President of Seagate Technology. just declared that he owns no shares of Seagate Technology
President of Seagate Technology. just declared that he owns no shares of Seagate Technology.
James J Lerner, President of Seagate Technology., appears to have filed an empty initial statement of beneficial ownership. This form is usually filed as a prelude to a company officer either receiving options or buying company shares, so there may be more to come from Lerner.
He was just hired as President of Seagate Cloud Systems and Solutions, not the whole company (see the filing from 2/24/14). From the filing:
"Mr. Lerner will also be granted stock options to acquire 125,000 of the Company’s ordinary shares and 150,000 threshold performance share units under the Company’s 2012 Equity Incentive Plan, 100,000 of which units will be subject to additional severance-related provisions (such 100,000 units, the “Transition Award”). Mr. Lerner will participate in the Fifth Amended and Restated Seagate Technology Executive Officer Severance and Change in Control (CIC) Plan (the “Severance Plan”). "