[Form 4] WESTERN DIGITAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Stephanie A. Streeter, a director of Western Digital Corporation (WDC), reported the acquisition of 6.0673 dividend equivalent rights on 09/18/2025. The filing states these dividend equivalent rights accrued on previously awarded restricted stock units (RSUs) and vest proportionately with those RSUs; each right represents a contingent entitlement to one share of common stock or its cash value.

After the reported transaction the filing shows 16.8276 shares beneficially owned following the transaction and indicates the transaction was reported on Form 4 and signed on behalf of the reporting person by an attorney-in-fact on 09/22/2025. No prices were reported for the dividend equivalent rights.

Positive

• Director received dividend equivalent rights on previously awarded RSUs, reinforcing alignment of executive/director compensation with shareholder value
• Transaction is routine and non-cash, indicating no immediate dilution or sale pressure from the reporting person

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine compensation-related accrual for a director; no change to control or immediate dilution.

The Form 4 documents an accrual of dividend equivalent rights tied to previously granted RSUs for a board director. This is a standard element of equity compensation plans where dividend equivalents accrue and vest with underlying RSUs. The filing lists 6.0673 dividend equivalent rights acquired on 09/18/2025 and a post-transaction beneficial ownership of 16.8276 shares. There is no indication of cashless exercises, stock sales, or other transactions that would immediately affect share count or corporate control.

Securities Analyst

TL;DR: Small, non-cash equity accrual reported; limited immediate market impact.

The entry records the accrual of 6.0673 dividend equivalent rights related to RSUs, showing these rights carry contingent entitlement to common stock or cash value and that the reported amount has $0.0 listed as price. The transaction is compensation-related and routine for insiders; the scale of the accrual (single-digit shares) implies immaterial impact on WDC share count or valuations in the short term.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

STREETER STEPHANIE A

(Last) (First) (Middle)

C/O WESTERN DIGITAL CORPORATION

5601 GREAT OAKS PARKWAY

(Street)

SAN JOSE CA 95119

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WESTERN DIGITAL CORP [ WDC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Dividend Equivalent Rights	(1)	09/18/2025		A		6.0673		(1)	(1)	Common Stock	6.0673	$0.0	16.8276	D

Explanation of Responses:

1. The dividend equivalent rights accrued on previously awarded restricted stock units (RSUs) which vest proportionately with the RSUs to which they relate. Each dividend equivalent right represents a contingent right to receive one share of the Issuer's common stock or the cash value thereof.

	By: /s/ Sandra Garcia Attorney-in-Fact For: Stephanie A. Streeter	09/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Stephanie A. Streeter report on Form 4 for WDC?

She reported acquiring 6.0673 dividend equivalent rights related to previously awarded RSUs on 09/18/2025.

What do the dividend equivalent rights represent in this Form 4?

Each dividend equivalent right represents a contingent right to receive one share of Western Digital common stock or the cash value thereof, and they vest proportionately with the underlying RSUs.

How many shares does the filing show as beneficially owned after the transaction?

16.8276 shares are reported as beneficially owned following the reported transaction.

Was there a purchase price reported for the dividend equivalent rights?

No price was paid; the filing shows $0.0 under price for the dividend equivalent rights.

Who signed the Form 4 on behalf of the reporting person and when?

Sandra Garcia, Attorney-in-Fact, signed the Form 4 on behalf of Stephanie A. Streeter on 09/22/2025.