PHOENIX--(BUSINESS WIRE)--
Avnet, Inc. (NYSE:AVT) today announced that Roy
Vallee, its Chairman and Chief Executive Officer, has established a Rule
10b5-1 plan (the "Plan") to effect the orderly sale of a small portion
of his future holdings of Avnet common stock resulting from the
potential exercise of options granted in 2001 that will expire in
September 2011. The Plan is scheduled to expire in April 2011 unless
earlier terminated pursuant to certain provisions under the Plan. Mr.
Vallee currently owns shares that substantially exceed Avnet's Stock
Ownership Guidelines, which require that he hold Avnet stock in an
amount at least equal to five times his annual base salary.
The trading plan is designed in accordance with Rule 10b5-1 of the
Securities Exchange Act of 1934, which provides an affirmative defense
against insider trading liability by permitting executives to buy or
sell their company's securities pursuant to a trading program that was
adopted when the executive was not in possession of material, non-public
information.
About Avnet
Avnet, Inc. (NYSE:AVT), a Fortune 500 Company, is one of the largest
distributors of electronic components, computer products and embedded
technology serving customers in more than 70 countries worldwide. Avnet
accelerates its partners' success by connecting the world's leading
technology suppliers with a broad base of more than 100,000 customers
and providing cost-effective, value-added services and solutions. For
the fiscal year ended July 3, 2010, Avnet generated revenue of $19.16
billion. (AVT_IR)
Visit Avnet's Investor Relations Website at www.ir.avnet.com
or contact us at investorrelations@avnet.com.
Avnet, Inc.
Vincent Keenan
Investor Relations
480-643-7053
investorrelations@avnet.com
Source: Avnet, Inc.
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