[Form 4] WESTERN DIGITAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Bruce E. Kiddoo, a director of Western Digital Corporation (WDC), is reporting a change in beneficial ownership dated 09/18/2025. The Form 4 shows the acquisition of 3.8753 dividend equivalent rights tied to previously awarded restricted stock units; these rights vest proportionately with the RSUs and each represents a contingent right to one share of common stock or the cash value instead. After the reported transaction, Mr. Kiddoo is shown as directly owning 10.7481 shares or share-equivalents. The form is signed on behalf of Mr. Kiddoo by an attorney-in-fact on 09/22/2025.

Positive

• Disclosure complies with Section 16 reporting by timely reporting accrual of dividend equivalent rights
• Clear explanation that dividend equivalents vest proportionately with underlying RSUs and convert to shares or cash

Negative

• None.

Insights

Securities Analyst

TL;DR: Small, routine accrual of dividend-equivalent rights on RSUs; immaterial to enterprise valuation.

The reported transaction documents the allocation of 3.8753 dividend equivalent rights that vest with preexisting RSUs and convert to common stock or cash. This is a non-cash, equity-based compensation-related accrual rather than an open-market purchase or sale. The filing identifies direct beneficial ownership totaling 10.7481 share-equivalents following the accrual. Based solely on the form's details, the change appears administrative and compensation-related with no indication of a disposition, trading intent, or material shift in ownership.

Corporate Governance Expert

TL;DR: Disclosure aligns with Section 16 requirements; transaction reflects compensation mechanics, not a governance event.

The Form 4 clarifies that dividend equivalent rights have been credited against previously awarded RSUs and will vest proportionately. The explanation matches typical equity award practice where dividend equivalents accrue and convert to shares or cash upon vesting. The form is properly executed by an attorney-in-fact, indicating authorized reporting. There is no mention of amendments, sales, or changes to director status in the filing.

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
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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^*

KIDDOO BRUCE E

(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		3.8753		(1)	(1)	Common Stock	3.8753	$0.0	10.7481	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: Bruce E. Kiddoo	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 change did Bruce E. Kiddoo report on the Form 4 for WDC?

The Form 4 reports the acquisition of 3.8753 dividend equivalent rights related to previously awarded RSUs, increasing direct beneficial ownership to 10.7481 share-equivalents.

When was the transaction and when was the Form 4 signed?

The transaction date is 09/18/2025 and the Form 4 was signed on behalf of the reporting person on 09/22/2025.

What are dividend equivalent rights as described in the filing?

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

Does the Form 4 show a sale or market transaction by the director?

No. The Form 4 documents an accrual (A) of dividend equivalent rights related to RSUs, not a sale or open-market purchase.

Who signed the Form 4 for Bruce E. Kiddoo?

The form was signed By: /s/ Sandra Garcia Attorney-in-Fact for Bruce E. Kiddoo on 09/22/2025.