“This decision resulted in the effective dismissal of KPMG LLP as the Company’s independent registered public accounting firm.”
Debt Financings
AVNET INC incurred convertible notes of $650.0 million with Initial Purchasers at 1.75% per year maturing September 1, 2030.
“On September 5, 2025, Avnet, Inc. (“Avnet” or the “Company”) issued and sold $650.0 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2030 (the “Notes”)”
Debt Financings
AVNET INC incurred term loan of $150,000,000 in U.S. Dollar denominated term loans and an aggregate principal amount of €100,000,000 in Euro denominated with Bank of America, N.A., as the administrative agent at (a) the 'base rate' ... plus an 'applicable rate', (b) the SOFR daily floating r.
“On July 1, 2025 (the “Closing Date”), Avnet Holding Europe BV (“Avnet Europe”), as borrower, and Avnet, Inc. (“Avnet”), as guarantor, entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto and Bank of America, N.A., as the administrative agent. On the Closing Date, Avnet Europe borrowed an aggregate principal amount of $150,000,000 in U.S. Dollar denominated term loans and an aggregate principal amount of €100,000,000 in Euro denominated term loans.”
Helmut Gassel was elected as Director at AVNET INC.
“Effective on August 15, 2024, the Board of Directors of Avnet, Inc. (the “Company”) elected Virginia L. Henkels and Helmut Gassel to serve as directors of the Company.”
Virginia L. Henkels was elected as Director at AVNET INC.
“Effective on August 15, 2024, the Board of Directors of Avnet, Inc. (the “Company”) elected Virginia L. Henkels and Helmut Gassel to serve as directors of the Company.”
Earnings Releases
AVNET INC reported its third quarter ended March 30, 2024 results: revenue $5.7 billion, EPS $0.97.
“Act of 1933 except as shall be expressly set forth in such filing. --- EX-99.1 (EX-99.1) --- Avnet Reports Third Quarter 2024 Financial Results Third quarter sales of $5.7 billion and diluted EPS of $0.97 Adjusted diluted EPS of $1.10 Electronic Components operating margin of 4.1% PHOENIX – May 1, 2024 – Avnet, Inc. (Nasdaq: AVT ) today announced results”
Earnings Releases
AVNET INC reported second quarter ended December 30, 2023 results: revenue $6.2 billion, EPS $1.28.
“Act of 1933 except as shall be expressly set forth in such filing. --- EX-99.1 (EX-99.1) --- Avnet Reports Second Quarter 2024 Financial Results Second quarter sales of $6.2 billion and diluted EPS of $1.28 Adjusted diluted EPS of $1.40 Electronic Components operating margin of 4.3% PHOENIX – January 31, 2024 – Avnet, Inc. (Nasdaq: AVT ) today announced”
Shareholder Votes
AVNET INC shareholders approved Ratify the appointment of KPMG LLP as the Company’s independent public accounting firm for the fiscal year ending June 29, 2024. at the 2023-11-17 meeting.
“The shareholders ratified the appointment of KPMG LLP as the Company’s independent public accounting firm for the fiscal year ending June 29, 2024.”
Shareholder Votes
AVNET INC shareholders approved Approve, on an advisory basis, holding advisory votes every 1 YEAR on the compensation of the Company’s named executive officers (“say on pay”). at the 2023-11-17 meeting.
“The shareholders approved, on an advisory basis, holding advisory votes every 1 YEAR on the compensation of the Company’s named executive officers (“ say on pay ”). The voting results were as follows:”
Shareholder Votes
AVNET INC shareholders approved Approve, on an advisory basis, the compensation of the Company’s named executive officers at the 2023-11-17 meeting.
“The proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers was approved , having received the following votes:”
Shareholder Votes
AVNET INC shareholders approved Election of ten nominees to the Board of Directors at the 2023-11-17 meeting.
“The shareholders elected the ten nominees to the Board of Directors, each to serve until the next annual meeting and until their successors have been elected and qualified. The voting results for each nominee were as follows:”
Earnings Releases
AVNET INC reported first quarter ended September 30, 2023 results: revenue $6.3 billion, EPS $2.25.
“Act of 1933 except as shall be expressly set forth in such filing. --- EX-99.1 (EX-99.1) --- Avnet Reports First Quarter 2024 Financial Results First quarter sales of $6.3 billion and diluted EPS of $2.25 Adjusted diluted EPS of $1.61 exceeded guidance Electronic Components operating margin of 4.6% increased 38 basis points year over year PHOENIX –”
Earnings Releases
AVNET INC reported fourth quarter and fiscal year ended July 1, 2023 results: revenue $26.5 billion, EPS $8.26.
