Western Digital 1999 Annual Report Download - page 22

Bowne Conversion 17
Mahlin Associates, a supplier of electromechanical components in Singapore. Mr. Shakeel rejoined the Company in April 1999 as
Senior Vice President of Operations, Drive Products Division. He was promoted to his current position in July 1999.
Mr. Michael Williams joined the Company in September 1998 as General Manager, Enterprise Storage Group. He assumed his
current position in February 1999. Prior to joining the Company, he was a founder and served as Vice President, Engineering, of Ridge
Technologies, a manufacturer of enterprise-class storage systems and subsidiary of Adaptec, from July 1997. Ridge Technologies was
the predecessor to Connex, Inc. Prior to this, Mr. Williams served in various engineering and management positions at Apple Computer
for 10 years.
Mr. Cornelius joined the Company in his current position in January 1995. Prior to joining the Company, he held the position of Vice
President of Corporate Affairs for Nissan North America for two years.
Mr. Van Berkel joined the Company in January 1995 as Director of Human Resources for the Personal Storage Division and was
promoted to his current position in May 1997. Prior to joining the Company, he served as Vice President of Human Resources for
Walker Interactive Systems for five years.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
Western Digital's common stock is listed on the New York Stock Exchange ("NYSE") under the symbol "WDC." The approximate
number of holders of record of common stock of the Company as of September 17, 1999 was 3,874.
The Company has not paid any cash dividends on its common stock and does not intend to pay any cash dividends on common
stock in the foreseeable future. The Company's line of credit agreement prohibits the payment of such dividends.
The high and low sales prices of the Company's common stock, as reported by the NYSE, for each quarter of 1998 and 1999 are as
follows:
First Second Third Fourth
1998
High ................................ $54 3/4 $ 49 9/16 $ 20 7/16 $ 22 1/16
Low................................. 30 5/8 14 1/2 14 3/4 10 1/4
1999
High ................................ $13 1/2 $ 18 9/16 $ 21 7/16 $ 9 7/8
Low................................. 87 1/8 8 1/2 6 1/4
On February 1, 1999, the Company's wholly owned subsidiary, Western Digital Rochester, Inc., merged with and into Connex,
whereby Connex was the surviving corporation and all previously issued and outstanding shares of Connex were canceled and
exchanged for common stock of the Company. This resulted in an aggregate of 575,662 shares of common stock of the Company being
issued to the shareholders of Connex. This transaction was undertaken in reliance upon the exemption from the registration
requirements of the Securities Act of 1933, as amended (the "Securities Act"), afforded by Section 4(2) thereof, as a transaction not
involving a public offering. The recipients of the Company's common stock received in connection with the Connex transaction
acquired them for their own account and not with a view to any distribution thereof to the public. The certificates evidencing this
common stock bear restrictive legends stating that the shares may not be offered, sold or transferred other than pursuant to an
effective registration statement under the Securities Act or an exemption from such registration requirements. The Company believes
that exemptions other than those specified above may exist with respect to the transaction set forth above.
Item 6. Selected Financial Data
Financial Highlights
Years Ended
July 1,
1995
June 29,
1996
June 28,
1997
June 27,
1998
July 3,
1999