NTAP.NASDAQNetapp, INC

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

Sentiment:

SEC Form 4

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Michael Berry, EVP and CFO of NetApp, reports changes in beneficial ownership of NetApp common shares and restricted stock units following the vesting of restricted stock units.

Summary

  • On April 15, 2024, Michael Berry, the EVP and CFO of NetApp, engaged in transactions involving NetApp's common shares and restricted stock units.
  • Berry converted 29,220 restricted stock units into common stock.
  • Following the transaction, Berry directly owns 163,752 common shares and indirectly owns 174,129 common shares through The Berry Family Trust.
  • A disposition of 10,377 shares occurred at a price of $102.37.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing changes in beneficial ownership, which is a neutral event.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Stakeholder Impact

  • The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares.

Key Dates

DateDescription
04/15/2020Reporting person was granted 116,881 restricted stock units, vesting in four equal annual installments beginning on April 15, 2021.
04/15/2021First vesting date of restricted stock units granted on April 15, 2020.
04/15/2024Transaction date: conversion of restricted stock units to common stock and disposition of shares.
04/17/2024Date of signature for the Form 4 filing.

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