Form 4: NetApp EVP, CFO Michael Berry Reports Changes in Beneficial Ownership

Michael Berry, EVP and CFO of NetApp, reports changes in beneficial ownership of NetApp stock due to the vesting of restricted stock units and a disposition of shares to cover tax obligations.

Summary

• Michael Berry, the EVP and CFO of NetApp, filed a Form 4 detailing changes in his beneficial ownership of NetApp securities.
• On June 1, 2024, 7,625 restricted stock units vested and converted into common stock.
• Berry disposed of 3,000 shares at a price of $120.43 to cover tax obligations related to the vesting of the restricted stock units.
• Following these transactions, Berry directly owns 200,869 shares and indirectly owns 203,869 shares through The Berry Family Trust.
• The reported transactions include shares purchased under the NetApp Employee Stock Purchase Plan on May 31, 2024.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing reflecting standard executive compensation practices; it doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing indicates the executive's transactions related to vested stock awards and tax obligations.

Stakeholder Impact

• The transactions reported in this filing have a minimal direct impact on stakeholders, as they reflect routine executive compensation activities.

Key Dates