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

Michael J. Berry, EVP and CFO of NetApp, Inc., filed a Form 4 disclosing changes in his beneficial ownership of company stock due to the vesting of restricted stock units.

Summary

• On August 15, 2024, Michael J. Berry, the EVP and CFO of NetApp, Inc., reported changes in his beneficial ownership of NetApp common shares.
• These changes involve the vesting of restricted stock units (RSUs) and a disposition of shares to cover tax obligations.
• Berry indirectly owns 189,822 shares through The Berry Family Trust.
• He also directly owns 188,268 shares after a transaction where 1,554 shares were disposed of at a price of $131.43.
• The transactions involved the vesting of 1,437 RSUs granted on July 1, 2021, 1,262 RSUs granted on July 1, 2022, and 1,254 RSUs granted on July 13, 2023.
• These RSUs convert into common stock on a one-for-one basis and vest quarterly after an initial vesting period.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. It is common for executives to receive stock-based compensation and periodically sell shares to cover tax liabilities or diversify their holdings.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.

Key Dates