Dave Youngblood
AVNETAbout Dave Youngblood
Dave Youngblood is Senior Vice President and Chief Digital Officer at Avnet (AVT), appointed in October 2024, with more than 25 years of digital experience in the electronics industry; age 51 per the latest proxy . He previously led Digital Customer Experience at Analog Devices and held senior roles at Murata and Texas Instruments, positioning him to drive Avnet’s digital go‑to‑market and customer experience agenda . Company performance context for FY2025: sales declined 6.6% YoY to $22.20B, adjusted operating income fell 30.7% to $624.0M, and adjusted EPS declined 35.6% to $3.44, while net working capital days improved and ROWC fell; these metrics anchor incentive outcomes company‑wide . Avnet discloses that changes in compensation actually paid generally align with Company TSR over 2021–2025, with modest TSR improvement in 2025 vs. 2024, underscoring the pay-for-performance link in equity awards .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Analog Devices | Head of Digital Customer Experience | — | Led digital customer experience initiatives; directly relevant to Avnet’s digital transformation remit . |
| Murata | Senior/Prominent roles (not specified) | — | Deep components ecosystem expertise to inform digital channel and supplier/customer integrations . |
| Texas Instruments | Senior/Prominent roles (not specified) | — | Large‑scale semis digital and channel exposure; applicable to Avnet’s components distribution . |
External Roles
No public company board roles or external directorships are disclosed for Youngblood in the latest proxy; he is listed among executive officers, not directors .
Fixed Compensation
Youngblood is not listed among Named Executive Officers (NEOs), and individual base salary/bonus details for non‑NEO executives are not itemized in the proxy .
| Component | FY2025 Detail |
|---|---|
| Base Salary | Not disclosed (Youngblood is not an NEO) . |
| Target Bonus % | Not disclosed (Youngblood is not an NEO) . |
| Actual Bonus Paid | Not disclosed (Youngblood is not an NEO) . |
Performance Compensation
Note: The following tables show Avnet’s FY2025 incentive design and results used for NEOs; Youngblood’s individual payouts are not disclosed, but company‑wide mechanics and outcomes indicate incentive pressure points.
| Annual Incentive Metric | Weight | FY2025 Target | FY2025 Actual | Payout % of Target |
|---|---|---|---|---|
| Adjusted Operating Income (OI$) | 40% | $871.4M | $626.9M | 0% |
| Return on Working Capital (ROWC) | 40% | 13.47% | 10.04% | 0% |
| Relative Market Share | 20% | 50 bps | 376 bps | 200% |
| Financial subtotal | 80% | — | — | 32% (weighted) |
| Non‑financial (talent, leadership, engagement) | 20% | — | — | 200% (approved) |
| Total payout (for NEOs) | 100% | — | — | 72% of target |
| Long‑Term Incentive (FY2025 grants) | Weight | Metrics/Terms | Vesting |
|---|---|---|---|
| RSUs | 50% | Time‑based | 25% each on first business day in January 2025–2028 |
| PSUs | 50% | 50% ROIC > WACC; 50% Relative Adjusted EPS Growth; rTSR modifier ±10% | Earn by tranche for FY2025, FY2026, FY2027; all tranches vest end of FY2027 (July 3, 2027) |
| FY2025 PSU tranche performance | — | Company disclosed 0% earned for FY2025 tranche (and certain overlapping tranches) | 0% earned for applicable FY2025 tranche for NEOs |
Equity Ownership & Alignment
| As of | Beneficially Owned Shares | Options Exercisable Within 60 Days | Notes on Composition | Percent of Shares Outstanding |
|---|---|---|---|---|
| September 2, 2025 | 8,250 | 0 | Ownership includes 7,762 RSUs earned but not yet vested | Less than 1% |
- Shares outstanding: 83,243,137 as of September 2, 2025 (net of treasury) .
- Stock ownership guidelines: Other executive officers must hold Company stock equal to 1x base salary; counting owned shares, vested and unvested RSUs, vested PSUs, and option exercises; must retain 50% of net shares until guideline met; executive officers subject to the guidelines satisfied requirements as of June 28, 2025 .
- Anti‑hedging/anti‑pledging: Insider Trading Policy prohibits hedging and pledging without advance approval; no exceptions were approved in fiscal 2025 .
- Equity vesting cadence: FY2025 RSUs vest on the first business day of January each year 2025–2028; FY2025 PSU tranches (if earned) settle at July 3, 2027—timing can influence potential selling windows post‑vesting, subject to blackout policies .
Employment Terms
| Topic | Provision | Notes |
|---|---|---|
| Executive Severance Plan (general) | If terminated without cause: 1x base salary (2x for CEO), healthcare continuation during severance, and incentive payment based on year‑of‑termination factors . | Applies where an executive officer is not entitled to severance under an individual employment agreement . |
| Employment agreements (NEOs) | If terminated without cause: lump sum equal to base annual salary + target bonus for the year of termination . | Disclosure specific to NEOs; not stated for non‑NEO execs like Youngblood . |
| Change‑of‑Control (NEOs) | If actually or constructively terminated within 24 months post‑CoC: 2.99x (base salary + target annual incentive); accelerate and deliver unvested equity awards; no excise tax gross‑ups . | CoC agreements disclosed for NEOs; tax gross‑up not provided . |
| Clawback | Incentive‑based compensation recoupment required after restatements; may recover for misconduct; applies to stock‑ and cash‑based incentive pay, including measures tied to stock price and TSR . | Applies to current/former executive officers . |
| ESPP | 5% discount purchase plan for eligible employees after 3 months of service . | Broad‑based plan. |
Investment Implications
- Alignment and retention: Youngblood’s disclosed beneficial ownership is 8,250 shares, including 7,762 unvested RSUs, indicating alignment via unvested equity rather than sizable open‑market holdings; anti‑hedging/anti‑pledging and stock‑ownership guidelines further align incentives and limit downside risk transfer .
- Incentive pressure points: FY2025 annual incentive design overweighted financial metrics (80%); OI$ and ROWC underperformed to 0% payout on those components, offset by strong relative market share (200%), yielding 72% total payout for NEOs—this structure penalizes underperformance on profit/efficiency and rewards share gains, consistent with distribution‑cycle dynamics but reduces cash variability for underperformance periods .
- Long‑term equity signal: FY2025 PSU first‑year tranche earned 0% for NEOs; combined with RSUs that vest annually in early January, equity mix skews toward retention via time‑based RSUs while keeping PSUs performance‑sensitive—shortfalls on PSUs can elevate retention risk but enhance pay‑for‑performance credibility .
- Change‑of‑control economics: NEO CoC terms (2.99x multiple, accelerated vesting, no tax gross‑ups) are shareholder‑moderate and reduce management entrenchment costs while preserving retention in strategic scenarios; Youngblood’s specific CoC status is not disclosed .
- Governance quality: Robust clawback, prohibition on hedging/pledging (no exceptions), and ownership guidelines indicate strong governance scaffolding supportive of long‑term TSR alignment .
- Execution lens: Company FY2025 performance reflects cyclical compression in operating income and EPS, with notable market share gains; as CDO, Youngblood’s value creation lever is digital growth and CX efficiency to support margin recovery and working capital turns as the cycle normalizes .
References:
- 2025 DEF 14A (published Oct 7, 2025): executive officer bio and ownership ; incentive design/results and LTIP structure ; severance/CoC/clawback/ownership guidelines/ESPP ; company performance ; pay vs. performance/TSR alignment .
- 2024 DEF 14A (published Oct 8, 2024): hedging/pledging policy and ownership guideline compliance context .