Chong Kian Fatt 4

What Happened
Chong Kian Fatt, EVP Global Operations at Seagate Technology (STX), had 678 restricted stock units (RSUs) convert to 678 ordinary shares on 2026-03-11 (reported as a derivative exercise/conversion, code M). The filing shows the acquired and disposed amounts both as 678 shares at a reported price of $0.00, indicating a conversion/settlement event rather than an open-market purchase or sale with cash proceeds.

Key Details

• Transaction date: 2026-03-11 (Form 4 filed 2026-03-12 — timely filing).
• Reported amounts: 678 shares acquired (exercise/conversion, code M) and 678 shares disposed (derivative). Reported price: $0.00 for both entries.
• Shares owned after transaction: Not disclosed in the filing.
• Footnote: The shares derive from an RSU grant under the Seagate 2022 Equity Incentive Plan; vesting began Sept 11, 2024 (one-quarter) and continues in equal quarterly installments over a four-year total vesting period.
• No indication of a 10b5-1 plan, tax-withholding mechanics, or cash proceeds in the reported transactions.

Context
Code M covers exercises or conversions of derivatives (here, RSUs converting into common shares). A $0.00 per-share report typically means shares were issued on vesting/settlement rather than bought with cash; the matching disposal line may reflect administrative handling of derivative shares in the filing, but the Form 4 does not show cash sale proceeds. This is not an open-market purchase or a cash sale that signals a direct investment decision.