Teh Ban Seng 4

What Happened
Teh Ban Seng, Executive Vice President & Chief Commercial Officer of Seagate Technology Holdings plc (STX), had a total of 1,262 derivative units convert into common shares on March 9, 2026. The filing shows two conversion events of 599 and 663 shares each, reported with an exercise/conversion price of $0.00. The same numbers also appear as "disposed" derivative entries in the filing; the transaction is recorded as conversion/settlement of RSUs rather than an open-market purchase or sale.

Key Details

• Transaction date: March 9, 2026; Form 4 filed March 11, 2026 (within the typical two-business-day reporting window).
• Reported amounts: 599 shares (acquired) + 663 shares (acquired) = 1,262 shares converted; matching 599 and 663 share "disposed" derivative entries. All entries show $0.00 exercise price.
• Shares owned after the transaction: not specified in the provided excerpt.
• Footnotes: F1 and F2 state these are RSU grants under the 2022 Equity Incentive Plan with multi-year vesting schedules (one grant began vesting Sept 9, 2023; another vested 1/4 on Sept 9, 2025 with remaining quarterly vesting over three years).
• Transaction code M denotes exercise/conversion of a derivative security. The filing does not explicitly state tax withholding or a 10b5-1 plan.

Context
Per the footnotes, these entries reflect RSUs vesting and converting into common shares (non-cash compensation). Form 4 often records both the acquisition on vesting and any subsequent disposition of derivative units (for example, net settlement or withholding), but this particular filing does not provide a separate explanatory line stating tax withholding; therefore the exact reason for the "disposed" derivative entries isn’t explicitly detailed. This is routine insider reporting of vested equity rather than an open-market buy or sell.