Form 4: NetApp CFO Michael Berry Reports Stock Transactions

NetApp's CFO, Michael Berry, reported the acquisition of shares through restricted stock unit vesting and the disposition of shares to cover tax obligations.

Summary

• Michael Berry, the EVP and CFO of NetApp, Inc., reported several transactions involving NetApp common shares and restricted stock units.
• On November 15, 2024, Mr. Berry acquired 3,956 common shares through the vesting of restricted stock units.
• Also on November 15, 2024, 1,554 common shares were disposed of at a price of $117.21 per share to cover tax obligations.
• These transactions resulted in Mr. Berry beneficially owning 177,224 shares indirectly through The Berry Family Trust and 175,670 shares indirectly through The Berry Family Trust after the transactions.
• The report also details the vesting schedules of restricted stock units granted to Mr. Berry in 2021, 2022, and 2023.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions by an executive, and does not contain any information that would be considered positive or negative for the company's outlook.

Industry Context

This is a routine filing for a corporate executive and is typical for companies that use stock-based compensation.

Comparison to Industry Standards

• Stock-based compensation is a common practice among technology companies like NetApp, and the vesting schedules and reporting requirements are standard.
• Other companies such as IBM, HP, and Dell also use restricted stock units as part of their compensation packages for executives.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.

Key Dates

Keywords

NetApp, Michael Berry, CFO, stock transaction, restricted stock units, share vesting, insider trading, Form 4