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This excerpt taken from the WDC DEF 14A filed Sep 28, 2009. General
At the Annual Meeting, stockholders will be asked to approve an
amendment and restatement of the Western Digital Corporation
Amended and Restated 2004 Performance Incentive Plan (the
“2004 Performance Incentive Plan”), which was adopted,
subject to stockholder approval, by the Board of Directors on
August 12, 2009. The amendment and restatement of the 2004
Performance Incentive Plan reflects, among other things, the
following amendments, which are subject to stockholder approval
of this proposal:
As of September 16, 2009, a total of 12,376,750 shares
of our common stock were subject to outstanding awards granted
under the 2004 Performance Incentive Plan, and an additional
1,536,486 shares of our common stock were available for new
award grants under the 2004 Performance Incentive Plan. The
Board of Directors approved the additional share authority
requested under the 2004 Performance Incentive Plan based, in
part, on a belief that the number of shares currently available
under the 2004 Performance Incentive Plan does not give us
sufficient flexibility to adequately provide for future
incentives. We will continue to have the authority to grant
awards under the 2004 Performance Incentive Plan, within the
existing 2004 Performance Incentive Plan limits, if stockholders
do not approve this 2004 Performance Incentive Plan proposal.
This excerpt taken from the WDC DEF 14A filed Sep 23, 2008. General
At the Annual Meeting, stockholders will be asked to approve an
amendment of the Western Digital Corporation 2005 Employee Stock
Purchase Plan, or ESPP, which would increase the maximum number
of shares of our common stock authorized for issuance under the
plan by an additional 8,000,000 shares. This amendment was
adopted, subject to stockholder approval, by the Board of
Directors on August 6, 2008.
Currently, a total of 5,000,000 shares of the
company’s common stock are authorized for issuance under
the ESPP. Of these shares, 2,677,131 shares have previously
been purchased and 2,322,869 shares remain available for
purchase in the current and future offering periods. If
stockholders approve this amendment, the maximum number of
shares that may be issued under the ESPP will increase from
5,000,000 to 13,000,000 shares.
The Board of Directors believes that the ESPP will help us
retain and motivate eligible employees and will help further
align the interests of eligible employees with those of our
stockholders. The Board of Directors approved the additional
share authority requested under the ESPP to help ensure that a
sufficient reserve of common stock remains available for
issuance under the ESPP to allow us to continue the plan in the
future.
These excerpts taken from the WDC 10-K filed Aug 20, 2008. General
We design, develop, manufacture and sell hard drives. A hard
drive is a device that uses one or more rotating magnetic disks
(“media”) to store and allow fast access to data. Hard
drives are key components of computers, including desktop and
notebook computers (“PCs”), data storage subsystems
and many consumer electronic (“CE”) devices.
We sell our products worldwide to original equipment
manufacturers (“OEMs”) and original design
manufacturers (“ODMs”) for use in computer systems,
subsystems or CE devices, and to distributors, resellers and
retailers. Our hard drives are used in desktop computers,
notebook computers, and enterprise applications such as servers,
workstations, network attached storage, storage area networks
and video surveillance equipment. Additionally, our hard drives
are used in CE applications such as digital video recorders
(“DVRs”), and satellite and cable set-top boxes
(“STBs”). We also sell our hard drives as stand-alone
storage products and integrate them into external casings,
embedding application software and presenting them as
WD®-branded
external storage appliances for purposes such as personal data
backup and portable or expanded storage of digital music,
photographs, video and other data.
Hard drives provide non-volatile data storage, which means that
the data remains present when power is no longer applied to the
device. Our hard drives currently include 3.5-inch and 2.5-inch
form factor drives, having capacities ranging from 40 gigabytes
(“GB”) to 1 terabyte (“TB”), nominal
rotation speeds of 5,400, 7,200 and 10,000 revolutions per
minute (“RPM”), and offer interfaces including both
Enhanced Integrated Drive Electronics (“EIDE”) and
Serial Advanced Technology Attachment (“SATA”). We
also embed our hard drives into
WD®-branded
external storage appliances that utilize interfaces such as USB
2.0, external SATA,
FireWiretm
and Ethernet network connections. In addition, we recently
announced a family of hard drives specifically designed to
consume substantially less power than standard drives, utilizing
our Green
Powertm
technology.
We manufacture hard drives and head stack assemblies
(“HSAs”) in Malaysia and Thailand. We also design and
manufacture most of our required magnetic heads in California
and head gimbal assemblies (“HGAs”) in Thailand and we
design in California and manufacture in Malaysia most of our
required media and substrates. For geographical financial data,
see Part II, Item 8, Note 6 in the Notes to
Consolidated Financial Statements, included in this Annual
Report on
Form 10-K.
