Western Digital officer reports 963-share tax withholding
WESTERN DIGITAL CORP (WDC) reported that Chief Sales & Mrktng Officer Brian Scott Davis had dividend equivalent rights convert into 8.3860 shares of common stock on September 20, 2026, in connection with vesting restricted stock units.
Rhea-AI Filing Summary
WESTERN DIGITAL CORP (WDC) reported that Chief Sales & Mrktng Officer Brian Scott Davis had dividend equivalent rights convert into 8.3860 shares of common stock on September 20, 2026, in connection with vesting restricted stock units. In a related step, 963.034 shares of common stock were withheld that day to pay tax obligations on the vesting. On September 17, 2026, he also received a grant of 16.8107 dividend equivalent rights that accrue on previously awarded restricted stock units. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
8.3863 shares exercised/converted
Exercise
4 txns
Insider
Davis Brian Scott
Role
Chief Sales & Mrktng Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Dividend Equivalent Rights F1 | 8.3863 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 8.386 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 963.034 | $441.36 | $425K |
| Grant/Award | Dividend Equivalent Rights F3 | 16.8107 | $0.00 | $0.00 |
Holdings After Transaction:
Dividend Equivalent Rights — 165.6831 contracts (Direct);
Common Stock — 99,491.352 shares (Direct)
Footnotes (3)
- F1. 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.
- F2. Payment of tax obligation by withholding securities incident to the vesting of securities in accordance with Rule 16b-3(e).
- F3. 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.
Key Figures
Dividend equivalent rights converted: 8.3863 rights
Common shares received from conversion: 8.3860 shares
Shares withheld for tax: 963.034 shares
+2 more
5 metrics
Dividend equivalent rights converted
8.3863 rights
Converted into common stock on September 20, 2026, on a one-for-one basis
Common shares received from conversion
8.3860 shares
Common stock issued September 20, 2026, from dividend equivalent rights vesting
Shares withheld for tax
963.034 shares
Withheld September 20, 2026, to pay tax obligations on vesting securities
Per-share value for tax withholding
$441.36 per share
Value applied to 963.034 withheld shares reported as payment of tax obligation
New dividend equivalent rights granted
16.8107 rights
Granted on September 17, 2026, accruing on previously awarded RSUs
Key Terms
Dividend Equivalent Rights, restricted stock units, Rule 16b-3(e), contingent right
4 terms
Dividend Equivalent Rights financial
"The dividend equivalent rights were converted into, and paid in the form of, shares"
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"
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)"
contingent right financial
"Each dividend equivalent right represents a contingent right to receive one share"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity transactions did WDC’s Chief Sales & Mrktng Officer report on this Form 4?
He reported conversion of dividend equivalent rights into common stock, a new grant of dividend equivalent rights, and withholding of shares to satisfy tax obligations, all occurring in connection with vesting restricted stock units.
What new dividend equivalent rights were granted to the WDC officer?
On September 17, 2026, he received a grant of 16.8107 dividend equivalent rights. These accrued on previously awarded restricted stock units and vest proportionately with the restricted stock units to which they relate.
Were the WDC insider’s transactions made under a Rule 10b5-1 trading plan?
No. The filing indicates no Rule 10b5-1 plan; the document-level checkbox for trades under such a plan is not selected.
What does each dividend equivalent right for WDC represent?
Each dividend equivalent right represents a contingent right to receive one share of Western Digital common stock or the cash value thereof, and they accrue on previously awarded restricted stock units that vest proportionately with those units.
AI-generated analysis. How Rhea-AI works. Not financial advice.
