Western Digital (WDC) CLO trades shares under 10b5-1 plan, retains 117K
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Western Digital’s Chief Legal Officer and Corporate Secretary, Cynthia L. Tregillis, reported recent equity transactions in the company’s common stock. She sold a total of 522 shares in open-market transactions at prices of $488.61 and $539.63 per share, under a pre-arranged Rule 10b5-1 trading plan adopted on May 23, 2025. She also had 771 shares withheld to cover tax obligations related to vesting equity awards. In connection with vesting, she exercised dividend equivalent rights into 7.3619 derivative rights and 7 common shares. After these transactions, she directly holds 117,157 shares of Western Digital common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 522 shares ($265,973)
Net Sell
5 txns
Insider
Tregillis Cynthia L
Role
Chief Legal Officer & Corp Sec
Sold
522 shs ($266K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 214 | $539.63 | $115K |
| Exercise | Dividend Equivalent Rights | 7.362 | $0.00 | -- |
| Exercise | Common Stock | 7 | $0.00 | -- |
| Tax Withholding | Common Stock | 771 | $484.28 | $373K |
| Sale | Common Stock | 308 | $488.61 | $150K |
Holdings After Transaction:
Common Stock — 117,157 shares (Direct, null);
Dividend Equivalent Rights — 311.047 shares (Direct, null)
Footnotes (1)
- The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 23, 2025. The dividend equivalent rights were converted into, and paid in the form of, shares of the Issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units to which the dividend equivalent rights relate. A cash amount was also paid to the holder to settle a fractional dividend equivalent right. Payment of tax obligation by withholding securities incident to the vesting of securities in accordance with Rule 16b-3(e).
Key Figures
Shares sold: 522 shares
Sale price (first trade): $488.61 per share
Sale price (second trade): $539.63 per share
+4 more
7 metrics
Shares sold
522 shares
Open-market sales of common stock
Sale price (first trade)
$488.61 per share
Common stock sale on May 22, 2026
Sale price (second trade)
$539.63 per share
Common stock sale on May 27, 2026
Shares withheld for taxes
771 shares
Tax-withholding disposition on vesting
Dividend equivalent rights exercised
7.3619 rights
Converted into common stock on vesting
Shares from derivative exercise
7 shares
Non-derivative common stock from M-code exercise
Post-transaction holdings
117,157 shares
Directly owned common stock after all transactions
Key Terms
Rule 10b5-1 trading plan, dividend equivalent rights, restricted stock units, Rule 16b-3(e), +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 23, 2025."
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.
dividend equivalent rights financial
"The dividend equivalent rights were converted into, and paid in the form of, shares of the Issuer's common stock on a one-for-one basis in connection with the vesting of restricted stock units..."
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 financial
"…in connection with the vesting of restricted stock units to which the dividend equivalent rights relate."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Rule 16b-3(e) regulatory
"Payment of tax obligation by withholding securities incident to the vesting of securities in accordance with Rule 16b-3(e)."
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What insider transactions did Western Digital (WDC) report for Cynthia Tregillis?
Cynthia L. Tregillis reported selling 522 Western Digital common shares in open-market transactions, plus 771 shares withheld for taxes and small exercises of dividend equivalent rights tied to vested equity awards, leaving her with 117,157 directly held shares.
What are dividend equivalent rights mentioned in the Western Digital Form 4?
Dividend equivalent rights credited to Cynthia Tregillis were converted into 7.3619 derivative rights and paid in common stock on a one-for-one basis as related restricted stock units vested, with a small cash amount used to settle a fractional right.