AVNET INC. 8-K Filing Summary
Business Context and Reporting Period
This Form 8-K Current Report, filed on November 19, 2020, covers the results of AVNET, Inc.'s 2020 Annual Meeting of Shareholders held on November 17, 2020. The report details the voting outcomes for three proposals submitted to shareholders.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a report on corporate governance voting results.
Material Changes and Voting Results
As of the record date (September 18, 2020), there were 98,836,102 shares of common stock outstanding. Approximately 93.67% of these shares were represented at the meeting, constituting a quorum. The voting results for the three proposals were as follows:
- Proposal 1 (Election of Directors): All ten director nominees were elected. Votes ranged from approximately 82.8 million "For" (Rodney C. Adkins) to 87.8 million "For" (William H. Schumann III).
- Proposal 2 (Executive Compensation): Shareholders approved the compensation of named executive officers on a non-binding advisory basis. The vote was 84,660,966 "For" versus 3,564,253 "Against."
- 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 3, 2021. The vote was 91,094,654 "For" versus 1,427,845 "Against."
Guidance, Outlook, and Risks
The filing text does not provide management commentary, financial guidance, outlook, risks, contingencies, or unusual items. The report is limited to the disclosure of shareholder vote tallies.
Key Facts for Investor Verification
- Verify the final composition of the Board of Directors following the election of all ten nominees.
- Confirm the ratification of KPMG LLP as the auditor for the fiscal year ending July 3, 2021.
- Note the high level of shareholder participation (93.67%) and the strong approval margins for executive compensation and auditor ratification.