Seagate Executives Engage in Share Transactions While Maintaining Holdings Worth 11 Billion Won

Teh Ban Seng, vice president and chief commercial officer at Seagate Technology Holdings plc (Nasdaq: STX), exercised stock options on January 29 at $101.34 per share to acquire common stock and then sold approximately 19,000 shares on the open market that same day for around $440 per share. After the transactions, his direct and indirect holdings were valued at about $8.3 million (roughly KRW 11 billion). During the same period, insider Jay L. Geldmacher sold roughly 900 shares on January 30 at about $448 each, generating approximately $410,000 (around KRW 550 million) in cash. Meanwhile, legal officer James C. Lee had restricted shares convert to common stock on January 22, with a portion used for tax withholding and the remainder added to his holdings. All of these transactions were routine, tied to regular stock compensation and option exercises, and the executives continue to maintain substantial shareholdings in the company.

On January 27, Seagate reported fiscal 2026 second-quarter results, posting revenue of $2.83 billion (about KRW 3.8 trillion) and adjusted earnings per share of $3.11, both above market expectations. The company also reaffirmed its quarterly dividend of $0.74 per share. Seagate said strong demand for high-capacity hard disk drives for data centers and for its HAMR-based Mozaic product line—especially driven by AI-related data storage needs—drove the performance improvement.

Seagate Technology Holdings plc is a global data storage company specializing in high-capacity hard disk drives and storage systems. Since its Nasdaq listing over 40 years ago, the company has grown around enterprise and cloud customers. Seagate offers storage products and services spanning edge to cloud and has recently emphasized high-density storage technology and strategies to meet data center demand in the AI era.