Skip to main content

Seagate Technology Holdings plc

For the period ended Jun 27, 2025. Filed Sep 9, 2025.

View on SEC.gov

About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Jun 27, 2025 · Filed Sep 9, 2025

STX$460.99-1.2%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits
Contents

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒Definitive Proxy Statement
☐Definitive Additional Materials
☐Soliciting Material Pursuant to §240.14a-12

Seagate Technology

Holdings Public Limited Company

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☒No fee required.
☐Fee paid previously with preliminary materials.
☐Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

September 9, 2025

Dear Fellow Shareholder:

You are cordially invited to attend the 2025 Annual General Meeting of Shareholders of Seagate Technology Holdings plc, which will be held virtually via live webcast on Saturday, October 25, 2025 at 5:00 p.m. Singapore Standard Time.

You may attend the meeting, vote, and submit questions during the meeting by visiting www.virtualshareholdermeeting.com/STX2025 or via live webcast to be made available at the registered office of the Company at 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland at 5:00 p.m. Singapore Standard Time (5:00 a.m. Eastern Daylight Time / 10:00 a.m. Irish Time).

Details of the business to be presented at the meeting may be found in the Notice of 2025 Annual General Meeting and the Proxy Statement. We urge you to read the Proxy Statement carefully and use one of the methods of voting described in the Proxy Statement accompanying this letter.

On behalf of the Board of Directors of Seagate Technology Holdings plc, we thank you for your continued support.

Sincerely,

Michael R. CannonWilliam D. Mosley
Board ChairChief Executive Officer and Director

Notice of 2025 Annual General Meeting of Shareholders

The 2025 Annual General Meeting of Shareholders (the "2025 AGM") of Seagate Technology Holdings plc (“Seagate” or the “Company”), a company incorporated under the laws of Ireland with its registered office at 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland, and its principal executive offices at 121 Woodlands Avenue 5, Singapore, 739009, will be held virtually via live webcast on Saturday, October 25, 2025, at 5:00 p.m. Singapore Standard Time. Shareholders of record can attend the 2025 AGM by visiting www.virtualshareholdermeeting.com/STX2025 (the "Website") or via live webcast to be made available at the registered office of the Company, 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland. There is no requirement to register to attend the 2025 AGM.

The purposes of the 2025 AGM, which are more completely described in the accompanying Proxy Statement, are:

General ProposalsVoting OptionsBoard RecommendationsMore Information
Proposal No. 1Election of Directors by way of Separate ResolutionsFOR, AGAINST, or ABSTAIN for each Director NomineeFOR each Director NomineePage 10
Proposal No. 2Advisory Vote on NEO CompensationFOR, AGAINST, or ABSTAINFORPage 29
Proposal No. 3Ratification of Appointment of Independent Auditors and Approval of Audit and Finance Committee to set Remuneration of Independent AuditorsFOR, AGAINST, or ABSTAINFORPage 65
Proposal No. 4Approve the Amended and Restated Employee Stock Purchase PlanFOR, AGAINST, or ABSTAINFORPage 68
Proposal No. 5Approve the Amended and Restated 2022 Equity Incentive PlanFOR, AGAINST, or ABSTAINFORPage 76
Irish Law Proposals
Proposal No. 6Grant the Board authority to allot and issue shares under Irish lawFOR, AGAINST, or ABSTAINFORPage 91
Proposal No. 7Grant the Board the authority to opt-out of statutory pre-emption rights under Irish lawFOR, AGAINST, or ABSTAINFORPage 92
Proposal No. 8Determine price range the Company can re-allot shares it acquires as treasury shares under Irish lawFOR, AGAINST, or ABSTAINFORPage 94
Other
Conduct such other business properly brought before the meeting.

The Board recommends that you vote “FOR” each Director Nominee included in Proposal 1 and “FOR” each of Proposals 2 through 8. The full text of these proposals is set forth in the accompanying Proxy Statement.

Proposals 1 through 6 are ordinary resolutions, requiring the approval of a majority of the votes cast. Proposals 7 and 8 are special resolutions, requiring the approval of at least 75% of the votes cast.

