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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities and Exchange Act of 1934
(Amendment No. 4)
Seagate Technology Public Limited Company
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(Name of Issuer)
Ordinary Shares
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(Title of Class of Securities)
G7945M107
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(CUSIP Number)
Allison Bennington, Esq.
Jason Breeding, Esq.
ValueAct Capital
One Letterman Drive, Building D, Fourth Floor
San Francisco, CA 94129
(415) 362-3700
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(Name, address and telephone number of Person
Authorized to Receive Notices and Communications)
February 6, 2019
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
This information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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SCHEDULE 13D
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CUSIP NO. G7945M107 Page 2 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Master Fund, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)*
WC*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 27,295,160**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
27,295,160**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
27,295,160**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.7%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 3 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Master Fund B, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)*
WC*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 2,225,000**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
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10. SHARED DISPOSITIVE POWER
2,225,000**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,225,000**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 4 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
VA Partners I, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 29,520,160**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
29,520,160**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,520,160**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.5%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 5 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Management, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 29,520,160**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
29,520,160**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,520,160**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.5%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 6 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Capital Management, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS*
00*
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 29,520,160**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
29,520,160**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,520,160**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.5%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 7 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Holdings, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 29,520,160**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
29,520,160**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,520,160**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.5%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Items 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 8 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Holdings II, L.P.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 29,520,160**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
29,520,160**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,520,160**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.5%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Items 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 9 of 16
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ValueAct Holdings GP, LLC
---------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
-----------------------------------------------------------------------------
3. SEC USE ONLY
-----------------------------------------------------------------------------
4. SOURCE OF FUNDS*
00*
-----------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
7. SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 29,520,160**
OWNED BY EACH ----------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
----------------------------------------------------------
10. SHARED DISPOSITIVE POWER
29,520,160**
-----------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,520,160**
-----------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
-----------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.5%
-----------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Items 2 and 5
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 10 of 16
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This Amendment No. 4 supplements the information set forth in the
Schedule 13D filed by the Reporting Persons with the United States Securities
and Exchange Commission (the "SEC"), as amended from time to time (the
"Schedule 13D"), relating to the Ordinary Shares, par value $0.00001 per
share (the "Common Stock") of Seagate Technology Public Limited Company, an
Irish public limited company (the "Issuer"). All capitalized terms contained
herein but not otherwise defined shall have the meanings ascribed to such
terms in the Schedule 13D.
The information set forth in response to each separate Item below shall
be deemed to be a response to all Items where such information is relevant.
The Schedule 13D is hereby supplementally amended as follows:
Item 2. Identity and Background
This statement is filed jointly by (a) ValueAct Capital Master Fund,
L.P. ("ValueAct Master Fund"), (b) ValueAct Capital Master Fund B, L.P.
("ValueAct Fund B")(c) VA Partners I, LLC ("VA Partners I"), (d) ValueAct
Capital Management, L.P. ("ValueAct Management L.P."), (e) ValueAct Capital
Management, LLC ("ValueAct Management LLC"), (f) ValueAct Holdings, L.P.
("ValueAct Holdings"), (g) ValueAct Holdings II, L.P. ("ValueAct Holdings
II"), and (h) ValueAct Holdings GP, LLC ("ValueAct Holdings GP")
(collectively, the "Reporting Persons").
ValueAct Master Fund is a limited partnership organized under the laws
of the British Virgin Islands. ValueAct Fund B is a limited partnership
organized under the laws of the British Virgin Islands. VA Partners I is a
Delaware limited liability company, the principal business of which is to
serve as the General Partner to ValueAct Master Fund. ValueAct Management
L.P. is a Delaware limited partnership which renders management services to
ValueAct Master Fund and ValueAct Fund B. ValueAct Management LLC is a
Delaware limited liability company, the principal business of which is to
serve as the General Partner to ValueAct Management L.P. ValueAct Holdings is
a Delaware limited partnership and is the majority owner of the membership
interests of VA Partners I. ValueAct Holdings II is the sole owner of the
limited partnership interests of ValueAct Management L.P. and the membership
interests of ValueAct Management LLC. ValueAct Holdings GP is a Delaware
limited liability company, the principal business of which is to serve as the
General Partner to ValueAct Holdings and ValueAct Holdings II.
The address of the principal business and principal office of each of
the Reporting Persons is One Letterman Drive, Building D, Fourth Floor, San
Francisco, CA 94129.
(d) and (e). None of the entities or persons identified in this Item 2
has during the past five years been convicted of any criminal proceeding
(excluding traffic violations or similar misdemeanors), nor been a party to a
civil proceeding of a judicial or administrative body of competent judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 11 of 16
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Item 3. Source and Amount of Funds or Other Consideration
The source of funds used for the purchase of the Issuer's securities
reflected in this amendment was the working capital of ValueAct Fund B. The
aggregate funds used by these Reporting Persons to make such purchases were
$99,982,430.
Item 5. Interest in Securities of the Issuer
(a) and (b). Set forth below is the beneficial ownership of shares of
Common Stock of the Issuer for each person named in Item 2. Shares reported
as beneficially owned by ValueAct Master Fund or ValueAct Fund B are also
reported as beneficially owned by (i) ValueAct Management L.P. as the manager
of each such investment partnership, (ii) ValueAct Management LLC, as General
Partner of ValueAct Management L.P., (iii) ValueAct Holdings, as the majority
owner of the membership interests of VA Partners I, (iv) ValueAct Holdings
II, as the sole owner of the limited partnership interests of ValueAct
Management L.P. and the membership interests of ValueAct Management LLC, and
(v) ValueAct Holdings GP, as General Partner of ValueAct Holdings and
ValueAct Holdings II. Shares reported as beneficially owned by ValueAct
Master Fund or ValueAct Fund B are also reported as beneficially owned by VA
Partners I, as General Partner of ValueAct Master Fund and ValueAct Fund B.
