Form 4: Seagate CCO Teh Ban Seng Converts RSUs

Seagate Technology Holdings plc's EVP & Chief Commercial Officer, Teh Ban Seng, converted Restricted Share Units into ordinary shares on December 9, 2025.

Summary

• Teh Ban Seng, Executive Vice President & Chief Commercial Officer of Seagate Technology Holdings plc, reported transactions involving the conversion of Restricted Share Units (RSUs) into ordinary shares.
• On December 9, 2025, Mr. Teh acquired 599 ordinary shares through the conversion of derivative securities (RSUs) at a price of $0.
• Following this transaction, Mr. Teh's direct beneficial ownership of ordinary shares increased to 12,640.
• On the same date, Mr. Teh also acquired an additional 663 ordinary shares through the conversion of derivative securities (RSUs) at a price of $0.
• After this second transaction, his direct beneficial ownership of ordinary shares further increased to 13,303.
• The converted RSUs were part of grants awarded under the Seagate Technology Holdings plc 2022 Equity Incentive Plan.
• One RSU grant (599 shares) vested one-quarter on September 9, 2023, with the remainder vesting in equal quarterly installments over the subsequent three years.
• Another RSU grant (663 shares) vested one-quarter on September 9, 2025, with the remainder vesting in equal quarterly installments over the subsequent three years.
• Following these conversions, Mr. Teh beneficially owns 1,798 Restricted Share Units from the first grant and 7,295 Restricted Share Units from the second grant.

Sentiment

Score: 6

Explanation: The filing reports a routine, pre-scheduled executive compensation event (RSU vesting and conversion). This is generally a neutral to slightly positive signal as it aligns executive interests with shareholders and reflects the execution of an existing compensation plan.

Positives

• The conversion of Restricted Share Units into ordinary shares indicates the vesting of executive compensation, aligning management's interests with shareholders.
• The increase in direct beneficial ownership of ordinary shares by a key executive demonstrates continued commitment to the company.

Future Outlook

The remaining portions of the RSU grants are scheduled to vest in equal quarterly installments over the next three years, indicating future conversions of derivative securities into ordinary shares for the reporting person.

Industry Context

This filing is a routine disclosure of an insider transaction, specifically the vesting and conversion of executive compensation. It does not provide broader industry trends or competitive insights.

Comparison to Industry Standards

• Not applicable as this filing reports a routine insider transaction related to executive compensation, not company performance or strategic initiatives that would be compared to industry benchmarks or specific comparable companies.

Corporate Governance

Stakeholder Impact

• Shareholders: The increase in executive share ownership can be viewed positively as it further aligns management's interests with shareholder value.
• Employees: The filing pertains to executive compensation and does not directly impact the broader employee base beyond the executive involved.

Next Steps

• Continued vesting of the remaining Restricted Share Units in equal quarterly installments over the next three years, as per the terms of the 2022 Equity Incentive Plan.

Key Dates

Keywords

Seagate, STX, Form 4, Insider Transaction, Restricted Share Units, Executive Compensation, Share Vesting, Corporate Governance