WDC Form 4: Director Oulman reports stock and RSU transactions

Rhea-AI Filing Summary

Western Digital Corporation (WDC) director equity update. Director Roxanne M. Oulman reported equity transactions in Western Digital common stock and related awards. On 11/19/2025, 10 shares of common stock were acquired at a price of $0.0 through the conversion of dividend equivalent rights, bringing her directly held beneficial ownership to 4,078 shares.

On 11/20/2025, she received a grant of 1,585 restricted stock units, each representing a contingent right to one share of Western Digital common stock. After this grant, her directly held beneficial ownership increased to 5,663 shares. A small fractional dividend equivalent right was settled in cash, while the rest were paid in shares on a one-for-one basis when related restricted stock units vested.

Insider Trade Summary

10.748 shares exercised/converted

Mixed 3 txns

Insider Oulman Roxanne

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,585	$0.00	--
Exercise	Dividend Equivalent Rights	10.748	$0.00	--
Exercise	Common Stock	10	$0.00	--

Holdings After Transaction: Common Stock — 5,663 shares (Direct); Dividend Equivalent Rights — 0 shares (Direct)

Footnotes (1)

1. 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. Represents the grant of restricted stock units to the Reporting Person. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

Form 4 Insider Transactions: What Each Field Means →

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
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^*

Oulman Roxanne

(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)
11/19/2025

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
Common Stock	11/19/2025		M		10(1)	A	$0.0	4,078	D
Common Stock(2)	11/20/2025		A		1,585	A	$0.0	5,663	D

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)	11/19/2025		M			10.7481	(1)	(1)	Common Stock	10.7481	$0.0	0	D

Explanation of Responses:

1. 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.

2. Represents the grant of restricted stock units to the Reporting Person. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

	By: /s/ Sandra Garcia Attorney-in-Fact For: Roxanne M. Oulman	11/21/2025
	** 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 insider transaction did WDC director Roxanne Oulman report?

Director Roxanne M. Oulman reported acquiring Western Digital common stock via dividend equivalent rights on 11/19/2025 and receiving a grant of restricted stock units on 11/20/2025.

How many Western Digital shares did the director hold after these Form 4 transactions?

After the reported transactions, Roxanne M. Oulman directly and beneficially owned 5,663 shares of Western Digital common stock.

What was the size of the restricted stock unit grant reported by WDC?

The reporting person received a grant of 1,585 restricted stock units, with each unit representing a contingent right to receive one share of Western Digital common stock.

How were the dividend equivalent rights handled for the WDC director?

Dividend equivalent rights were converted into and paid in the form of shares of Western Digital common stock on a one-for-one basis, with a cash payment to settle a fractional right.

What does the transaction code M mean in this WDC Form 4?

Transaction code M indicates the exercise or conversion of a derivative security. In this case, dividend equivalent rights were converted into Western Digital common stock.

Were the derivative securities still held after the reported WDC transactions?

Following the conversion of 10.7481 dividend equivalent rights into common stock on 11/19/2025, the number of such derivative securities beneficially owned was reported as 0.