Only shareholders as of the close of business on August 27, 2025 (the “Record Date”) are entitled to receive notice of and vote at the 2025 AGM. If you are a shareholder as of the close of business on the Record Date, you may attend, speak, and vote at the 2025 AGM via the Website, by entering the 16-digit control number included on your notices, proxy cards, or voting instruction forms received with this Notice of 2025 AGM, or via live webcast to be made available at the registered office of the Company, where you will be required to present valid photo identification matching that of a shareholder appearing on the Company's register as of the close of business on the Record Date and a copy of a share certificate or other evidence of share ownership. Alternatively, you may appoint a proxy or proxies to attend, speak, and vote on your behalf. A proxy need not be a shareholder. If you wish to appoint as proxy any person other than the individuals specified on the proxy card, please contact the Company Secretary at our registered office for further instructions or deliver to the Company Secretary a proxy card in the form mailed to you or in the form set out in section 184 of the Irish Companies Act 2014 (the “Irish Companies Act”). You may submit questions in advance of the 2025 AGM at www.proxyvote.com and may communicate questions during the meeting through the Q&A function to be made available at the meeting.

Please cast your vote by proxy. You may vote by using the Internet, by telephone, during the 2025 AGM, or by completing, signing, and returning your proxy card by mail by no later than 11:59 a.m. Eastern Daylight Time (11:59 p.m. Singapore Standard Time) on October 24, 2025 (or, if you are a beneficial owner, such earlier time as your bank, broker-dealer, brokerage firm, or nominee may require). Instructions on how to submit your proxy are set forth in the accompanying Proxy Statement.

Further instructions on how to attend, vote, and submit questions at the meeting will be posted on the Website.

If you have any questions about the meeting or require assistance, please call Georgeson LLC, our proxy solicitor, at +1 781 575 2137 or at + 1 800 891 3214 (toll-free within the United States).

During the meeting, management will review Seagate's affairs and will also present Seagate’s Irish statutory financial statements for the fiscal year ended June 27, 2025 (“Fiscal Year 2025” or “FY2025”) and the reports of the directors and auditors thereon. There is no requirement under Irish law that the Irish statutory financial statements be approved by shareholders, and no such approval will be sought at the meeting.

By order of the Board,
September 9, 2025James C. LeeExecutive Vice President, Chief Legal Officer, and Company Secretary

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS

FOR THE ANNUAL GENERAL MEETING OF SHAREHOLDERS

TO BE HELD ON OCTOBER 25, 2025

We will rely on the U.S. Securities and Exchange Commission (the “SEC”) rule that allows companies to furnish proxy materials over the Internet instead of mailing printed copies of those materials to each shareholder. As a result, we are sending our shareholders a Notice of Internet Availability of Proxy Materials (the “Notice”) instead of a paper copy of our Proxy Statement, including our Irish statutory financial statements for Fiscal Year 2025 and any other appendices thereto, the proxy card, and our Annual Report on Form 10-K for Fiscal Year 2025 (collectively, the “Proxy Materials”). The Notice also contains instructions on how to request a paper or email copy of the Proxy Materials. If you have previously elected to receive our Proxy Materials electronically, you will continue to receive these materials via email unless you elect otherwise. A full printed set of our Proxy Materials will be mailed to you automatically only if you have previously made a permanent election to receive our Proxy Materials in printed form. The Proxy Materials are first being mailed on or around September 9, 2025 to shareholders as of the close of business on the Record Date.

IF YOU ARE A SHAREHOLDER WHO IS ENTITLED TO ATTEND, SPEAK, AND VOTE AT THE 2025 ANNUAL GENERAL MEETING OF SHAREHOLDERS, THEN YOU ARE ENTITLED TO APPOINT A PROXY OR PROXIES TO ATTEND, SPEAK, AND VOTE ON YOUR BEHALF. A PROXY NEED NOT BE A SHAREHOLDER. IF YOU WISH TO APPOINT AS PROXY ANY PERSON OTHER THAN THE INDIVIDUALS SPECIFIED ON THE PROXY CARD, PLEASE CONTACT THE COMPANY SECRETARY AT OUR REGISTERED OFFICE FOR FURTHER INSTRUCTIONS OR DELIVER TO THE COMPANY SECRETARY A PROXY CARD IN THE FORM MAILED TO YOU OR IN THE FORM SET OUT IN SECTION 184 OF THE IRISH COMPANIES ACT.

