Western Digital Corporation Increases Shares Available under 2021 Long-Term Incentive Plan

Western Digital Corporation (NASDAQ:WDC) recently announced the approval of an amendment and restatement of its 2021 Long-Term Incentive Plan during its annual meeting of stockholders held on November 20, 2024.

At the meeting, shareholders gave their approval to increase the shares available for issuance under the Equity Plan by 6 million shares. This amendment was detailed in the company’s definitive proxy statement filed with the Securities and Exchange Commission on October 7, 2024. The Board of Directors had previously approved this amendment on August 22, 2024, subject to shareholder approval.

The specifics and implications of the amendment are contained within the Equity Plan, a copy of which has been filed as Exhibit 10.1 in the company’s recent filing with the SEC.

Moreover, the results from the Annual Meeting concerning the election of directors were also disclosed. Shareholders elected eight directors to hold office until the next annual meeting, with detailed voting results provided in the filing.

Additionally, shareholders voted in favor of the Executive Officer compensation, approving the named executive officer compensation as described in the Proxy Statement.

Furthermore, shareholders approved the Equity Plan as presented in Item 5.02 of the filing, with voting results indicating shareholder support for the plan.

Lastly, the appointment of KPMG LLP as the company’s independent registered public accounting firm for fiscal 2025 was ratified by shareholders, details of which can be found in the filing.

The recent activities and approvals announced during the annual meeting are part of Western Digital Corporation’s efforts to align shareholder interests and enhance long-term value creation.

The company’s filing with the Securities and Exchange Commission provides a comprehensive overview of these developments and reflects Western Digital Corporation’s commitment to transparent and effective corporate governance practices.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Western Digital’s 8K filing here.

About Western Digital

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Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.

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