly dividend on June 18, 2024.
• Each PSU represents one share of Avnet's common stock and will be settled in common stock upon Adkins leaving the Board or a change of control of the Issuer.
• The price of the derivative security is $52.88.
• Following the reported transaction, Adkins directly owns 33,044 shares of Avnet common stock and 5,154 phantom stock units.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing indicating changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

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 stake in the company's performance through stock ownership and derivative securities.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a company director.

Key Dates