Sandisk Announces Completion of Separation from Western Digital

Summary

On February 21, 2025, Sandisk Corporation completed its separation from Western Digital Corporation (WDC) and became an independent public company trading on the Nasdaq Stock Market under the ticker symbol 'SNDK'. The separation involved a pro rata distribution of Sandisk's shares to WDC stockholders, along with the execution of multiple agreements governing various aspects of the spin-off, including transition services, tax matters, employee matters, intellectual property, trademarks, and stockholder rights. Additionally, Sandisk entered into a $2 billion term loan agreement and made a $1.5 billion dividend payment to WDC. The separation also resulted in changes to Sandisk's board of directors, executive officers, and corporate governance documents.