On September 5, 2007, we completed our acquisition (the
“Acquisition”) of Komag, Incorporated
(“Komag”) through a cash tender offer by State M
Corporation (“State M”), our indirect wholly-owned
subsidiary, for all outstanding shares of Komag’s common
stock, which was followed by a merger of State M and Komag (the
“Merger”) whereby Komag became an indirect
wholly-owned subsidiary and changed its name to WD Media, Inc.
The Acquisition has strengthened our production efficiencies and
improved our access to and control of technology and competitive
position in the worldwide hard drive industry, while enhancing
our hard drive manufacturing process by integrating media. The
aggregate purchase price for Komag was approximately
$1 billion, consisting of cash paid for outstanding shares,
transaction fees, severance and other employee-related equity
payments.
General We design, develop, manufacture and sell hard drives. A hard drive is a device that uses one or more rotating magnetic disks (“media”) to store and allow fast access to data. Hard drives are key components of computers, including desktop and notebook computers (“PCs”), data storage subsystems and many consumer electronic (“CE”) devices. We sell our products worldwide to original equipment manufacturers (“OEMs”) and original design manufacturers (“ODMs”) for use in computer systems, subsystems or CE devices, and to distributors, resellers and retailers. Our hard drives are used in desktop computers, notebook computers, and enterprise applications such as servers, workstations, network attached storage, storage area networks and video surveillance equipment. Additionally, our hard drives are used in CE applications such as digital video recorders (“DVRs”), and satellite and cable set-top boxes (“STBs”). We also sell our hard drives as stand-alone storage products and integrate them into external casings, embedding application software and presenting them as WD®-branded external storage appliances for purposes such as personal data backup and portable or expanded storage of digital music, photographs, video and other data. Hard drives provide non-volatile data storage, which means that the data remains present when power is no longer applied to the device. Our hard drives currently include 3.5-inch and 2.5-inch form factor drives, having capacities ranging from 40 gigabytes (“GB”) to 1 terabyte (“TB”), nominal rotation speeds of 5,400, 7,200 and 10,000 revolutions per minute (“RPM”), and offer interfaces including both Enhanced Integrated Drive Electronics (“EIDE”) and Serial Advanced Technology Attachment (“SATA”). We also embed our hard drives into WD®-branded external storage appliances that utilize interfaces such as USB 2.0, external SATA, FireWiretm and Ethernet network connections. In addition, we recently announced a family of hard drives specifically designed to consume substantially less power than standard drives, utilizing our Green Powertm technology. We manufacture hard drives and head stack assemblies (“HSAs”) in Malaysia and Thailand. We also design and manufacture most of our required magnetic heads in California and head gimbal assemblies (“HGAs”) in Thailand and we design in California and manufacture in Malaysia most of our required media and substrates. For geographical financial data, see Part II, Item 8, Note 6 in the Notes to Consolidated Financial Statements, included in this Annual Report on Form 10-K. On September 5, 2007, we completed our acquisition (the “Acquisition”) of Komag, Incorporated (“Komag”) through a cash tender offer by State M Corporation (“State M”), our indirect wholly-owned subsidiary, for all outstanding shares of Komag’s common stock, which was followed by a merger of State M and Komag (the “Merger”) whereby Komag became an indirect wholly-owned subsidiary and changed its name to WD Media, Inc. The Acquisition has strengthened our production efficiencies and improved our access to and control of technology and competitive position in the worldwide hard drive industry, while enhancing our hard drive manufacturing process by integrating media. The aggregate purchase price for Komag was approximately $1 billion, consisting of cash paid for outstanding shares, transaction fees, severance and other employee-related equity payments. This excerpt taken from the WDC 10-K filed Aug 28, 2007. General
We design, develop, manufacture and sell hard drives. A
hard drive is a device that uses one or more rotating magnetic
disks to store and allow fast access to data. Hard drives are
key components of computers, including desktop and notebook
computers (“PCs”), data storage subsystems and many
consumer electronic (“CE”) devices.
We sell our products worldwide to original equipment
manufacturers (“OEMs”) and original design
manufactures (“ODMs”) for use in computer systems,
subsystems or CE devices, and to distributors, resellers and
retailers. Our hard drives are used in desktop computers,
notebook computers, and enterprise applications such as servers,
workstations, network attached storage, storage area networks
and video surveillance equipment. Additionally, our hard drives
are used in CE applications such as digital video recorders
(“DVRs”), and satellite and cable set-top boxes
(“STBs”). We also sell our hard drives as stand-alone
storage products and integrate them into our own WD-branded
external storage appliances for purposes such as personal data
backup and portable or expanded storage of digital music,
photography, video, and other data.
