Form 4: NetApp Director T. Michael Nevens Executes Stock Sales Under 10b5-1 Plan

T. Michael Nevens, a director at NetApp, Inc., sold common shares on June 21, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On June 21, 2024, T. Michael Nevens, a director of NetApp, Inc., executed multiple sales of common shares.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on March 21, 2024.
• The transactions involved sales at weighted average prices ranging from $126.53 to $127.88.
• Nevens sold 333 shares directly at $126.53, 1,802 shares directly at $127.12 and 1,199 shares directly at $127.88.
• Following these transactions, Nevens directly owns no common shares and indirectly owns 11,455 shares through The Nevens Family 1997 Trust.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock sales by a company director under a pre-existing trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by company directors are a common occurrence and are often pre-planned to avoid accusations of insider trading. Rule 10b5-1 plans allow insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders due to the increased supply of shares in the market.

Key Dates