Western Digital CEO has 1,091 shares withheld for taxes
WESTERN DIGITAL CORP (WDC) reports that Chief Executive Officer and director Irving Tan had several equity-related transactions.
Rhea-AI Filing Summary
WESTERN DIGITAL CORP (WDC) reports that Chief Executive Officer and director Irving Tan had several equity-related transactions. On September 20, 2026, dividend equivalent rights corresponding to 56.7622 units were converted on a one-for-one basis into 56.7620 shares of common stock in connection with vesting of related restricted stock units, and a cash amount was paid to settle a fractional right.
Also on September 20, 2026, 1,091.0350 shares of common stock were withheld at $441.36 per share to pay tax obligations incident to vesting, in accordance with Rule 16b-3(e). On September 17, 2026, Tan received a grant of 83.2995 dividend equivalent rights that accrue on previously awarded restricted stock units. Indirectly, there are 112,500 shares of common stock held by a trust via an investment company and 209,000 shares held by a personal investment company. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
56.7622 shares exercised/converted
Exercise
6 txns
Insider
Tan Irving
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Dividend Equivalent Rights F1 | 56.7622 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 56.762 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F2 | 1,091.035 | $441.36 | $482K |
| Grant/Award | Dividend Equivalent Rights F3 | 83.2995 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Dividend Equivalent Rights — 800.4758 contracts (Direct);
Common Stock — 265,612.727 shares (Direct);
Common Stock — 112,500 shares (Indirect, By Trust via Inv Co);
Common Stock — 209,000 shares (Indirect, by Personal Inv. Co.)
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: 56.7622 rights
Common shares received from conversion: 56.7620 shares
Shares withheld for tax obligation: 1,091.0350 shares
+4 more
7 metrics
Dividend equivalent rights converted
56.7622 rights
Converted into common stock on September 20, 2026
Common shares received from conversion
56.7620 shares
Shares of Western Digital common stock issued upon RSU-related conversion
Shares withheld for tax obligation
1,091.0350 shares
Withheld on September 20, 2026 to pay tax obligations incident to vesting
Tax withholding price per share
$441.36 per share
Price applied to the 1,091.0350 shares withheld for tax payment
New dividend equivalent rights granted
83.2995 rights
Accrued on previously awarded RSUs on September 17, 2026
Indirect holdings via trust
112,500 shares
Common stock held indirectly by trust via investment company as of September 17, 2026
Indirect holdings via personal investment company
209,000 shares
Common stock held indirectly by personal investment company as of September 17, 2026
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 CEO Irving Tan report on this Form 4?
Irving Tan reported conversion of 56.7622 dividend equivalent rights into 56.7620 common shares, tax withholding of 1,091.0350 shares to cover vesting-related obligations, and a grant of 83.2995 new dividend equivalent rights accruing on previously awarded restricted stock units.
What happened to the dividend equivalent rights reported by WDC’s CEO?
On September 20, 2026, 56.7622 dividend equivalent rights were converted into and paid in the form of 56.7620 shares of common stock on a one-for-one basis upon RSU vesting, with a cash payment settling a fractional right. Separately, 83.2995 new dividend equivalent rights were granted on September 17, 2026.
What indirect holdings of WDC common stock does Irving Tan report?
Tan reports indirect ownership of 112,500 shares of Western Digital common stock held by a trust via an investment company, and 209,000 shares held by a personal investment company, as of September 17, 2026.
Was a Rule 10b5-1 trading plan involved in Irving Tan’s WDC transactions?
No. The filing’s Rule 10b5-1 checkbox is not marked, and there is no footnote stating that the transactions were made pursuant to a Rule 10b5-1 or pre-arranged trading plan.
Are the transactions by Irving Tan in WDC mainly buys or sells?
The reported activity is mixed: it includes an acquisition of shares through conversion of dividend equivalent rights, a grant of additional dividend equivalent rights, and a withholding of 1,091.0350 shares to pay tax obligations related to vesting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
