'Seagate' CEO Sells Hundreds of Millions in Shares Within a Month

On March 2, Seagate Technology Holdings plc (STX) CEO William D. Mosley sold roughly 19,000 shares of the company’s common stock in the open market under a pre-established SEC Rule 10b5-1 trading plan, converting about USD 7.5 million (approximately KRW 10 billion) into cash.

On March 19, he diversified his holdings by transferring approximately 24,000 shares from his direct ownership into an exchange-fund structure, thereby converting about USD 10 million (around KRW 13 billion) of direct equity into indirect holdings.

On April 1, he again disposed of about 20,000 shares in the open market, raising an additional USD 8.4 million (roughly KRW 11 billion) in cash. He continues to own several hundred million dollars’ worth of Seagate stock directly.

Seagate’s share price had climbed on expectations of growing AI-driven data-storage demand but experienced heightened volatility—most notably an 8% drop on March 27 following a rival’s AI technology announcement.

In February, the company also announced a capital-structure adjustment, exchanging about USD 600 million (approximately KRW 780 billion) of senior notes for cash and common shares.

Founded in 1979, Seagate is a leading U.S. data-storage company supplying high-capacity hard drives and SSDs to cloud and enterprise customers worldwide.

Mosley has led Seagate since 2017 and, as of 2025, serves concurrently as board chair. A long-tenured executive, he joined the company in the mid-1990s and has overseen R&D, sales and operations.