“Avnet Reports Fourth Quarter and Fiscal 2023 Financial Results Fiscal year 2023 sales of $26.5 billion and record diluted EPS of $8.26”
Governance Changes
AVNET INC: Amended By-Laws to update in connection with SEC universal proxy and recoupment rules, NYBCL changes, and periodic review; including provisions for virtual meetings, proxy card color, shareholder nomination procedures, chair authority, and indemnification limits (effective 2023-05-22).
“On May 22, 2023, the Board of Directors adopted amendments to the Company’s By-Laws (“Amended By-Laws”), effective immediately, to update the By-Laws in connection with SEC rules, including the recent universal proxy and recoupment of incentive-based compensation rules; recent changes to the New York Business Corporation Law; and the Board’s periodic review of the By-Laws.”
Earnings Releases
AVNET INC reported second quarter ended December 31, 2022 results: revenue $6,717.5 million, EPS $2.63.
“Avnet Reports Second Quarter Fiscal 2023 Financial Results Second quarter sales of $6.7 billion up 14.5% year over year Operating income of $299 million grew nearly three times faster than sales PHOENIX – February 1, 2023 – Avnet, Inc. (Nasdaq: AVT ) today announced results for its second quarter ended December 31, 2022.”
Debt Financings
AVNET INC amended debt of $650,000,000 with Wells Fargo Bank, N.A., as agent for the purchasers at daily Term SOFR-based benchmark interest rate maturing December 16, 2024.
“The Amendment, which amended Avnet's existing Fourth Amended and Restated Receivables Purchase Agreement, dated as of August 16, 2018 (as amended, modified and supplemented, the “Receivables Purchase Agreement”), provides for, among other things, (i) an increase in the maximum purchase limit under the Receivables Purchase Agreement from $450,000,000 to $650,000,000, (ii) the implementation of a daily Term SOFR-based benchmark interest rate, (iii) amendments to the qualifications for eligible receivables under the Receivables Purchase Agreement, and (iv) extending the termination date to December 16, 2024.”
Material Agreements
AVNET INC amended Fourth Amended and Restated Receivables Purchase Agreement with Wells Fargo Bank, N.A. valued at $650,000,000 (effective 2022-12-16).
“On December 16, 2022, Avnet, Inc. (“Avnet”) and Avnet Receivables Corporation, a wholly owned subsidiary of Avnet (“ARC”), entered into an Amendment No. 6 (the “Amendment”) to the Fourth Amended and Restated Receivables Purchase Agreement with Wells Fargo Bank, N.A., as agent for the purchasers (the “Agent”), and the companies and financial institutions party thereto (collectively, the “Purchasers”).”
Shareholder Votes
AVNET INC shareholders approved Ratify appointment of KPMG LLP as independent auditor at the 2022-11-17 meeting.
“Proposal 3 –To ratify the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending July 1, 2023.”
Shareholder Votes
AVNET INC shareholders approved Advisory approval of executive compensation at the 2022-11-17 meeting.
“Proposal 2 – To approve, on an advisory basis, the compensation of the Company’s named executive officers.”
Shareholder Votes
AVNET INC shareholders approved Election of ten directors at the 2022-11-17 meeting.
“Proposal 1 – The election of ten directors to serve on the Board of Directors until the next annual meeting and until their successors have been elected and qualified.”
Kenneth A. Jacobson was appointed as Chief Financial Officer at AVNET INC.
“On September 6, 2022, Avnet, Inc. announced that the Avnet Board of Directors appointed Kenneth A. Jacobson to serve as Chief Financial Officer (principal financial officer), effective September 6, 2022.”
Kenneth Jacobson was appointed as Chief Financial Officer at AVNET INC.
“Kenneth Jacobson will become Avnet’s new CFO on September 6, 2022.”
Thomas Liguori changed role as Chief Financial Officer at AVNET INC.
“Thomas Liguori, who has served as CFO since January 2018, will transition from the CFO role on September 6, 2022.”
Ernest E. Maddock was elected as Director at AVNET INC.
“Effective on August 25, 2021, the Board of Directors of Avnet, Inc. (the “Company”) elected Ernest E. Maddock to serve as a director of the Company.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.