8-KCorporate ChangesOther EventsExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Bylaw Amendment (Feb 24, 2026)

Filed February 24, 2026For Securities:WDC

Summary

Western Digital Corporation (WDC) has filed an 8-K report detailing significant corporate actions related to its capital structure and debt obligations. The most notable event is the elimination of its Series A Convertible Perpetual Preferred Stock. This action follows the mandatory conversion of all outstanding preferred shares, rendering them no longer in existence. This move simplifies the company's capital structure by removing this class of stock from its books. Furthermore, WDC has successfully redeemed its 2.850% Senior Notes due 2029 and 3.100% Senior Notes due 2032. The company initiated a conditional redemption process and subsequently deposited sufficient funds to cover the principal and accrued interest, thereby fully extinguishing this debt. The redemption was facilitated by the repayment of other debt obligations, which consequently released the liens and security interests previously securing these notes. This debt reduction is a positive signal for investors regarding the company's financial health and commitment to managing its leverage.

Key Highlights

  • 1Western Digital Corporation (WDC) has formally eliminated its Series A Convertible Perpetual Preferred Stock through a Certificate of Elimination filed with Delaware authorities.
  • 2The elimination of the preferred stock occurred after all outstanding shares were mandatorily converted, leaving no remaining preferred stock.
  • 3WDC has fully redeemed its 2.850% Senior Notes due 2029 and 3.100% Senior Notes due 2032.
  • 4The redemption of these senior notes was completed on February 23, 2026, by depositing the necessary funds with the trustee.
  • 5The company's repayment of other debt obligations on February 19, 2026, led to the automatic release of security interests previously backing the redeemed notes.
  • 6This filing effectively cleans up the capital structure by removing preferred stock and reduces outstanding debt.

Frequently Asked Questions

The elimination of the Series A Convertible Perpetual Preferred Stock simplifies Western Digital's capital structure by removing this class of stock. It follows the mandatory conversion of all outstanding shares, meaning there are no longer any preferred shares of this series, reducing complexity for shareholders and the company.

Western Digital has fully redeemed both the 2.850% Senior Notes due 2029 and the 3.100% Senior Notes due 2032. The company deposited sufficient funds to pay off the principal and accrued interest for these notes, effectively extinguishing this debt obligation.

Yes, as a consequence of Western Digital repaying certain other debt obligations on February 19, 2026, the liens and security interests that previously secured the 2029 and 2032 Notes were automatically released. This allowed for a cleaner extinguishment of the debt.

This filing primarily indicates actions taken to manage the company's capital structure and debt. The redemption of senior notes and elimination of preferred stock, especially after a mandatory conversion, suggest proactive financial management rather than distress. It can be viewed positively as a move towards simplifying the balance sheet and potentially reducing interest expenses or improving leverage ratios.