Chong Kian Fatt 4

What Happened

• Chong Kian Fatt, Executive Vice President, Global Operations at Seagate Technology (STX), reported conversion/exercise of derivative awards on March 9, 2026. The filing shows two conversion events: 202 shares and 379 shares were converted (acquired) at $0.00 and the same amounts (202 and 379) were disposed (derivative) the same day. The total shares converted and disposed were 581, with no purchase price or cash outlay reported.

Key Details

• Transaction date: 2026-03-09 (Form 4 filed 2026-03-11 — appears timely).
• Transaction code: M (exercise or conversion of a derivative instrument).
• Quantities & prices: Acquired 202 shares @ $0.00 and 379 shares @ $0.00; Disposed the same 202 and 379 shares (total 581) — total reported value $0.
• Shares owned following the transaction: Not specified in the provided excerpt of the filing.
• Footnotes: The reported conversions relate to RSU grants under the 2022 Equity Incentive Plan. Footnote F1 describes an RSU grant with a four‑year vesting (25% vested Sept 9, 2023, remainder vesting quarterly thereafter). Footnote F2 describes another RSU grant with 25% vested Sept 9, 2025 and the remainder vesting quarterly over the next three years.
• Filing timeliness: Reported within two business days of the transaction date (no late filing flag shown).

Context

• These entries are conversions of restricted stock units (RSUs) into common shares (transaction code M). Because the same number of shares were both acquired (converted) and disposed on the same date, there was no net increase in beneficial ownership reported in this filing. Such conversions and same‑day dispositions are commonly administrative (e.g., settlement or withholding) rather than open‑market purchases; the filing itself does not state the reason for the dispositions.