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Western Digital (WDC) director receives new Dividend Equivalent Rights grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

MASSENGILL MATTHEW E reported acquisition or exercise transactions in this Form 4 filing.

Western Digital director Matthew E. Massengill received a grant of 6.1088 Dividend Equivalent Rights tied to previously awarded restricted stock units. Each right represents a contingent right to receive one share of Western Digital common stock or the cash value of a share. Following this grant, Massengill holds 110.8459 Dividend Equivalent Rights in total, reflecting routine equity-based compensation rather than an open-market stock purchase or sale.

Positive

  • None.

Negative

  • None.
Insider MASSENGILL MATTHEW E
Role null
Type Security Shares Price Value
Grant/Award Dividend Equivalent Rights 6.109 $0.00 --
Holdings After Transaction: Dividend Equivalent Rights — 110.846 shares (Direct, null)
Footnotes (1)
  1. [object Object]
Dividend Equivalent Rights granted 6.1088 rights Grant on 2026-06-17
Total Dividend Equivalent Rights after grant 110.8459 rights Holdings following transaction
Underlying common stock per right 1 share per right Each right equals one WDC common share or cash value
Grant price per right $0.0000 Compensation grant, not an open-market purchase
Dividend Equivalent Rights financial
"The dividend equivalent rights accrued on previously awarded restricted stock units (RSUs)"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
restricted stock units (RSUs) financial
"accrued on previously awarded restricted stock units (RSUs) which vest proportionately"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
contingent right financial
"Each dividend equivalent right represents a contingent right to receive one share"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
Estimated average burden
hours per response:0.5
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*
MASSENGILL MATTHEW E
(Last)(First)(Middle)
C/O WESTERN DIGITAL CORPORATION
5601 GREAT OAKS PARKWAY
(Street)
SAN JOSE CALIFORNIA 95119
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
WESTERN DIGITAL CORP [ WDC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/17/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Dividend Equivalent Rights(1)06/17/2026A6.1088 (1) (1)Common Stock6.1088$0.0110.8459D
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: Matthew Massengill06/22/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Western Digital (WDC) director Matthew Massengill report in this Form 4?

He reported receiving 6.1088 Dividend Equivalent Rights. These are compensation-linked derivatives that mirror dividends on existing RSUs and may settle in Western Digital common stock or equivalent cash value.

How many Dividend Equivalent Rights does Matthew Massengill hold after this WDC transaction?

After the grant, he holds a total of 110.8459 Dividend Equivalent Rights. This reflects accumulated awards tied to previously granted restricted stock units that continue to vest over time.

Are the Western Digital Dividend Equivalent Rights an open-market stock purchase or sale?

No, the rights are a compensation-related grant, not an open-market trade. They accrue on existing restricted stock units and vest in step with those RSUs, with potential settlement in stock or cash.

What does each Dividend Equivalent Right for Western Digital represent?

Each right represents a contingent right to receive one share of Western Digital common stock or its cash value. The rights vest proportionately with the related restricted stock units over their vesting schedule.

Why did Matthew Massengill receive 6.1088 new Dividend Equivalent Rights from Western Digital?

The rights accrued on previously awarded restricted stock units. When Western Digital pays dividends, equivalent rights accumulate on those RSUs, aligning director compensation with shareholder dividend payments.