Form 4: Western Digital Executive Sells Shares to Cover Tax Obligations and Under Pre-Arranged Trading Plan

Gene M. Zamiska, SVP & Principal Accounting Officer at Western Digital, sold shares to cover tax obligations and under a pre-arranged trading plan.

Summary

• Gene M. Zamiska, a Senior Vice President and Principal Accounting Officer at Western Digital, engaged in two transactions involving the company's common stock.
• On November 27, 2024, 167 shares were disposed of to cover tax obligations related to vesting securities at a price of $71.50 per share.
• On November 29, 2024, 313 shares were sold at a price of $72.63 per share under a pre-arranged Rule 10b5-1 trading plan adopted on December 1, 2023.
• Following these transactions, Mr. Zamiska beneficially owns 28,383 shares of Western Digital common stock.

Sentiment

Score: 5

Explanation: The document reflects routine transactions by an executive, with no indication of positive or negative sentiment. The sales are part of a pre-arranged plan and tax obligations.

Industry Context

Executive stock transactions are a normal part of corporate activity and are often pre-planned to avoid any appearance of insider trading. The use of a 10b5-1 trading plan is a common practice for executives to manage their stock holdings.

Comparison to Industry Standards

• The use of Rule 10b5-1 trading plans is a standard practice among executives at publicly traded companies, including those in the technology sector like Western Digital.
• Companies such as Seagate Technology and Micron Technology also see similar filings from their executives.
• These plans allow executives to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.

Stakeholder Impact

• The transactions are unlikely to have a significant impact on shareholders as they are routine and pre-planned.

Key Dates

Keywords

Western Digital, WDC, insider trading, stock sale, Rule 10b5-1, executive, tax obligations, share disposal