Seagate Technology (STX) EVP exercises 6,002 options and sells 7,361 shares
Rhea-AI Filing Summary
Seagate Technology Holdings plc executive Teh Ban Seng, EVP & Chief Commercial Officer, reported option exercises and share sales on August 13, 2026. He exercised non-qualified options for 6,002 Ordinary Shares at strike prices of $68.83, $64.31, and $101.34, acquiring an equivalent number of shares. He then sold 7,361 Ordinary Shares in open-market or private transactions at weighted average prices of $920.14 and $923.7291, with one sale executed in multiple trades between $923.43 and $923.77. The options exercised were granted under the company’s equity incentive plans with four-year vesting schedules and monthly vesting after initial one-quarter vesting dates.
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Insights
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Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
8 txns
Insider
Teh Ban Seng
Role
EVP & Chief Commercial Officer
Sold
7,361 shs ($6.78M)
Approx. gross sale proceeds
$6.78M
Approx. exercise cost
$459K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | NQ Options F2 | 1,597 | $0.00 | $0.00 |
| Exercise | NQ Options F3 | 2,636 | $0.00 | $0.00 |
| Exercise | NQ Options F4 | 1,769 | $0.00 | $0.00 |
| Exercise | Ordinary Shares | 1,597 | $68.83 | $110K |
| Exercise | Ordinary Shares | 2,636 | $64.31 | $170K |
| Exercise | Ordinary Shares | 1,769 | $101.34 | $179K |
| Sale | Ordinary Shares | 6,002 | $920.14 | $5.52M |
| Sale | Ordinary Shares F1 | 1,359 | $923.7291 | $1.26M |
Holdings After Transaction:
NQ Options — 26,697 shares (Direct);
Ordinary Shares — 2,931 shares (Direct)
Footnotes (4)
- F1. These Ordinary Shares were sold in multiple trades at prices ranging from $923.43 to $923.77. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.
- F2. Options granted to the Reporting Person under the Seagate Technology plc 2022 Equity Incentive Plan (the "2022 Plan") are subject to a four-year vesting schedule. One-quarter of the options vested on September 9, 2023 and the remaining options vest in equal monthly installments over the 36 months following September 9, 2023.
- F3. Options granted to the Reporting Person under the Plan are subject to a four-year vesting schedule. One-quarter of the options vested on September 11, 2024 and the remaining options vest in equal monthly installments over the 36 months following September 11, 2024.
- F4. Options granted to the Reporting Person under the Plan are subject to a four-year vesting schedule. One-quarter of the options vested on September 9, 2025 and the remaining options vest in equal monthly installments over the 36 months following September 9, 2025.
Key Figures
Options Exercised: 6,002 Ordinary Shares
Shares Sold: 7,361 Ordinary Shares
Strike Price 1: $68.83 per share
+4 more
7 metrics
Options Exercised
6,002 Ordinary Shares
Total underlying shares from three NQ option exercises on August 13, 2026
Shares Sold
7,361 Ordinary Shares
Total shares sold in two sale transactions on August 13, 2026
Strike Price 1
$68.83 per share
Exercise price for 1,597-option tranche expiring September 9, 2029
Strike Price 2
$64.31 per share
Exercise price for 2,636-option tranche expiring September 11, 2030
Strike Price 3
$101.34 per share
Exercise price for 1,769-option tranche expiring September 9, 2031
Sale Price 1
$920.14 per share
Reported sale price for 6,002 Ordinary Shares
Weighted Avg Sale Price 2
$923.7291 per share
Weighted average sale price for 1,359 shares, trades from $923.43–$923.77
Key Terms
non-qualified stock options, Ordinary Shares, Equity Incentive Plan, four-year vesting schedule, +1 more
5 terms
non-qualified stock options financial
"He exercised non-qualified options for 6,002 Ordinary Shares at strike prices..."
Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.
Equity Incentive Plan financial
"Options granted to the Reporting Person under the Seagate Technology plc 2022 Equity Incentive Plan..."
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
four-year vesting schedule financial
"Options ... are subject to a four-year vesting schedule. One-quarter of the options vested..."
weighted average sale price financial
"The price reported above reflects the weighted average sale price."
FAQ
What did Seagate (STX) EVP Teh Ban Seng report in this Form 4?
Teh Ban Seng reported exercising non-qualified stock options for 6,002 Ordinary Shares and selling 7,361 Ordinary Shares on August 13, 2026, in open-market or private transactions.
How many Seagate (STX) options did Teh Ban Seng exercise and at what prices?
He exercised options covering 6,002 Ordinary Shares at strike prices of $68.83, $64.31, and $101.34, all granted under Seagate’s equity incentive plans with four-year vesting schedules.
Were Teh Ban Seng’s Seagate (STX) option grants subject to vesting?
Yes. The options were granted under Seagate’s 2022 Equity Incentive Plan and related plans, with four-year vesting schedules: one-quarter vesting on specified dates, then monthly vesting over the following 36 months.
Does this Seagate (STX) Form 4 indicate trades under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as a plan trade, and the footnotes describe vesting terms and weighted average pricing, but do not state that these transactions were under a 10b5-1 plan.
What type of securities did Teh Ban Seng hold and transact in for Seagate (STX)?
He exercised non-qualified stock options (NQ Options) into Ordinary Shares and then sold some of those Ordinary Shares in open-market or private transactions, as reported in the Form 4.
AI-generated analysis. How Rhea-AI works. Not financial advice.
