[Form 4] WESTERN DIGITAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Tunc Doluca, a director of Western Digital Corporation (WDC), reported a transaction dated 09/18/2025 on a Form 4. The filing shows the acquisition of 5.2013 dividend equivalent rights that relate to previously awarded restricted stock units (RSUs) and that vest proportionately with those RSUs. The filing states each dividend equivalent right represents a contingent right to receive one share of common stock or its cash value. After the reported transaction the filing lists 14.4258 shares (or share-equivalents) reported as beneficially owned in the line item. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Doluca on 09/22/2025.

Positive

• Transparent disclosure of dividend equivalent rights tied to RSUs for a company director
• Compensation alignment indicated by dividend equivalents that vest proportionately with RSUs

Negative

• None.

Insights

Financial Analyst

TL;DR: Small, routine accrual of dividend equivalent rights on RSUs; no clear material impact on WDC equity.

The Form 4 documents an accrual-based acquisition of 5.2013 dividend equivalent rights tied to previously granted RSUs for a company director. These rights vest in line with the underlying RSUs and convert to shares or cash, indicating compensation-related stock economics rather than an open-market purchase or sale. The reported post-transaction beneficial ownership total shown is 14.4258 share-equivalents. There is no pricing information or large share transfer disclosed, and the filing contains no evidence of a change in control, sizable cash transaction, or other event likely to move valuation metrics.

Corporate Governance Expert

TL;DR: Routine disclosure of RSU-related dividend equivalents for a director; consistent with standard executive compensation reporting.

The disclosure explains these are dividend equivalent rights that accrue on awarded RSUs and vest proportionately, a common element of equity compensation plans that aligns director pay with shareholder returns. The filing is signed by an attorney-in-fact, which is standard practice for administrative reporting. No departures from typical governance disclosure conventions are evident, and the filing does not indicate any unusual arrangements or related-party transfers.

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^*

DOLUCA TUNC

(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		5.2013		(1)	(1)	Common Stock	5.2013	$0.0	14.4258	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: Tunc Doluca	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 transaction did WDC director Tunc Doluca report on Form 4?

The Form 4 reports the acquisition of 5.2013 dividend equivalent rights related to previously awarded RSUs on 09/18/2025.

What are the dividend equivalent rights described in the Form 4?

The filing states each dividend equivalent right is a contingent right to receive one share of common stock or its cash value and vests proportionately with the underlying RSUs.

How many share-equivalents were reported as beneficially owned after the transaction?

The Form 4 lists 14.4258 shares (or share-equivalents) as the amount beneficially owned following the reported transaction.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by /s/ Sandra Garcia as Attorney-in-Fact for Tunc Doluca on 09/22/2025.

Does the Form 4 show a cash purchase or sale of WDC stock?

No. The filing describes accrued dividend equivalent rights related to RSUs; it does not show an open-market cash purchase or sale price.