Western Digital Corporation has executed a mandatory conversion of all its outstanding Series A Convertible Perpetual Preferred Stock into shares of its common stock, effective February 17, 2026. This action simplifies the company's capital structure and was taken in accordance with the terms established during the preferred stock's original private placement.

Key Details

  • Event: On February 17, 2026, the company converted all issued and outstanding shares of its Series A Preferred Stock into common stock.
  • Triggering Condition: The conversion was permitted after the three-year anniversary of the preferred stock's closing date (January 31, 2023), as the company's common stock closing price exceeded 150% of the conversion price for at least 20 trading days in a 30-day period.
  • Authority: This action was executed under the Mandatory Conversion option as defined in the company's Certificate of Designations for the Preferred Stock.