Seagate (STX) EVP & CLO James Lee Sells 9,013 Shares After Exercise

What Happened

• James Lee, Seagate Technology (STX) Executive Vice President & Chief Legal Officer, exercised 4,032 option shares at $158.40 per share (cost ~$638,669) on Aug 24, 2026. On the same day he sold approximately 9,013 ordinary shares in multiple open-market trades, generating about $7.16 million in gross proceeds. The Form 4 also reports 4,032 derivative shares disposed at $0 (reflecting shares surrendered in connection with the option exercise/settlement).
• These actions are primarily sales (routine monetization following option exercise) rather than open-market purchases.

Key Details

• Transaction date: August 24, 2026 (Form 4 filed Aug 26, 2026).
• Option exercise: 4,032 shares at $158.40 each; cash paid ~$638,669.
• Open-market sales: ~9,013 shares across many trades; aggregated proceeds ≈ $7,163,924. Individual sale prices ranged broadly (see footnotes) with many trades reported as weighted-average prices.
• Derivative disposition: 4,032 shares reported disposed at $0 (ties to the exercise/settlement).
• Notable footnotes: F1 — trades were executed pursuant to a Rule 10b5-1 trading plan adopted Jan 29, 2026. Several footnotes (F2–F25) explain that certain sale line items represent multiple trades at price ranges (weighted averages). F26 describes the option vesting schedule under the company plan.
• Shares owned after the transactions are not provided in the excerpt.

Context

• This appears to be a common pattern: exercise of vested options followed by sales (often to cover exercise cost, taxes, or to monetize gains). The presence of a 10b5-1 plan indicates the sales were preplanned and executed according to that plan.
• Transaction codes: M = option exercise/conversion, S = open-market sale. The filings do not, by themselves, indicate insider sentiment; they document execution and proceeds.