Bernard Shek reported that 322 SanDisk shares were withheld to cover taxes, a mandatory filing the company framed as tax settlement rather than an open-market sale.
25,266 shares remained in Shek's direct holdings after the transaction, making the disclosure notable mainly because jittery investors could misread it as insider selling.
SanDisk stock fell 1.8% Friday after a broader memory-chip selloff a day earlier, driven by worries that higher AI infrastructure financing costs could curb customer spending and chip demand.
Mizuho still reiterated an Outperform rating with a $2,050 target, arguing NAND prices could stay stable through 2027 as non-China capacity remains largely unchanged.
October 29 is the next key catalyst, when SanDisk reports fiscal first-quarter 2027 results and investors can test product momentum against a weakening industry backdrop.