Western Digital (WDC) to exchange 1.04M Sandisk shares for its own stock
Rhea-AI Filing Summary
Western Digital Corporation entered into privately negotiated exchange agreements with certain institutional investors. The company agreed to exchange 1,038,681 shares of Sandisk Corporation common stock it holds for shares of Western Digital common stock held by those investors.
The number of Western Digital shares to be exchanged will be based on the volume-weighted average prices of Sandisk stock and Western Digital common stock over a three-day measurement period on June 16-18, 2026. The exchange transactions are expected to close on June 22, 2026, subject to customary closing conditions.
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8-K Event Classification
Key Figures
Key Terms
privately negotiated exchange agreements financial
volume-weighted average prices financial
customary closing conditions financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On June 11, 2026, Western Digital Corporation (the “Company”) entered into separate, privately negotiated exchange agreements (the “Exchange Agreements”) with certain institutional investors, pursuant to which the Company agreed to exchange an aggregate of 1,038,681 shares of common stock of Sandisk Corporation (the “Sandisk Stock”) held by it for a number of shares of the Company’s common stock held by such investors (the “Exchange WDC Shares,” and such transactions, the “Exchange Transactions”). The number of Exchange WDC Shares will be determined by the volume-weighted average prices of Sandisk Stock and the Company’s common stock over a three-day measurement period on June 16-18, 2026. These Exchange Transactions are expected to close on June 22, 2026, subject to satisfaction of customary closing conditions.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WESTERN DIGITAL CORPORATION | ||||||
| (Registrant) | ||||||
| Date: June 11, 2026 | ||||||
| By: | /s/ Cynthia Tregillis | |||||
| Name: | Cynthia Tregillis | |||||
| Title: | Executive Vice President, Chief Legal Officer and Secretary | |||||