8-KRegulation FDExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Regulation FD Disclosure (Nov 7, 2014)

Filed November 7, 2014For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K on November 6, 2014, to disclose information regarding an offering of its common stock by Hitachi, Ltd., a significant shareholder. Hitachi, Ltd. planned to sell 5,434,783 shares of WDC common stock at a public offering price of $96.00 per share. The filing also noted that the selling shareholder had granted the underwriters an option to purchase up to an additional 815,217 shares, indicating potential for a larger sell-off. This event is significant for investors as it reflects a substantial reduction in Hitachi's stake in Western Digital. Such large insider or major shareholder sales can sometimes signal a change in strategic interest or be interpreted as a vote of confidence (or lack thereof) in the company's future prospects. Investors should monitor the impact of this sale on WDC's stock price and ownership structure.

Key Highlights

  • 1Hitachi, Ltd. is offering to sell 5,434,783 shares of Western Digital (WDC) common stock.
  • 2The public offering price for these shares is set at $96.00 per share.
  • 3Underwriters have been granted an option to purchase up to an additional 815,217 shares from Hitachi, Ltd.
  • 4The filing is a Regulation FD disclosure, primarily referencing a press release issued on November 6, 2014.
  • 5The event date reported is November 5, 2014, with the filing date of November 6, 2014.
  • 6This indicates a significant divestment by a major shareholder, Hitachi, Ltd.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose information about the pricing of an offering of Western Digital Corporation's common stock by a selling stockholder, Hitachi, Ltd., in compliance with Regulation FD.

Hitachi, Ltd. is the selling stockholder. They are offering 5,434,783 shares of Western Digital common stock. There is also an option for underwriters to purchase up to an additional 815,217 shares.

The public offering price for the shares is $96.00 per share.

No, this offering involves the sale of existing shares currently held by Hitachi, Ltd. Western Digital Corporation is not issuing new shares in this transaction.