Form 4: NetApp EVP, CFO Michael J. Berry Reports Stock Transactions

Michael J. Berry, EVP and CFO of NetApp, Inc., reports acquisition and disposal of common shares, including settlement of performance stock units.

Summary

• Michael J. Berry, the EVP and CFO of NetApp, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On May 16, 2024, Berry acquired 45,395 common shares through the settlement of TSR performance stock units originally granted on July 1, 2021.
• On the same day, Berry also had 17,862 common shares disposed of at a price of $109.75.
• Following these transactions, Berry directly owns 195,969 common shares and indirectly owns 213,831 shares through The Berry Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the tech industry. It provides transparency to investors regarding the executive's stake in the company.

Comparison to Industry Standards

• Executive stock transactions are a common occurrence in publicly traded companies, particularly in the technology sector.
• Companies like Cisco, IBM, and Hewlett Packard Enterprise also have executives who regularly report stock transactions via Form 4 filings.
• The size and frequency of these transactions can vary based on individual compensation packages and company performance.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.
• It can influence investor sentiment depending on the nature and size of the transactions.

Key Dates