Proxy Statement Summary1
General Information5
Proposals Requiring Your Vote10
Proposal 1 - Election of Each of the 11 Director Nominees10
Corporate Governance19
Compensation of Directors26
Proposal 2 - Approve, In an Advisory, Non-Binding Vote, the Compensation of the Company's Named Executive Officers (Say-on-Pay)29
Compensation Discussion and Analysis30
Executive Summary30
Fiscal Year 2025 Company Highlights30
Fiscal Year 2025 Executive Compensation Highlights31
Fiscal Year 2025 Executive Compensation Practices32
Our Executive Compensation Strategy32
Our Fiscal Year 2025 Executive Compensation Programs33
Say-on-Pay Support33
Role of Our Compensation and People Committee33
Role of the Compensation Consultant34
Role of our CEO and Management in the Compensation Process34
Executive Market Comparison Peer Group and Benchmark Philosophy35
How We Determine Individual Compensation Amounts for the NEOs37
Annual Base Salary37
Annual Incentive Plan – Executive Officer Performance Bonus38
Long-Term Equity Incentives40
Severance and Change in Control Benefits44
Benefits and Perquisites45
Non-Qualified Deferred Compensation Plan45
Other Company Policies and Compensation Considerations47
Share Ownership Requirements48
Compensation and People Committee Report49
Compensation and People Committee Interlocks and Insider Participation49
Compensation of Named Executive Officers50
Summary Compensation Table for Fiscal Year 202550
All Other Compensation for Fiscal Year 202551
Grants of Plan-Based Awards Table for Fiscal Year 202552
Outstanding Equity Awards at 2025 Fiscal Year-End53
Option Exercises and Shares Vested for Fiscal Year 202555
Non-Qualified Deferred Compensation Plans55
Potential Payments Upon Qualifying Termination or Change in Control56
Chief Executive Officer Pay Ratio60
Pay Versus Performance60
Proposal 3 - A Non-Binding Ratification of the Appointment of Ernst & Young LLP as the Independent Auditors for the Fiscal Year Ending July 3, 2026 and Binding Authorization of the Audit and Finance Committee to Set Auditors' Remuneration65
Audit and Finance Committee Report65
Fees to Independent Auditors67
Pre-Approval of Services by Independent Auditors67
Proposal 4 - Approval of the Amended and Restated Employee Stock Purchase Plan68
Proposal 5 - Approval of the Amended and Restated 2022 Equity Incentive Plan68
Proposal 6 - Grant Board Authority to Allot and Issue Shares91
Proposal 7 - Grant Board Authority to Opt-out of Statutory Pre-emption Rights92
Proposal 8 - Determine the Price Range at which the Company can Re-Allot Shares Held as Treasury Shares94
Certain Relationships and Related Transactions95
Security Ownership Of Certain Beneficial Owners and Management96
Shareholder Proposals and Nominations99
Disclosure of Interests101
Householding103
Appendix A - Director's Report and Financial Statements For Year Ended June 27, 2025A-1
Appendix B - Seagate Technology Holdings Public Limited Company Amended and Restated Employee Stock Purchase Plan PurposeB-1
Appendix C - Seagate Technology Holdings Public Limited Company 2022 Equity Incentive PlanC-1

Proxy Statement Summary

In this Proxy Statement, “Seagate,” the “Company,” “we,” “us,” and “our” refer to Seagate Technology Holdings plc, an Irish public limited company. This Proxy Statement and the enclosed proxy card, or the Notice of Internet Availability of Proxy Materials, are first being mailed on or about September 9, 2025 to shareholders as of the close of business on the Record Date.

