Seagate Technology — Director's Dealing 2010

Sep 15, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Seagate Technology plc (STX)
CIK: 0001137789
Period of Report: 2010-09-13

Reporting Person: O MALLEY PATRICK J (EVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-09-13	Performance Stock Shares	A	16000	$0.00	Acquired	49958.66	Direct
2010-09-13	Performance Stock Units	A	44440	$0.00	Acquired	94398.66	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-09-13	NQ Stock Options	$11.065	A	100000	Acquired	2017-09-13	Common Shares (100000)	Direct

Footnotes

F1: Consists of a grant of restricted stock shares awarded to the Reporting Person under the 2004 Stock Compensation Plan for no consideration. Each restricted stock share represents a contingent right to receive one share of Seagate common stock. Subject to the Reporting Person's Continuous Service with the Coompany, vested shares to be released to the reporting person on each of the first four anniversaries of the vesting commencement date of September 13, 2010.

F2: Consists of a grant of performance stock units awarded to the Reporting Person under the 2004 Stock Compensation Plan for no consideration. Each performance stock unit represents a contingent right to receive one share of Seagate common stock. The vesting for these awards issued under the 2004 Stock Compensation Plan is subject to both continuous employment and specified performance goals.The Award Agreement provides that performance units will vest after the end of a performance period, currently contemplated to be three years, subject to both the continued employment of the participant by the Company and the achievement of certain performance objectives established by the Board of Directors and set forth in the Award Agreement. The Board of Directors presently intends that the performance goals will be a three-year average return on invested capital goal and a relative total shareholder return percentile goal.

F3: Options granted to the Reporting Person under the 2004 Stock Compensation Plan are subject to a four-year vesting schedule. One quarter of the option shares vested on September 13, 2011. The remaining option shares are vesting proportionally each month over the 36 months following September 13, 2011.