Seagate Director Michael R. Cannon Settles RSUs with Routine Tax Withholding
Seagate Technology Holdings plc
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Filing Summary
Form 4 Alert: Seagate Technology Holdings plc ($STX) Insider: Michael R. Cannon (Director) Transaction: Tax Withholding (Code F) following RSU Vesting Shares Withheld: 449 shares @ $630.49 ($283,090.01) Shares Acquired: 1,868 shares via RSU conversion (Code M, $0.00) Net Direct Ownership: 14,858 shares (+6,885 shares held indirectly via Trust) Trading Significance: Low (Routine equity vesting and tax settlement)
Comprehensive Analysis
Executive Summary
On October 26, 2026, Seagate Technology Holdings plc ($STX) filed a Form 4 on behalf of Director Michael R. Cannon reporting transactions executed on October 24, 2026. The filing reflects the vesting of 1,868 restricted share units (RSUs) and the associated disposition of 449 ordinary shares to satisfy tax withholding obligations.
Transaction Details
- RSU Conversion (Code M): 1,868 RSUs granted on October 25, 2025, vested and converted into ordinary shares at an exercise price of $0.00.
- Tax Withholding (Code F): 449 ordinary shares were withheld by the issuer at $630.49 per share to cover statutory tax liabilities, representing a total value of $283,090.01.
- Post-Transaction Holdings:
- Direct ownership stands at 14,858 ordinary shares.
- Indirect ownership stands at 6,885 ordinary shares held through the Michael R. Cannon Trust.
Significance & Market Impact
This filing carries Low trading significance as the transaction represents standard director equity compensation settlement and automated tax withholding rather than an open-market sale or discretionary purchase. Additionally, the filing indicates that the reporting person is no longer subject to Section 16 obligations.
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