Form 4: Western Digital Executive Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Gene M. Zamiska, SVP & Principal Accounting Officer at Western Digital, sold 376 shares of company stock on November 21, 2024, as part of a pre-arranged 10b5-1 trading plan.
Summary
- Gene M. Zamiska, a Senior Vice President and Principal Accounting Officer at Western Digital Corporation, reported transactions involving the company's common stock.
- On November 20, 2024, 261 shares were withheld to cover tax obligations related to vesting securities at a price of $63.84 per share.
- On November 21, 2024, 376 shares were sold at a price of $64.47 per share.
- These sales were executed under a Rule 10b5-1 trading plan adopted by Mr. Zamiska on December 1, 2023.
- Following these transactions, Mr. Zamiska beneficially owns 29,971 shares of Western Digital stock.
Sentiment
Score: 5
Explanation: The document is a routine SEC Form 4 filing for an executive stock sale under a pre-arranged plan. It does not indicate any positive or negative sentiment.
Risks
- Sales by company executives can sometimes be perceived negatively by the market, although these sales were pre-planned.
Industry Context
Executive stock transactions are a normal part of corporate activity, and the use of 10b5-1 plans is a common practice to avoid accusations of insider trading. This transaction is not unusual for a company of this size.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies, including competitors like Seagate Technology (STX) and Micron Technology (MU).
- These plans allow executives to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
- The volume of shares sold by Mr. Zamiska is relatively small compared to the overall trading volume of WDC stock, suggesting it is unlikely to have a significant impact on the share price.
Stakeholder Impact
- The stock sale by an executive may have a minor impact on shareholder sentiment, but the pre-planned nature of the sale should mitigate any negative reactions.
Key Dates
| Date | Description |
|---|---|
| 2023-12-01 | Date the Rule 10b5-1 trading plan was adopted by Gene Zamiska. |
| 2024-11-20 | Date 261 shares were withheld for tax obligations. |
| 2024-11-21 | Date 376 shares were sold under the 10b5-1 plan. |
| 2024-11-22 | Date the Form 4 was signed. |
Keywords
Western Digital, WDC, insider trading, stock sale, Rule 10b5-1, Gene Zamiska, executive compensation, share transaction
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