Teh Ban Seng 4

What Happened Teh Ban Seng, Executive Vice President & Chief Commercial Officer of Seagate Technology Holdings plc, had 989 restricted stock units convert to 989 ordinary shares (reported as an exercise/conversion) on 2026-06-11 and then sold those 989 shares in an open-market transaction on 2026-06-12 at $880.19 per share for total proceeds of $870,508. The conversion was recorded at a $0.00 exercise price; the subsequent sale was executed under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction dates and prices:
  • 2026-06-11: Conversion of 989 RSUs to 989 shares (code M) at $0.00.
  • 2026-06-12: Open-market sale of 989 shares (code S) at $880.19 per share, proceeds $870,508.
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: The sale was conducted under a Rule 10b5-1 trading plan adopted by the reporting person on February 11, 2026.
  • F2: The underlying units were restricted share units granted under Seagate's 2022 Equity Incentive Plan with a multi‑year vesting schedule (one-quarter vested starting Sept 11, 2024, then quarterly over four years).
• Filing timeliness: Form 4 was filed on 2026-06-15 for transactions on 2026-06-11 and 2026-06-12 — the filing is timely.

Context

• This sequence (conversion of RSUs to shares followed by a sale) is common when restricted units vest and are immediately sold; the 10b5-1 plan indicates the sale was pre-planned rather than a discretionary trade.
• The transactions are sales (not purchases), which are typically routine liquidity events tied to compensation vesting rather than a clear bullish signal.