SAN JOSE, CA
Western Digital Corporation, (NASDAQ: WDC) also known as WD, today announced that it has entered into exchange agreements with certain institutional investors involving shares of WD common stock and Sandisk Corporation common stock.
Under the agreements, WD will receive an aggregate of 1,865,801 shares of WD common stock in exchange for an aggregate of 653,203 shares of Sandisk common stock. The exchange agreements were entered into on May 5, 2026, and are expected to settle on May 7, 2026, subject to customary closing conditions.
Following settlement of the exchanges, WD will continue to own 1,038,681 shares of Sandisk common stock. The company said it intends to dispose of its remaining Sandisk shares through one or more subsequent transactions, which may include exchanges for WD debt held by WD creditors, exchanges for outstanding shares of WD common stock, or distributions to WD stockholders as dividends.
WD said the transaction is part of its ongoing management of its equity holdings following the completed separation of its HDD and Flash businesses.
About WD
WD, also known as Western Digital, builds storage infrastructure for the AI-driven data economy. The company works with hyperscalers, cloud service providers and enterprises to provide storage solutions designed to help customers store, protect and use data at scale. More information is available at www.wd.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding WD’s expected settlement of the exchanges and the company’s intended disposition of its remaining Sandisk common stock. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.
Factors that may affect actual results include global and regional economic conditions, tariffs or trade restrictions, supplier dependence, demand volatility, market conditions, inflation, interest rates, the impact of WD’s completed separation of its HDD and Flash businesses, competitive conditions, technology development, supply chain disruptions, restructuring activities, cybersecurity risks, legal and regulatory developments, litigation outcomes and other risks described in WD’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K filed on Aug. 14, 2025. WD undertakes no obligation to update forward-looking statements except as required by law.
Media Contact
Western Digital Corporation
Website: www.wd.com