Form 4: Avnet Inc. Executive Elizabeth McMullen Reports Stock Transaction

Senior VP of Operations at Avnet Inc., Elizabeth McMullen, reports a transaction involving the surrender of shares to cover taxes related to vesting Restricted Stock Units.

Summary

• Elizabeth McMullen, Senior VP of Operations at Avnet Inc., filed a Form 4 indicating a transaction on January 3, 2025.
• The transaction involved the surrender of 1,197 common stock shares to cover taxes related to the vesting of Restricted Stock Units (RSUs).
• The shares were surrendered at a price of $52.28 per share.
• Following the transaction, Ms. McMullen beneficially owns 18,626 shares of Avnet Inc. common stock.
• This total includes 5,742 shares underlying RSUs and 3,028 shares underlying Performance Stock Units (PSUs) that have been earned but not yet vested or delivered.

Sentiment

Score: 7

Explanation: The document is a routine filing of a stock transaction related to executive compensation. It is neither positive nor negative, but rather a standard procedure. The sentiment is neutral to slightly positive as it indicates the executive is receiving compensation.

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of executives receiving stock-based compensation and the subsequent tax obligations.

Comparison to Industry Standards

• The reporting of stock transactions by executives is a standard practice across publicly traded companies, as mandated by the SEC.
• The use of RSUs and PSUs as part of executive compensation is also a common practice in the technology and electronics distribution industry, similar to companies like Arrow Electronics and Ingram Micro.
• The tax withholding process through share surrender is a typical method for handling tax obligations related to stock vesting.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine part of executive compensation.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, Avnet Inc, Elizabeth McMullen, Stock Transaction, Restricted Stock Units, RSUs, Performance Stock Units, PSUs, Beneficial Ownership, Executive Compensation