8-KCorporate ChangesOther EventsExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Bylaw Amendment (Nov 8, 2007)

Filed November 8, 2007For Securities:WDC

Summary

This 8-K filing from Western Digital Corporation (WDC) on November 8, 2007, primarily details the outcomes of its annual stockholder meeting held on November 6, 2007, and an amendment to its bylaws. Key for investors, the meeting saw the re-election of all ten directors, indicating continued board stability. Additionally, the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending June 27, 2008, was ratified by stockholders, providing assurance on financial oversight. The company also amended its Amended and Restated Bylaws, effective November 5, 2007, to permit the issuance and transfer of uncertificated shares. This change is strategic, enabling WDC to participate in the Direct Registration System administered by the Depository Trust Company, which can streamline share ownership and transfer processes for investors.

Key Highlights

  • 1All ten incumbent directors were re-elected at the annual stockholder meeting, ensuring continuity in leadership and governance.
  • 2Stockholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for fiscal year 2008.
  • 3Western Digital Corporation amended its bylaws to allow for the issuance and transfer of uncertificated shares.
  • 4The bylaw amendment enables the company to participate in the Depository Trust Company's Direct Registration System.
  • 5The changes to the bylaws became effective on November 5, 2007.

Frequently Asked Questions

The primary outcomes were the re-election of all ten directors and the ratification of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending June 27, 2008. All director elections and the auditor ratification received strong support from stockholders.

The company amended its bylaws to allow for the issuance and transfer of uncertificated shares. This operational change is intended to facilitate participation in the Direct Registration System managed by the Depository Trust Company, which can simplify share administration and potentially enhance liquidity and transfer efficiency for stockholders.

Allowing uncertificated shares and joining the Direct Registration System can modernize how the company's stock is held and transferred. It may lead to reduced administrative costs, faster transaction settlements, and a more streamlined experience for investors, as shares are recorded electronically rather than through physical certificates.