Form 4: NetApp CFO Michael J. Berry Sells Shares Under 10b5-1 Trading Plan

NetApp's CFO, Michael J. Berry, executed multiple sales of common stock between March 4th and March 5th, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael J. Berry, the EVP and CFO of NetApp, Inc., sold shares of NetApp common stock on March 4th and 5th, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on September 5, 2024.
• On March 4th, 2025, Berry sold 4,569 shares at a weighted average price of $93.21, 4,688 shares at $94.05, and 3,243 shares at $94.97.
• On March 5th, 2025, Berry sold 3,354 shares at a weighted average price of $93.54, 3,203 shares at $93.97, 3,660 shares at $95.15, and 2,283 shares at $95.73.
• The sales were conducted to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following these transactions, Berry directly owns no shares, but indirectly owns shares through The Berry Family Trust.
• The number of shares held indirectly by The Berry Family Trust decreased after each sale.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales by an executive under a pre-existing trading plan. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Sales by executives are a normal part of compensation and portfolio management. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any inside information.

Key Dates

Keywords

Form 4, NetApp, NTAP, Michael J. Berry, CFO, Stock Sale, Rule 10b5-1, Insider Trading