Hard drives provide non-volatile data storage, which means that
the data remains present when power is no longer applied to the
device. Our hard drives currently include 3.5-inch and 2.5-inch
form factor drives, having capacities ranging from 40 gigabytes
(“GB”) to 1 terabyte (“TB”), nominal
rotation speeds of 5,400, 7,200 and 10,000 revolutions per
minute (“RPM”), and offer interfaces including both
Enhanced Integrated Drive Electronics (“EIDE”) and
Serial Advanced Technology Attachment (“SATA”). We
also embed our hard drives into WD-branded external storage
appliances that utilize interfaces such as USB 2.0, external
SATA,
FireWiretm
and Ethernet network connections. In addition, we recently
announced a family of hard drives specifically designed to
consume substantially less power than previous designs.
We manufacture hard drives and head stack assemblies
(“HSAs”) in Malaysia and Thailand. We also design and
manufacture a substantial portion of our required magnetic heads
in California, and head gimbal assemblies (“HGAs”) in
Thailand. Following our planned acquisition of Komag,
Incorporated (“Komag”), a leading media manufacturer
and one of our current suppliers, we will also design in
California and manufacture in Malaysia most of our required
media and substrates. For geographical financial data, see
Part II, Item 8, Note 6 in the Notes to
Consolidated Financial Statements, included in this Annual
Report on
Form 10-K.
On June 28, 2007, we entered into a definitive agreement to
acquire all the outstanding shares of Komag for a value of
approximately $1.0 billion. The planned acquisition of
Komag is intended to strengthen our production efficiencies and
enhance our hard drive manufacturing process by integrating
media. The planned acquisition is structured as a cash tender
offer at $32.25 per share for all the outstanding shares of
Komag common stock, followed by a merger of our indirect
wholly-owned subsidiary into Komag in which the remaining
shareholders of Komag will receive $32.25 in cash per share. The
planned acquisition is expected to close in the third calendar
quarter of 2007. We intend to fund the planned acquisition,
including the expected repurchase of Komag’s convertible
notes due 2014 and related fees and expenses, through a
combination of cash and proceeds from a senior unsecured term
bridge loan facility of up to $1.3 billion.
This excerpt taken from the WDC 10-K filed Nov 20, 2006. General
We design, develop, manufacture and sell hard drives. A hard
drive is a device that uses one or more rotating magnetic disks
to store and allow fast access to data. Hard drives are key
components of computers, data storage subsystems and many
consumer electronic devices.
We sell our products worldwide to original equipment
manufacturers (“OEMs”) for use in computer systems,
subsystems or consumer electronics (“CE”) devices, and
to distributors, resellers and retailers. Our hard drives are
used in desktop computers, notebook computers, and enterprise
applications such as servers, workstations, network attached
storage and storage area networks. Additionally, our hard drives
are used in CE applications such as digital video recorders
(“DVRs”), satellite and cable set-top boxes
(“STBs”), MP3 players, and USB thumb drives. We also
sell our hard drives as stand-alone storage products and
integrate them into our own WD-branded external storage products
for purposes such as personal data backup and portable or
expanded storage of digital music, photography, video, and other
data.
Hard drives provide non-volatile data storage, which means that
the data remains present when power is no longer applied to the
device. Our hard drives currently include
3.5-inch,
2.5-inch and
1.0-inch
form factor drives. The
3.5-inch
form factor drives have capacities ranging from 36 gigabytes
(“GB”) to 500 GB, nominal rotation speeds of 7,200 and
10,000 revolutions per minute (“RPM”), and offer
interfaces including both Enhanced Integrated Drive Electronics
(“EIDE”) and Serial Advanced Technology Attachment
(“SATA”). The
2.5-inch
form factor drives have capacities ranging from 40 GB to 160 GB,
nominal rotation speed of 5,400 RPM, and offer both the EIDE and
SATA interfaces. Our
1.0-inch
form factor, with 4 and 6 GB hard drives, used primarily in
miniature portable storage devices, have a nominal rotation
speed of 3,600 RPM and use the
CompactFlash®
130 interface.
We assemble hard drives in Malaysia and Thailand. We also design
and manufacture a substantial portion of our required magnetic
heads, head gimbal assemblies (“HGAs”) and head stack
assemblies (“HSAs”) in Fremont, California and Bang
Pa-In, Thailand. For geographical financial data, see
Part II, Item 8, Note 10 in the Notes to
Consolidated Financial Statements, included in this Annual
Report on
Form 10-K.
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