AI Storage CEO Takes Action on Large Exchangeable Bonds

Seagate Technology Holdings plc (STX) announced on February 11 that its subsidiary, Seagate HDD Cayman, has entered into a private agreement to exchange $600 million principal amount of 3.50% exchangeable notes for approximately $599.2 million in cash and shares of Seagate common stock. Upon closing, expected on or about February 17, the exchanged notes will be retired, leaving roughly $400 million outstanding under the original terms. (investors.seagate.com)

On March 2, CEO William D. Mosley sold approximately 19,000 shares in the open market pursuant to his February 2025 10b5-1 trading plan, generating about $7.5 million and reducing his holdings from roughly 415,000 shares to around 395,000 shares.

That same day, insider Yolanda Lee Conyers disposed of 750 shares under a prearranged plan, realizing approximately $295,000. After the transaction, her total stake stands at about 4,800 shares.

In its fiscal 2026 second-quarter results, announced at the end of January, Seagate grew revenue year-over-year from the mid-$2.3 billion range to the mid-$2.8 billion range, improved margins and earnings per share, and reaffirmed its quarterly dividend of $0.74 per share. (tipranks.com)

In early March, the company reported that its next-generation Mozaic 4 Plus HAMR-based hard disk platform—offering up to 44 TB capacity—has secured production qualifications with two major cloud service providers, expanding its supply foundation for large-scale AI data center storage. (simplywall.st)

Seagate is a global leader in HDDs and related solutions, supplying high-capacity data storage devices to key markets including cloud and hyperscale data centers, enterprise servers, and PCs. (tipranks.com)