Insider Filing: AVT Director Maddock Reports Dividend-Linked PSU Increase

Rhea-AI Filing Summary

Avnet, Inc. (AVT) – Form 4 insider filing dated 06/18/2025

Director Ernest E. Maddock reported a small, routine equity accrual linked to the company’s dividend reinvestment feature. On 06/18/2025 he acquired 76 Phantom Stock Units (PSUs) at an implied reference price of $51.54 per unit, coded “A” on the Form 4, indicating an acquisition rather than a sale. Each PSU represents one share of Avnet common stock and will convert to common shares when Maddock leaves the Board or if a change-of-control event occurs. Following the transaction he now holds 11,889 PSUs directly. No open-market purchases or disposals of Avnet’s common stock were reported; Maddock’s direct common-share ownership remains at 5,265 shares. The filing reflects ordinary, dividend-equivalent compensation and does not signal any change in the company’s strategic outlook or governance structure. Overall, the event is administratively important but financially immaterial for investors.

Insights

Financial Analyst

TL;DR: Minor dividend-related PSU accrual; negligible valuation impact.

The acquisition of 76 PSUs—worth roughly $3,915 at the reference price—raises Maddock’s total derivative exposure to 11,889 units. Because the units vest only after board departure or a change of control, the filing reinforces long-term alignment without affecting near-term share float or cash flow. No common-stock transactions occurred, and the director’s direct share count is unchanged at 5,265. Given Avnet’s $4 billion-plus market cap, this transaction is <1 bps of equity and therefore immaterial to valuation or liquidity. I classify the news as neutral.

Corporate Governance Expert

TL;DR: Routine equity compensation, no governance red flags.

Dividend-related PSUs are standard for directors and maintain incentive alignment with shareholders. The settlement terms—upon board exit or control change—promote long-term stewardship. No discretionary trades, 10b5-1 plan usage, or unusual timing is indicated. Compliance with Section 16 reporting appears timely and complete. Consequently, the filing has no material governance impact and does not alter risk assessment.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MADDOCK ERNEST E

(Last) (First) (Middle)

C/O AVNET, INC.

2211 SOUTH 47TH STREET

(Street)

PHOENIX AZ 85034

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AVNET INC [ AVT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								5,265	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units(1)	(1)	06/18/2025		A		76(2)		(1)	(1)	Common Stock	76	$51.54	11,889	D

Explanation of Responses:

1. Each Phantom Stock Unit ("PSU") equals one share of the Issuer's common stock, and will be settled in the Issuer's common stock after the reporting person leaves the Issuer's Board or upon change of control of the Issuer.

2. Additional PSUs acquired as a result of the quarterly dividend.

	/s/ Darrel S. Jackson, Attorney-In-Fact	06/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Avnet (AVT) disclose in its 06/18/2025 Form 4?

Director Ernest E. Maddock acquired 76 Phantom Stock Units via dividend equivalency; no common-stock trades were reported.

How many Phantom Stock Units does Ernest E. Maddock now hold?

After the transaction, he owns 11,889 PSUs directly.

At what price were the 76 PSUs credited to the director?

The Form 4 lists an implied price of $51.54 per PSU.

Were any Avnet common shares bought or sold in this filing?

No. Maddock’s direct common-share count remains unchanged at 5,265 shares.

When will the reported PSUs convert into Avnet common stock?

PSUs settle in common stock after Maddock leaves the Board or upon a change of control.