VA Partners I, ValueAct Management L.P., ValueAct Management LLC, ValueAct
Holdings, ValueAct Holdings II, and ValueAct Holdings GP also, directly or
indirectly, may own interests in one or more than one of the partnerships
from time to time. Unless otherwise indicated below, by reason of such
relationship ValueAct Master Fund or ValueAct Fund B is reported as having
shared power to vote or to direct the vote, and shared power to dispose or
direct the disposition of, such shares of Common Stock, with VA Partners I
(only with respect to ValueAct Master Fund and ValueAct Fund B), ValueAct
Management L.P., ValueAct Management LLC, ValueAct Holdings, ValueAct
Holdings II, and ValueAct Holdings GP.
As of the date hereof, the Reporting Persons may be deemed to be the
beneficial owner of 29,520,160 shares of Common Stock, representing
approximately 10.5% of the Issuer's outstanding Common Stock. All percentages
set forth in this Schedule 13D are based upon the Issuer's reported
281,740,077 outstanding shares of Common Stock as of January 29, 2019 as
reported in the Issuer's Form 10-Q for the fiscal period ended December 28,
2018.
(c) The following table sets forth all transactions with respect to
shares of Common Stock effected since the last filing of this Schedule 13D by
the Reporting Persons, inclusive of any transactions effected through 4:00
p.m., New York City time, on February 8, 2019. Except as otherwise noted
below, all such transactions were purchases (or sales) of shares of Common
Stock effected in the open market.
Shares
Reporting Person Trade Date Buy/Sell Bought/Sold Price/Share
---------------- ---------- -------- --------- -----------
ValueAct Fund B 02/06/2019 Buy 750,000 $45.68 (1)
02/07/2019 Buy 750,000 $44.42 (2)
02/08/2019 Buy 725,000 $44.60 (3)
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 12 of 16
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(1) Weighted-average price at which shares were purchased (sold) on the
listed date between the range of $45.34 and $45.84 per share.
(2) Weighted-average price at which shares were purchased (sold) on the
listed date between the range of $44.39 and $44.45 per share.
(3) Weighted-average price at which shares were purchased (sold) on the
listed date between the range of $44.28 and $44.90 per share.
(d) and (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
Other than as described in this Report, the Reporting Persons have no
understandings, arrangements, relationships or contracts relating to the
Issuer's Common Stock which are required to be described hereunder.
Item 7. Material to Be Filed as Exhibits
(1) Joint Filing Agreement.
SIGNATURE
After reasonable inquiry and to the best of his knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears
below on this Schedule 13D hereby constitutes and appoints Jeffrey W. Ubben,
Bradley E. Singer, G. Mason Morfit and Jason Breeding, and each of them, with
full power to act without the other, his or its true and lawful attorney-in-
fact and agent, with full power of substitution and resubstitution, for him
or it and in his or its name, place and stead, in any and all capacities
(until revoked in writing) to sign any and all amendments to this Schedule
13D, and to file the same, with all exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, granting
unto said attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite and
necessary fully to all intents and purposes as he or it might or could do in
person, thereby ratifying and confirming all that said attorneys-in-fact and
agents or any of them, or their or his substitute or substitutes, may
lawfully do or cause to be done by virtue hereof.
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 13 of 16
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ValueAct Capital Master Fund, L.P., by
VA Partners I, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Capital Master Fund B, L.P., by
VA Partners I, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
VA Partners I, LLC
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Capital Management, L.P., by ValueAct
Capital Management, LLC its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Capital Management, LLC
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Holdings, L.P., by
ValueAct Holdings GP, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Holdings II, L.P., by
ValueAct Holdings GP, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
SCHEDULE 13D
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CUSIP NO. G7945M107 Page 14 of 16
-----------------------------------------------------------------------------
ValueAct Holdings GP, LLC
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
SCHEDULE 13D
-------------------------- -------------------------
CUSIP NO. G7945M107 Page 15 of 16
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Exhibit 1
JOINT FILING UNDERTAKING
The undersigned parties hereby agree that the Schedule 13D filed herewith
(and any amendments thereto) relating to the Common Stock of the Issuer, is
being filed jointly on behalf of each of them with the Securities and
Exchange Commission pursuant to Section 13(d) of the Securities Exchange Act
of 1934, as amended.
ValueAct Capital Master Fund, L.P., by
VA Partners I, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Capital Master Fund B, L.P., by
VA Partners I, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
VA Partners I, LLC
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Capital Management, L.P., by ValueAct
Capital Management, LLC its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Capital Management, LLC
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
SCHEDULE 13D
-------------------------- -------------------------
CUSIP NO. G7945M107 Page 16 of 16
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ValueAct Holdings, L.P., by
ValueAct Holdings GP, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Holdings II, L.P., by
ValueAct Holdings GP, LLC, its General Partner
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer
ValueAct Holdings GP, LLC
By: /s/ Bradley E. Singer
--------------------------------------
Dated: February 8, 2019 Bradley E. Singer, Chief Operating Officer