Teh Ban Seng 4

What Happened
Teh Ban Seng, EVP & Chief Commercial Officer of Seagate Technology (STX), sold a total of 15,560 ordinary shares in open-market transactions on May 13–14, 2026 and exercised stock options to acquire 8,003 shares on May 14, 2026. Sales totaled approximately $12,687,978 (about $6.15M on 5/13 and $6.54M on 5/14). He paid roughly $611,618 to exercise the options (3,515 @ $64.31; 2,358 @ $101.34; 2,130 @ $68.83) and the exercised 8,003 shares were sold the same day for about $6.54M (suggesting a same-day disposition of exercised shares).

Key Details

• Dates: May 13, 2026 (multiple open-market sales under a 10b5-1 plan) and May 14, 2026 (option exercises and sale).
• Sales: 7,557 shares sold on 5/13 for ~$6,147,253 (multiple trades, weighted-average prices listed in the filing); 8,003 shares sold on 5/14 for $6,540,725 (avg ~$817.28). Total sold = 15,560 shares for ~$12.69M.
• Option exercises: Acquired 3,515, 2,358 and 2,130 shares on 5/14 by paying ~$226,050, ~$238,960 and ~$146,608 respectively (total cost ≈ $611,618). The filing also shows corresponding derivative dispositions at $0 (conversion/termination of the options).
• 10b5-1: All 5/13 transactions were effected pursuant to a Rule 10b5-1 trading plan adopted Feb 11, 2026 (footnote F1). Several sales were reported as weighted averages for multiple trades (see footnotes F2–F18).
• Vesting notes: Options are subject to multi-year vesting schedules (see F19–F21).
• Shares owned after transaction: Not disclosed in the provided excerpt.
• Timeliness: Form filed May 14, 2026 for transactions on May 13–14; no late filing flag indicated in the provided data.

Context

• The pattern on May 14 indicates option exercises followed by immediate sale of the resulting shares (exercise cost paid, then shares sold the same day). This is commonly reported as exercising options and selling the acquired shares; filings show the option conversions/terminations as $0 derivative dispositions.
• Sales executed under a 10b5-1 plan are pre‑scheduled and are generally considered routine. Purchases or long-term additions tend to be viewed as stronger bullish signals; this filing mainly documents planned sales and option exercises.

If you want, I can compute the exact net cash received after exercise costs or extract the weighted-average prices and trade ranges noted in the footnotes.