Western Digital Announces Bylaws Amendments and $1.8 Billion Senior Notes Redemption
March 13, 2025 – Western Digital Corporation (NASDAQ: WDC) has announced amendments to its bylaws and plans to redeem $1.8 billion of its 4.750% Senior Notes due 2026.

Key Updates:
1. Bylaws Amendments
The Board approved several changes to the company’s Amended and Restated Bylaws, including:

Updates to advance notice provisions for shareholder proposals and director nominations.
Enhanced requirements for stockholder-proposed nominees, including compensation disclosures and Board interviews.
Adjustments for Delaware General Corporation Law compliance, including changes to stockholder meeting procedures.
New proxy rules, requiring stockholder solicitors to use a non-white proxy card (reserved for Board use).
2. Redemption of $1.8 Billion Senior Notes
Western Digital will redeem $1.8 billion of its 4.750% Senior Notes due 2026 on April 14, 2025, at 100% of the principal amount plus accrued interest. After the redemption, $500 million of these notes will remain outstanding.

These steps reflect Western Digital’s focus on corporate governance improvements and financial flexibility, strengthening its market position.