Teh Ban Seng 4

What Happened

• Teh Ban Seng, Executive Vice President & Chief Commercial Officer of Seagate Technology (STX), had 989 restricted stock units (RSUs) convert into 989 common shares on March 11, 2026. The filing shows an exercise/conversion of a derivative (code M) with an acquisition price of $0.00 and a corresponding disposition of the derivative instrument at $0.00 — i.e., the RSUs vested and were converted to shares with no cash purchase price reported.

Key Details

• Transaction date: 2026-03-11; Form 4 filed: 2026-03-12 (timely).
• Shares acquired: 989 common shares at $0.00 (resulting from conversion of derivative RSUs).
• Disposition entry: 989 derivative units disposed (conversion of the RSU instrument into shares).
• Shares owned after the transaction: not reported in the provided filing details.
• Footnote: The shares came from a grant of RSUs under the Seagate Technology plc 2022 Equity Incentive Plan subject to a four‑year vesting schedule — one-quarter vested starting Sept 11, 2024 and then in equal quarterly installments thereafter.
• No cash consideration or tax-withholding transaction was reported in the provided lines.

Context

• This was a routine vesting/conversion of RSUs rather than an open‑market purchase or sale. Such conversions reflect scheduled equity compensation vesting and do not by themselves indicate a buy/sell sentiment. The filing appears timely (next‑day filing).