Form 8-K · Current Report · Filed 2025-02-24
Sandisk Announces Completion of Separation from Western Digital
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'.
- Filer
- SNDK SNDK
- Filed
- Accession
- 0001193125-25-033433
- CIK
- 0002023554
- Signal
- High impact
- Source
- Official filing on sec.gov ↗
Details
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.
Items reported
Entry into a Material Definitive Agreement
Creation of a Direct Financial Obligation
Material Modification to Rights of Security Holders
Changes in Control of Registrant
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Amendments to Articles of Incorporation or Bylaws
Reported Item
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$50.37
Next session
-4.4%
Since filing
+2311.8%
Latest close
$1,214.83
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from SNDK reporting the same item, with the next session's move:
Exhibits (13)
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