Seagate Technology (NASDAQ: STX) EVP sells 989 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Seagate Technology Holdings plc EVP & Chief Commercial Officer Teh Ban Seng exercised and sold shares in a routine, pre-planned transaction. On June 11, 2026, he exercised 989 Restricted Share Units into the same number of Ordinary Shares at $0.00 per share. On June 12, 2026, he executed an open-market sale of 989 Ordinary Shares at an average price of $880.19 per share under a Rule 10b5-1 trading plan adopted on February 11, 2026. After the sale, he directly owned 4,290 Ordinary Shares and held 4,945 Restricted Share Units from the referenced grant, which continues to vest over a four-year period, subject to continued employment.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 989 shares ($870,508)
Net Sell
3 txns
Insider
Teh Ban Seng
Role
EVP & Chief Commercial Officer
Sold
989 shs ($871K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 989 | $880.19 | $871K |
| Exercise | Restricted Share Unit | 989 | $0.00 | -- |
| Exercise | Ordinary Shares | 989 | $0.00 | -- |
Holdings After Transaction:
Ordinary Shares — 4,290 shares (Direct, null);
Restricted Share Unit — 4,945 shares (Direct, null)
Footnotes (1)
- These Ordinary Shares were sold under a Rule 10b5-1 trading plan adopted by the Reporting Person on February 11, 2026. Consists of a grant of restricted share unit awarded to the reporting person under the Seagate Technology Holdings plc 2022 Equity Incentive Plan. Subject to the Reporting Person's continuous employment, one-quarter vested starting on September 11, 2024 and then in equal quarterly installments over the following three years for a total vesting period of four years.
Key Figures
Shares sold: 989 shares
Sale price: $880.19 per share
Shares exercised: 989 shares
+4 more
7 metrics
Shares sold
989 shares
Ordinary Shares sold in open-market transaction on June 12, 2026
Sale price
$880.19 per share
Average price for 989 Ordinary Shares sold June 12, 2026
Shares exercised
989 shares
Restricted Share Units converted to Ordinary Shares on June 11, 2026
Shares held after sale
4,290 shares
Total Ordinary Shares directly owned following June 12, 2026 sale
RSUs remaining
4,945 units
Restricted Share Units remaining after June 11, 2026 exercise
10b5-1 plan adoption date
February 11, 2026
Date Rule 10b5-1 trading plan for the sale was adopted
Vesting start date
September 11, 2024
Start of quarterly vesting schedule for RSU grant over four years
Key Terms
Rule 10b5-1 trading plan, Restricted Share Unit, 2022 Equity Incentive Plan, open-market sale, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"These Ordinary Shares were sold under a Rule 10b5-1 trading plan adopted by the Reporting Person on February 11, 2026."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
2022 Equity Incentive Plan financial
"Restricted share unit awarded to the reporting person under the Seagate Technology Holdings plc 2022 Equity Incentive Plan."
open-market sale financial
"Transaction action classified as open-market sale of 989 Ordinary Shares at $880.19 per share."
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
derivative exercise/conversion financial
"Transaction code M described as exercise or conversion of derivative security for 989 Restricted Share Units."
FAQ
What insider transactions did Seagate (STX) executive Teh Ban Seng report?
Teh Ban Seng reported exercising 989 Restricted Share Units into 989 Ordinary Shares, then selling 989 Ordinary Shares in an open-market transaction at $880.19 per share. These moves were disclosed as part of his routine equity compensation activity.
Was the Seagate (STX) insider sale made under a Rule 10b5-1 plan?
Yes, the 989 Ordinary Shares were sold under a Rule 10b5-1 trading plan adopted on February 11, 2026. Such plans pre-schedule trades, making the timing more mechanical and less indicative of short-term views.
What equity award did the Seagate (STX) executive exercise in this Form 4?
He exercised 989 Restricted Share Units granted under the Seagate Technology Holdings plc 2022 Equity Incentive Plan. The award vests over four years, beginning on September 11, 2024, in equal quarterly installments subject to continued employment.