Form 4: Western Digital Executive Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
A Western Digital executive, Gene M. Zamiska, sold 658 shares of common stock at $69.99 per share, following a tax obligation payment by withholding securities.
Summary
- Gene M. Zamiska, a Senior Vice President and Principal Accounting Officer at Western Digital, engaged in transactions involving the company's common stock.
- On November 25, 2024, 450 shares were withheld to cover a tax obligation related to vesting securities at a price of $69.425 per share.
- On November 26, 2024, Mr. Zamiska sold 658 shares at $69.99 per share.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 1, 2023.
- Following these transactions, Mr. Zamiska directly owns 28,863 shares of Western Digital common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction by an executive under a pre-arranged trading plan. It is neither positive nor negative for the company's outlook.
Industry Context
Executive stock transactions are a normal part of corporate activity, and the use of a 10b5-1 trading plan 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
- Many executives at publicly traded companies use 10b5-1 trading plans to manage their stock sales, including executives at comparable companies like Seagate Technology and Micron Technology.
- The volume of shares sold is relatively small compared to the total outstanding shares of Western Digital, and is not unusual for an executive's planned transactions.
- The price at which the shares were sold is consistent with the market price at the time of the transaction.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small sale by an executive.
- The sale does not indicate any change in the company's performance or outlook.
Key Dates
| Date | Description |
|---|---|
| 2023-12-01 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 2024-11-25 | Date of tax obligation payment by withholding 450 shares. |
| 2024-11-26 | Date of sale of 658 shares. |
Keywords
Western Digital, WDC, insider trading, stock sale, Rule 10b5-1, executive, share transaction, equity securities
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