Introducing Tokenized Sandisk ($SNDK)

Today, Backpack introduces tokenized Sandisk ($SNDK) on Solana. Each $SNDK token is redeemable 1:1 for a real Sandisk share through Backpack Securities. $SNDK follows SpaceX ($SPCX) and Micron Technology ($MU) as a tokenized security on Backpack.

Official token address: SNDKbwMUQvZhnLnxLduradgLHG5KrPuKwpnrkkGRhfH. Always verify before trading.

Investors can hold Sandisk shares through established brokerage infrastructure, convert them into tokenized securities on Solana, and redeem them back into the corresponding security entitlement through Backpack Securities. This two-way door between traditional securities and blockchain networks gives investors access to both markets from a single platform.

About Sandisk

Sandisk is an American flash memory and storage company headquartered in Milpitas, California. The company designs and manufactures solid-state drives, memory cards, USB flash drives, and embedded storage products, serving consumer, client, gaming, automotive, and data center markets. Sandisk was founded in 1988, acquired by Western Digital in 2016, and spun off as an independent public company in February 2025. It employs more than 10,000 people worldwide. Sandisk trades on Nasdaq under the ticker SNDK and is a member of the Nasdaq-100 Index.

Two ways to hold $SNDK

Sandisk shares on Backpack can be held in one of two forms.

Traditional Securities on Backpack: Real security entitlements governed under New York law (UCC Article 8), supported by established brokerage, clearing, custody, and transfer infrastructure, with real ownership rights including cash dividends, corporate actions, brokerage transfers, and applicable tax treaty benefits.

Tokenized Securities Issued by Backpack: Self-custodied tokenized securities on Solana with 24/7 trading, wallet-to-wallet transfers, DeFi compatibility.

Move between the two forms

The two forms are connected through a seamless, two-way door. Seamlessly convert traditional securities into tokenized securities and vice versa through Backpack Securities deposits and withdrawals. On/off-ramp securities between traditional brokerages and Solana.

The process is designed to be as straightforward as depositing or withdrawing a stablecoin between a wallet and an exchange.

Dividends and corporate actions

Dividends and corporate actions are supported across both ownership models.

• For securities held through Backpack Securities, cash dividends and corporate actions are processed through traditional brokerage infrastructure.
• For tokenized securities, dividend payouts are automatically reinvested into additional tokenized shares, while applicable corporate actions are reflected through proportional token balance adjustments designed to maintain economic equivalence with the underlying security.

Tokenized $SNDK Issued by Backpack vs. Typical Tokenized Stock

Most tokenized stocks on the market stop at tracking the price. Tokenized securities issued by Backpack go further: each token is redeemable 1:1 for the real underlying security.

The descriptions provided herein are for informational purposes only. For details, please see the Backpack Securities Terms of Service, available in the User Agreement.