Form 4: NetApp CEO George Kurian Reports Stock Transactions
SEC Form 4 Filing
NetApp CEO George Kurian reports the vesting and conversion of restricted stock units into common shares, along with a related disposition of shares to cover tax obligations.
Summary
- George Kurian, CEO of NetApp, reported transactions involving NetApp's common shares and restricted stock units on May 15, 2025.
- The transactions involved the conversion of restricted stock units into common stock and the disposition of some shares to satisfy tax obligations.
- Specifically, 16,015 common shares were acquired through the conversion of restricted stock units.
- Additionally, 8,002 common shares were disposed of at a price of $99.82 to cover tax liabilities.
- Following these transactions, Kurian directly owns 257,778 common shares.
- The remaining restricted stock units beneficially owned following the reported transactions are 11,503, 23,084, and 23,991.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding insider transactions.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- The vesting schedules and terms described are typical for technology companies like NetApp.
- Similar transactions are regularly reported by executives at comparable companies such as Pure Storage, Dell, and Hewlett Packard Enterprise.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- They provide transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| July 1, 2021 | Reporting person was granted 36,100 restricted stock units. |
| May 15, 2022 | First vesting date (25%) for restricted stock units granted on July 1, 2021. |
| July 1, 2022 | Reporting person was granted 46,010 restricted stock units. |
| May 15, 2023 | First vesting date (25%) for restricted stock units granted on July 1, 2022. |
| July 13, 2023 | Reporting person was granted 46,166 restricted stock units. |
| May 15, 2024 | First vesting date (25%) for restricted stock units granted on July 13, 2023. |
| July 1, 2024 | Reporting person was granted 31,988 restricted stock units. |
| May 15, 2025 | Transactions reported: conversion of restricted stock units and disposition of shares for tax obligations; First vesting date (25%) for restricted stock units granted on July 1, 2024. |
| May 19, 2025 | Date of signature for the Form 4 filing. |
Keywords
NetApp, George Kurian, stock transactions, restricted stock units, common shares, Form 4, insider trading
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