WESTERN DIGITAL CORP (WDC): M&A transaction — Western Digital finalizes Sandisk spin-off, retains 19.9% stake; SNDK trading Feb 24

WESTERN DIGITAL CORP

Spin-off completed Feb 21, 2025: each WDC share received 1/3 Sandisk share; WDC retains 19.9% stake.
Sandisk (SNDK) began Nasdaq trading Feb 24; WDC continues as WDC.
Sandisk paid $1.5B dividend to WDC pre-spin; WDC amended loan agreement, revolver cut from $2.25B to $1.25B.
WDC leadership: Martin Cole named Board Chair; Bruce Kiddoo & Roxanne Oulman appointed directors.
Don Bennett becomes interim CFO effective Feb 28; Irving Tan remains CEO; Chief Product Officer to be hired.

item 1.01 item 2.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

WESTERN DIGITAL CORP completed a disposition involving Sandisk Corporation (closed 2025-02-21).

Action: disposition
Counterparty: Sandisk Corporation
Closing: 2025-02-21

Exact text from the filing

Effective as of 11:59 p.m. Pacific time on February 21, 2025 (the “Distribution Date”), the Company completed the Spin-Off through a pro rata distribution to holders of record of the Company’s common stock, par value $0.01 per share (“Company Common Stock”), as of 1:00 p.m. Pacific time on February 12, 2025 (the “Record Date”), of one-third (1/3) of one share of Sandisk’s common stock, par value $0.01 per share (“Sandisk Common Stock”), for every one share of the Company Common Stock held by such Company stockholders as of the Record Date (the “Distribution”).

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Source: SEC EDGAR

accession 0001193125-25-033383

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