Lee James CI 4

What Happened
James Lee, EVP & Chief Legal Officer of Seagate Technology (STX), had 1,237 restricted share units (RSUs) convert to ordinary shares on January 22, 2026. To satisfy tax withholding, 564 of those shares were surrendered at $346.53 each, totaling $195,443. The conversion/settlement is recorded as exercise/conversion of a derivative (code M) with a related tax withholding disposition (code F). Net shares retained from this vesting event were 673 (1,237 acquired less 564 withheld).

Key Details

• Transaction date: January 22, 2026. Form filed Jan 26, 2026 (timely, within two business days).
• Shares converted (acquired): 1,237 RSUs converted to ordinary shares (reported as M, $0.00 acquisition price for the derivative).
• Shares surrendered for taxes (disposed): 564 shares at $346.53 each = $195,443 (reported as F).
• Derivative cancellation: filing also shows the RSU derivative disposition of 1,237 units at $0.00 (standard reporting when RSUs convert).
• Shares owned after transaction: not stated in the provided summary of the filing.
• Footnotes: F1 — each RSU represents a contingent right to one ordinary share. F2 — these RSUs were granted under the 2022 Equity Incentive Plan and vest quarterly (one-quarter vested July 22, 2025, with equal quarterly installments thereafter).

Context
This was a routine vesting/settlement of RSUs rather than an open-market buy or sale. The tax withholding via surrender of shares (code F) is common and does not by itself indicate a change in trading views. Code M indicates conversion/exercise of a derivative (RSU → shares); the separate F line reflects the tax-withholding shares surrendered. No late filing flag was indicated.