AVNET INC - 8-K Filing Summary
Business Context and Reporting Period
This Form 8-K Current Report, dated November 17, 2022, documents the results of Avnet, Inc.'s 2022 Annual Meeting of Shareholders. The meeting was held on November 17, 2022, with a record date of September 19, 2022. As of the record date, there were 93,095,858 shares of common stock outstanding. A quorum was established with 86,786,378 shares (approximately 93.22%) represented in person or by proxy.
Key Financial Metrics
This filing is a corporate governance report regarding shareholder voting results. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes
No material financial changes or operational updates are reported in this document. The filing solely addresses the outcomes of three shareholder proposals.
Shareholder Voting Results and Governance
The shareholders voted on three proposals, all of which were approved:
- Proposal 1 (Election of Directors): All ten director nominees were elected to serve until the next annual meeting. While all were elected, vote counts varied, with Rodney C. Adkins and Adalio T. Sanchez receiving the highest number of "Against" votes (6,071,948 and 2,354,998, respectively).
- Proposal 2 (Executive Compensation): Shareholders approved, on a non-binding advisory basis, the compensation of the Company's named executive officers. The vote was 79,329,018 For, 2,995,098 Against, and 79,508 Abstain.
- Proposal 3 (Ratification of Auditors): Shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending July 1, 2023. The vote was 84,804,094 For, 1,848,268 Against, and 134,016 Abstain.
Investor Verification Checklist
- Verify the specific reasons for the higher "Against" votes for directors Rodney C. Adkins and Adalio T. Sanchez compared to other nominees.
- Review the Company's Proxy Statement filed in connection with the Annual Meeting for detailed descriptions of the proposals and director biographies.
- Confirm the fiscal year end date of July 1, 2023, for future financial reporting cycles.
- Note that this 8-K contains no financial performance data; refer to the most recent 10-Q or 10-K for financial metrics.