UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(i) On August 23, 2022 (the “Effective Date”), the Board of Directors (the “Board”) of Seagate Technology Holdings plc (“Seagate”) appointed Richard (Rick) Clemmer to serve as a director of Seagate. Mr. Clemmer was appointed upon the recommendation of the nominating and corporate governance committee and has been determined by the Board to be an independent director under the listing rules of the Nasdaq Stock Market. Mr. Clemmer will serve until Seagate’s next annual general meeting of shareholders (the “AGM”) when he is expected to stand for election by a vote of Seagate’s shareholders.
Mr. Clemmer will participate in the non-employee director compensation arrangements generally applicable to all Seagate non-employee directors. Under the terms of those arrangements as currently in effect, he will receive, among other things: (i) an annual cash retainer of $100,000 for service on the Board, and (ii) an initial restricted share unit grant equal in number to $275,000 divided by the average closing share price for the quarter prior to the grant and rounded to the nearest whole share, provided, however, that the initial grant shall be prorated on the basis of the number of days between the Effective Date and the AGM.
In connection with the appointment, Seagate and Mr. Clemmer will enter into a deed of indemnity, the form of which was filed with the SEC on July 29, 2010, as Exhibit 10.1 to Seagate’s Current Report on Form 8-K dated July 27, 2010.
There are no arrangements or understandings pursuant to which Mr. Clemmer was selected as a director. Mr. Clemmer does not have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
A copy of Seagate’s press release announcing the appointment of Richard (Rick) Clemmer is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description | |
99.1 | Press release, dated August 24, 2022, of Seagate Technology Holdings plc entitled “Seagate Appoints Richard (Rick) Clemmer to the Board of Directors” | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMITED COMPANY | ||
By: | /s/ Katherine E. Schuelke | |
Name: | Katherine E. Schuelke | |
Title: | Senior Vice President, Chief Legal Officer & Company Secretary | |
Date: August 24, 2022 |
Exhibit 99.1
Media Contact:
Gregory Belloni (415) 235-9092
gregory.belloni@seagate.com
Investor Relations Contact:
Shanye Hudson (510) 661-1600
shanye.hudson@seagate.com
SEAGATE APPOINTS RICK CLEMMER TO THE BOARD OF DIRECTORS
FREMONT, Calif. August 24, 2022 - Seagate Technology Holdings plc (NASDAQ: STX), a world leader in data storage and infrastructure solutions, today announced that Richard (Rick) Clemmer has been appointed to the companys Board of Directors, effective August 23, 2022.
Rick is a highly accomplished technology industry leader and so I am delighted to welcome him to Seagates Board of Directors, said Mike Cannon, Seagates Board Chair. Ricks proven track record of driving growth and value creation across multiple global companies make him a strong addition to Seagates board.
Mr. Clemmer brings extensive leadership and financial management experience in technology industries spanning semiconductor, storage, e-Commerce, and software. Mr. Clemmer served as Executive Director, President and Chief Executive Officer of NXP Semiconductors N.V., from 2009 to May 2020 during which he led the company through an IPO and subsequent rapid, profitable revenue growth. Previously, Mr. Clemmer served as a senior advisor to private equity firm KKR & Co. Inc., President and Chief Executive Officer of Agere Systems Inc., and also held a number of executive leadership positions at Texas Instruments, Inc. and Quantum Corporation. Mr. Clemmer currently serves on the boards of HP Inc. and Aptiv PLC, a $15 billion provider of automotive electronic components and solutions. He also serves as the Vice Chair of FIRST, a global non-profit organization focused on advancing STEM education.
Mr. Clemmer holds a bachelors degree in Business Administration from Texas Tech University and a Master of Business Administration from Southern Methodist University.
About Seagate
Seagate Technology crafts the datasphere, helping to maximize humanitys potential by innovating world-class, precision-engineered mass-data storage and management solutions with a focus on sustainable partnerships. A global technology leader for more than 40 years, the company has shipped over three billion terabytes of data capacity. Learn more about Seagate by visiting www.seagate.com or following us on Twitter, Facebook, LinkedIn, YouTube, and subscribing to our blog.
© 2022 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology, and the Spiral logo are registered trademarks of Seagate Technology LLC in the United States and/or other countries.
Document and Entity Information |
Aug. 23, 2022 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | Seagate Technology Holdings plc |
Amendment Flag | false |
Entity Central Index Key | 0001137789 |
Document Type | 8-K |
Document Period End Date | Aug. 23, 2022 |
Entity Incorporation State Country Code | L2 |
Entity File Number | 001-31560 |
Entity Tax Identification Number | 98-1597419 |
Entity Address, Address Line One | 38/39 Fitzwilliam Square |
Entity Address, City or Town | Dublin 2 |
Entity Address, Country | IE |
Entity Address, Postal Zip Code | D02 NX53 |
City Area Code | (353) (1) |
Local Phone Number | 234-3136 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Ordinary Shares, par value $0.00001 per share |
Trading Symbol | STX |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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