Avnet (AVT) CEO Philip R. Gallagher Receives Award, Sells 12,476 Shares

What Happened

• Philip R. Gallagher, CEO of Avnet, Inc. (AVT), was granted 29,811 shares (award/acquisition) on 2026-08-27 as performance stock units under Avnet’s long-term incentive plan, and on the same date surrendered 12,476 shares to satisfy tax withholding obligations. The surrendered shares were valued at $87.81 each for a total of $1,095,518. The award shares were granted at $0.00 (no cash purchase).

Key Details

• Transaction dates: 2026-08-27 (reported on Form 4 filed 2026-08-28).
• Grant: 29,811 shares (award) at $0.00 — performance stock units (F1).
• Tax withholding/disposition: 12,476 shares disposed at $87.81 each, total ≈ $1,095,518 (F2).
• Holdings note: filing footnote indicates 214,262 shares earned but not yet vested are included in reported holdings (F3).
• Other note: a previously granted option vests in four equal annual installments starting one year after grant (F4).
• Filing timeliness: Report filed the day after the transactions (no late filing flag indicated).

Context

• The 29,811-share entry represents an awarded grant (not an open-market purchase) — awards are a form of compensation rather than an investment buy signal.
• The 12,476-share disposition was a share surrender to cover taxes (routine withholding), not an open-market sale for investment purposes.
• For retail investors, routine tax withholdings and award grants are common executive compensation mechanics and do not necessarily indicate a change in the CEO’s view of the company’s prospects.