Teh Ban Seng 4

What Happened Teh Ban Seng, Executive Vice President & Chief Commercial Officer of Seagate Technology (STX), had RSUs convert to ordinary shares on June 9, 2026 (1,262 shares total: 599 + 663 acquired at $0). He then sold 663 of those shares in an open-market transaction on June 10, 2026 at $821.86 per share, generating proceeds of $544,893. The filing records the RSU conversions (derivative exercises) and the market sale; the sale was executed under a pre-established 10b5-1 plan.

Key Details

• Transaction dates: RSU conversion/exercise on 2026-06-09 (599 + 663 shares, $0 acquisition price); open-market sale of 663 shares on 2026-06-10 at $821.86 each (total $544,893).
• Shares acquired via conversion: 1,262 shares (two separate RSU grants recorded).
• Shares sold: 663 shares (open market).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 — the sale was made under a Rule 10b5-1 trading plan adopted Feb 11, 2026. F2/F3 — the converted shares came from RSU grants under Seagate’s 2022 Equity Incentive Plan with multi-year vesting schedules (quarterly vesting over four years).
• Filing/timeliness: Form 4 filed 2026-06-11 for transactions on 6/9–6/10; appears timely (Form 4 must be filed within two business days).

Context “M” transactions here reflect conversion/exercise of equity-based derivatives (RSUs) into ordinary shares. The sequence — RSUs converting to shares then a subsequent open-market sale under a 10b5-1 plan — is common when executives sell vested equity according to a pre-arranged plan. This filing documents a sale, not a purchase; sales are routine and do not by themselves indicate the insider’s private view of the company.