Avnet (AVT) CFO Kenneth Jacobson Receives Award; Surrenders Shares

What Happened Kenneth A. Jacobson, Chief Financial Officer of Avnet, was granted 6,388 performance stock units (PSUs) on 2026-08-27 and simultaneously surrendered 2,674 shares to satisfy tax withholding obligations. The surrendered shares were reported at $87.81 each, totaling $234,804. Net issued to Jacobson on the date = 6,388 PSUs less 2,674 shares surrendered = +3,714 shares (subject to vesting).

Key Details

• Transaction date: 2026-08-27; Form 4 filed with the SEC on 2026-08-28 (filed the next day).
• Grant: 6,388 performance stock units (transaction code A); reported acquisition price $0.00 on the form.
• Tax withholding: 2,674 shares surrendered (transaction code F) at $87.81 = $234,804.
• Footnotes: F1 — PSUs earned under Avnet’s long-term incentive plan; F2 — shares surrendered to pay taxes; F3 — filing notes inclusion of 54,256 shares earned but not vested.
• Shares owned after transaction: filing does not list a total owned-after number in the summary; it does note 54,256 earned but unvested shares are included in holdings disclosure.
• These actions are routine compensation and tax-withholding mechanics, not an open-market purchase or sale for investment purposes.

Context This was an award of PSUs (long-term incentive compensation) with a cashless-type settlement for taxes via share surrender — a common practice to cover tax liabilities on equity awards. Such grants indicate compensation, not a market-view buy or sell; tax withholding disposals are administrative and do not necessarily signal insider sentiment.