Form 4: NetApp EVP and CFO Michael J. Berry Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Michael J. Berry, EVP and CFO of NetApp, Inc., executed multiple sales of common shares on February 4th and 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 the company's common stock on February 4th and 5th, 2025.
- The sales were executed under a Rule 10b5-1 trading plan adopted on September 5, 2024.
- On February 4, 2025, Berry sold 1,721 shares at an average price of $119.37, 4,383 shares at an average price of $120.59 and 6,396 shares at an average price of $121.22.
- On February 5, 2025, Berry sold 2,200 shares at an average price of $121.54, 5,692 shares at an average price of $122.50 and 4,608 shares at an average price of $123.32.
- Following these transactions, Berry indirectly owns 110,743 to 134,022 shares through The Berry Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock sales by an executive. It is neutral in tone and does not contain information that would significantly impact sentiment positively or negatively.
Risks
- Executive stock sales can sometimes be perceived negatively by investors, although sales under a 10b5-1 plan are typically less concerning as they are pre-planned.
Future Outlook
The document does not contain any forward-looking statements regarding the company's future performance.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects. Sales under a 10b5-1 plan are generally viewed as less indicative of management sentiment than discretionary sales.
Stakeholder Impact
- The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
Key Dates
| Date | Description |
|---|---|
| 2024-09-05 | Date of adoption of Rule 10b5-1 trading plan |
| 2025-02-04 | Date of first stock sale |
| 2025-02-05 | Date of second stock sale |
| 2025-02-06 | Date of Form 4 filing |
Keywords
Form 4, NetApp, NTAP, Michael J. Berry, CFO, Stock Sale, Rule 10b5-1, Insider Trading
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