This summary highlights information contained elsewhere in this Proxy Statement. For more complete information about the topics summarized below, please review the entire Proxy Statement and Seagate’s Annual Report on Form 10-K for Fiscal Year 2025.

Meeting Information
Date and Time5:00 p.m. Singapore Standard Time, October 25, 2025Internet Linkby visiting:www.virtualshareholdermeeting.com/STX2025orvia live webcast to be made available at the registered office of the Company at 10 Earlsfort Terrace, Dublin 2, D02 T380, IrelandRecord DateAugust 27, 2025
Voting Information
Internetwww.proxyvote.comTelephone+1.800.690.6903MailSign, date and return your proxy card or voting instruction form in the enclosed envelope
Voting:Shareholders as of the close of business (Eastern Daylight Time) on the Record Date may vote on the proposals. Each ordinary share entitles the holder to exercise one vote per ordinary share per proposal at the 2025 AGM. Your vote is very important. We encourage you to vote in advance of the 2025 AGM.
Attendance:All shareholders as of the close of business on the Record Date may attend the 2025 AGM. You may attend, speak, and vote at the meeting even if you have completed and submitted a form of proxy. Shareholders may virtually attend, vote, and submit questions at the 2025 AGM on the internet via live webcast at www.virtualshareholdermeeting.com/STX2025 or via live webcast to be made available at the registered office of the Company, 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland. Instructions on how to attend, vote, and submit questions at the meeting will be posted on that website. Participants intending to attend via live webcast at www.virtualshareholdermeeting.com/STX2025 should ensure that they have a strong Wi-Fi connection and give themselves plenty of time to log in prior to the start of the 2025 AGM. Participants intending to attend via live webcast at www.virtualshareholdermeeting.com/STX2025 will need to demonstrate proof of share ownership by entering the 16-digit control number included on their notices, proxy cards, or voting instruction forms received with their Notice of Proxy Materials. Participants intending to attend via live webcast to be made available at the registered office of the Company at www.virtualshareholdermeeting.com/STX2025 should bring photographic identification to verify their identity as well as proxy cards or voting instruction forms received with their Notice of Proxy Materials to demonstrate proof of share ownership.
Proxy Materials:The Proxy Materials were first made available to shareholders on or about September 9, 2025.
2025 Proxy StatementSEAGATE TECHNOLOGY HOLDINGS PLC1

Proposals, Voting Recommendations and Vote Required

The Board recommends that you vote “FOR” each of the nominees listed in proposal 1 and “FOR” proposals 2 through 8 at the 2025 AGM.

General Proposals:Vote Required:Board Recommendation:
1.Elect Each of the 11 Director Nominees.Majority of Votes CastFOR each nominee
We are asking our shareholders to elect, by separate resolutions, each of the 11 Director Nominees identified in the Proxy Statement.
2.Approve, in an Advisory, Non-binding Vote, the Compensation of the Company’s Named Executive Officers (“Say-on-Pay”).Majority of Votes CastFOR
We are asking for your approval, on an advisory, non-binding basis, of the compensation of our Named Executive Officers (“NEOs”). While our Board intends to carefully consider the shareholder vote resulting from the proposal, the final vote is advisory and will not be binding on us.
3.Approve a Non-binding Ratification of the Appointment of Ernst & Young LLP as the Independent Auditors for the Fiscal Year Ending July 3, 2026 and Binding Authorization of the Audit and Finance Committee to Set Auditors’ Remuneration.Majority of Votes CastFOR
We are asking for your ratification, in a nonbinding vote, of the appointment of Ernst & Young LLP as our independent auditors for fiscal year 2026, and to authorize, in a binding vote, the Audit and Finance Committee of the Board to set the auditors’ remuneration.
4.Approve the Amended and Restated Employee Stock Purchase Plan.Majority of Votes CastFOR
Approve the Amended and Restated Employee Stock Purchase Plan.
5.Approve the Amended and Restated 2022 Equity Incentive Plan.Majority of Votes CastFOR
Approve the Amended and Restated 2022 Equity Incentive Plan.
Irish Proposals:Vote Required:Board Recommendation:
6.Grant the Board Authority to Allot and Issue Shares.Majority of Votes CastFOR
We are asking you to grant our Board authority to allot and issue shares. Granting the Board this authority is a routine matter for public companies incorporated in Ireland. This authority is fundamental to our business and granting the Board this authority is a routine matter for public companies incorporated in Ireland.
7.Grant the Board Authority to Opt-out of Statutory Pre-emption Rights.At least 75% of Votes CastFOR
We are asking you to grant the Board authority to allot and issue shares for cash without first offering them to existing shareholders. Granting the Board this authority is a routine matter for public companies incorporated in Ireland. This authority is fundamental to our business and granting the Board this authority is a routine matter for public companies incorporated in Ireland.
8.Determine the Price Range for the Re-allotment of Treasury Shares.At least 75% of Votes CastFOR
We are asking you to authorize the price range at which we can re-allot shares held as treasury shares. Granting the Board this authority is a routine matter for public companies incorporated in Ireland. From time to time, we may acquire ordinary shares and hold them as treasury shares. We may re-allot such treasury shares, and, under Irish law, our shareholders must determine the price range at which we may re-allot any shares held in treasury.

