Sec Form 4 Filing - DEXHEIMER BRIAN S @ SEAGATE TECHNOLOGY - 2008-09-12

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
DEXHEIMER BRIAN S
2. Issuer Name and Ticker or Trading Symbol
SEAGATE TECHNOLOGY [ STX]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President, Consumer Solutions
(Last) (First) (Middle)
920 DISC DRIVE, ATTN: STOCK PLAN ADMINISTRATION
3. Date of Earliest Transaction (MM/DD/YY)
09/12/2008
(Street)
SCOTTS VALLEY, CA95067
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 09/12/2008 A 5,000 ( 1 ) A $ 0 508,331 D
Common Shares 30,000 I 2004 Dexheimer Family Dynasty Trust ( 2 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
NQ Stock Options $ 13.73 09/12/2008 A 60,000 09/12/2009( 3 ) 09/12/2015 Common Shares 60,000 $ 0 60,000 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
DEXHEIMER BRIAN S
920 DISC DRIVE
ATTN: STOCK PLAN ADMINISTRATION
SCOTTS VALLEY, CA95067
President, Consumer Solutions
Signatures
/S/ Roberta S. Cohen for Brian S. Dexheimer 09/16/2008
Signature of Reporting Person Date
Explanation of Responses:
( 1 )These awards are subject to continuous employment and performance vesting requirements and were issued on September 12, 2008 under the 2004 Stock Compensation Plan. First vesting is one year after the award date and subject to meeting specified performance criteria. Further vesting is annual for the following 3 years thereafter according to specific performance requirements.The vesting for these awards issued under the 2004 Stock Compensation Plan is subject to both continuous employment and specified performance goals. The earliest possible vesting is 25% annually over four years, however, depending on the timing of the achievement of specified performance goals, the grantee has up to seven years to completely vest in the award. Part or all of the award will not be vested if the employment ends prior to complete vesting or if the performance goal is not achieved as of the last vesting opportunity.
( 2 )On April 25, 2006, 30,000 shares were transferred from Brian Dexheimer's Generation Skipping Trust to the South Dakota Cmpany LLC Trustee FBO 2004 Dexheimer Family Dynasty Trust.
( 3 )Options granted to the Reporting Person under the Seagate Technology's 2004 Stock Compensation Plan are subject to a four-year vesting schedule. After one year of continuous employment, one quarter of the option shares vest will vest on September 12, 2009. Following continuous employment, the remaining three quarters will vest proportionally monthly over the 36 months thereafter from September 12, 2009.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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