High-Performing 'Seagate' Executives Sell Off Hundreds of Millions in Shares

Between May 4 and May 14, a member of the board and two executive vice presidents at Seagate Technology Holdings plc (NASDAQ: STX) executed open-market transactions to sell portions of their holdings, realizing tens of millions of dollars in cash. Director Stephanie Tilenius disposed of approximately $1.21 million (about KRW 2 billion) in discretionary trades, while Chief Technology Officer John Christopher Morris and Chief Commercial Officer Teh Ban Seng, under Rule 10b5-1 plans established in January, made several staggered sales totaling about $4.2–4.3 million each (roughly KRW 7 billion). Additionally, in combined trades on May 13 and following stock-option exercises on May 14, they each sold roughly $130 million (around KRW 21 billion) in shares. Even after these transactions, all three executives continue to hold thousands of shares directly or indirectly. Filings note that Morris and Teh Ban Seng’s sales primarily reflect liquidity requirements under prearranged trading plans and option exercises.

On April 28, Seagate reported its third-quarter fiscal 2026 results, posting revenue of $3.11 billion and a non-GAAP EPS of $4.10, surpassing market expectations. The company also achieved a record non-GAAP operating margin of 47.0% and generated approximately $950 million in free cash flow.

Founded in 1978, Seagate is a leader in manufacturing hard disk drives and large-scale data storage solutions. The company operates through an Ireland-based holding structure and maintains its principal executive offices in Singapore. Seagate competes with Western Digital and other rivals for global market share in the high-capacity storage segment, including nearline HDDs for major cloud and enterprise customers.