During the meeting, management will review Seagate's affairs and will also present Seagate’s Irish statutory financial statements for Fiscal Year 2025 and the reports of the directors and statutory auditors thereon.

There is no requirement under Irish law that the Irish statutory financial statements be approved by shareholders, and no such approval will be sought at the meeting.

2SEAGATE TECHNOLOGY HOLDINGS PLC2025 Proxy Statement

Seagate’s Corporate Governance Highlights

■The Board consists of a substantial majority of independent directors (91% as of end of Fiscal Year 2025).■All directors are elected annually by shareholders.
■Directors must receive a majority of shareholder votes cast to be elected.■The independent directors meet regularly in executive sessions.
■All Board committees are composed exclusively of independent directors.■Executive officers are subject to a compensation “clawback” policy.
■Directors and executive officers are subject to share ownership requirements.■The Board oversees the Company’s enterprise risk management program, including ESG-related risks and cybersecurity.
■The Board and each Board committee perform periodic self-evaluations.■The Company maintains an anti-hedging policy for all directors and employees.
■The Board reviews and approves succession planning for the Chief Executive Officer, and also undertakes succession planning for members of the Board.■The Company maintains a policy prohibiting the pledging of Company securities by directors, executive officers and certain other employees.

2026 Annual General Meeting of Shareholders

Deadline for shareholder proposals for inclusion in the fiscal year 2026 Proxy Statement:May 12, 2026
Period for shareholder nomination of directors for election at the 2026 Annual General Meeting of Shareholders (the “2026 AGM”):April 12, 2026 to May 12, 2026

For further information, see the section entitled “Shareholder Proposals and Nominations” on page 99 of this Proxy Statement.

2025 Proxy StatementSEAGATE TECHNOLOGY HOLDINGS PLC3

Cautionary Statement Regarding Forward-Looking Statements

This Proxy Statement may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-looking statements generally can be identified by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “should,” “may,” “will,” “will continue,” “can,” “could,” or the negative of these words, variations of these words, and comparable terminology, in each case, intended to refer to future events or circumstances. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are subject to various uncertainties and risks that could cause our actual results to differ materially from historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K for Fiscal Year 2025 and in our Quarterly Reports on Form 10-Q filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based upon information available to us at this time. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law.

Incorporation by Reference

To the extent that this Proxy Statement is incorporated by reference into any other filing by us under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, the sections of this Proxy Statement entitled “Report of the Compensation and People Committee” and “Report of the Audit and Finance Committee” (to the extent permitted by the rules of the SEC) will not be deemed incorporated, unless specifically provided otherwise in that other filing. Unless explicitly stated, information contained on or accessible via our website is not incorporated by reference into this Proxy Statement or any other report we file with the SEC.

4SEAGATE TECHNOLOGY HOLDINGS PLC2025 Proxy Statement
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.