WDC Director Adds 9.2245 Dividend-Equivalent Shares – Routine Form 4

Western Digital Corp. (WDC) – Form 4 filing dated 06/23/2025 Director Tunc Doluca reported the automatic acquisition of 9.2245 dividend-equivalent rights on 06/18/2025.

Rhea-AI Filing Summary

Western Digital Corp. (WDC) – Form 4 filing dated 06/23/2025

Director Tunc Doluca reported the automatic acquisition of 9.2245 dividend-equivalent rights on 06/18/2025. The rights relate to previously granted restricted stock units (RSUs) and vest in proportion to the underlying RSUs. Each right converts into one share of common stock (or cash equivalent) at no additional cost. Post-transaction, Doluca beneficially owns 9.2245 derivative securities, held directly. No common shares were sold or disposed of, and no open-market activity occurred.

The filing is routine, reflects normal accrual of dividend equivalents under the company’s equity plan, and does not signal any change in ownership intentions or corporate strategy.

Positive

• Director alignment: Additional equity (though minimal) marginally increases insider exposure to shareholder value.

Negative

• Immaterial size: Only 9.2245 rights; unlikely to influence share count, insider ownership percentage, or investor perception.

Insights

Corporate Governance Expert

TL;DR: Routine Form 4; tiny dividend-equivalent grant, neutral impact.

The transaction is an administrative credit of 9.2245 dividend-equivalent rights linked to existing RSUs. Because it is automatic and represents less than one tenth of one percent of outstanding shares, it is financially immaterial. There is no cash outlay and no market purchase or sale, so price-signal value is negligible. Investors should view the filing as housekeeping rather than an indicator of insider sentiment or operational outlook.

Insider Trade Summary

Grant/Award: 9.2245 shares

Grant/Award 1 txn

Insider DOLUCA TUNC

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Dividend Equivalent Rights	9.2245	$0.00	$0.00

Holdings After Transaction: Dividend Equivalent Rights — 9.2245 contracts (Direct)

Footnotes (1)

1. F1. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Western Digital (WDC) disclose in the latest Form 4?

Director Tunc Doluca automatically acquired 9.2245 dividend-equivalent rights tied to his existing RSUs on 06/18/2025.

Did the insider buy or sell common stock of WDC?

No open-market purchase or sale occurred; the filing records an automatic A (acquired) credit of dividend equivalents.

How many derivative securities does the director now hold?

After the transaction, Doluca beneficially owns 9.2245 dividend-equivalent rights directly.

What are dividend-equivalent rights in this context?

Each right mirrors dividends on RSUs and will convert into one share of common stock or its cash value when the underlying RSUs vest.

Is the Form 4 significant for Western Digital investors?

The transaction is routine and financially immaterial; it does not meaningfully affect the company’s share count or outlook.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/23/2025 - 06:11 PM Learn about SEC filing dates

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)
06/18/2025

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)	06/18/2025		A		9.2245		(1)	(1)	Common Stock	9.2245	$0.0	9.2245	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	06/23/2025
	** 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.