secwatch.observer — SEC 8-K summary
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Issuer:     Seagate Technology Holdings plc (STX)
CIK:        0001137789
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001137789-23-000025
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seagate approves $150M restructuring plan, CEO/CFO take 100% pay cut, EVP departs
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- Restructuring plan approved: ~$150M pre-tax charges, primarily severance; expected annualized savings of ~$200M starting Q1 FY2024.
- CEO William Mosley and CFO Gianluca Romano base salary reduced 100% for 6 months; CCO Ban Seng Teh reduced 50%, effective May 1.
- EVP Operations & Technology Jeffrey Nygaard departing effective May 1, 2023.
- Quarterly cash dividend of $0.70 per share declared, payable July 5 to holders of record June 21.
- Fiscal Q3 2023 earnings results announced in separate press release; specific figures not included in filing body.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1137789/000113778923000025/0001137789-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1137789/000113778923000025/stx-20230420.htm
  HTML page:      https://secwatch.observer/filing/0001137789-23-000025

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