Western Digital Corp. 8-K Summary
Business Context and Reporting Period
Western Digital Corporation (WDC) filed a Current Report on Form 8-K dated February 17, 2026. The filing reports a material modification to the rights of security holders regarding the company's Series A Convertible Perpetual Preferred Stock.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on a corporate action involving equity conversion.
Material Changes
On February 17, 2026, Western Digital exercised its option to mandate the conversion of all outstanding shares of its Series A Convertible Perpetual Preferred Stock into shares of Common Stock. This action was taken pursuant to Section 8.2 of the Certificate of Designations, which allows for mandatory conversion if the Common Stock closing price exceeds 150% of the Conversion Price for at least 20 trading days within a 30-day period. The Preferred Stock was originally issued in a private placement closing on January 31, 2023.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of new risks or contingencies. The document serves as a formal notification of the completed conversion event.
Investor Verification Checklist
- Verify the exact number of Common Stock shares issued upon conversion of the Preferred Stock.
- Confirm the specific conversion price applied during the mandatory conversion.
- Review the impact of this conversion on the company's total share count and potential dilution.
- Check subsequent filings for any updated capitalization tables reflecting this change.