Form 4: Western Digital Executive Sells Shares to Cover Tax Obligations

Gene M. Zamiska, SVP & Principal Accounting Officer of Western Digital, sold 315 shares of common stock on May 29, 2024, to cover tax obligations related to vesting restricted stock units.

Summary

• On May 29, 2024, Gene M. Zamiska, the SVP & Principal Accounting Officer of Western Digital Corporation, sold 315 shares of common stock.
• The transaction was executed at a price of $75.39 per share.
• The sale was conducted to satisfy tax obligations related to the vesting of restricted stock units, under a pre-arranged Rule 10b5-1 trading plan adopted on December 1, 2023.
• Following the transaction, Zamiska directly owns 29,841 shares of Western Digital common stock.

Sentiment

Score: 5

Explanation: Neutral sentiment as the document simply reports a routine stock sale for tax purposes under a pre-existing trading plan.

Industry Context

Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The use of a 10b5-1 trading plan indicates that the sales were pre-planned and not based on insider information.

Comparison to Industry Standards

• Executive stock sales for tax purposes are a common practice across the technology industry.
• Companies like Seagate and Micron also see similar transactions by their executives.
• The use of Rule 10b5-1 trading plans is a standard method to ensure compliance with insider trading regulations, aligning with practices at companies like Intel and Samsung.

Stakeholder Impact

• The sale is unlikely to have a significant impact on shareholders, as it is a small percentage of the executive's holdings and was conducted under a pre-arranged trading plan.

Key Dates