AVNET INC
Shareholder Proposals
Item 5
G
Allow shareholders holding 10% of outstanding common stock to call a special shareholder meeting.
The proposal requests that Avnet amend its governing documents to permit holders of a combined 10% of outstanding common stock to call a special shareholder meeting, and specifies that no minimum ownership duration or "poison pill"-style disqualification should apply. It also requests that the special meeting be permitted to be convened online for ease of use. The stated rationale is to provide shareholders a tool to prompt the Board to adopt new strategies if the company underperforms and to create an accountability mechanism that incentivizes directors and management. The proponent cites precedent among other companies that adopted similar thresholds and argues a higher threshold would be unreasonable.