Form 4: NetApp EVP, CFO Michael J. Berry Sells Shares Under 10b5-1 Trading Plan

Michael J. Berry, EVP and CFO of NetApp, Inc., executed multiple sales of common stock on January 7th and 8th, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Michael J. Berry, the EVP and CFO of NetApp, Inc., reported the sale of NetApp common stock on January 7th and 8th, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on September 5, 2024.
• On January 7, 2025, Berry sold 1,615 shares at a weighted average price of $116.76, 5,996 shares at $117.62, and 4,889 shares at $118.36.
• On January 8, 2025, Berry sold 4,493 shares at a weighted average price of $116.27 and 8,007 shares at $117.22.
• Following these transactions, Berry directly owns no shares, but indirectly owns 135,743 shares through The Berry Family Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, reporting stock sales by an executive. It is neutral in tone and doesn't inherently indicate positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of trading on non-public information. The market typically views these sales in the context of the overall health and prospects of the company.

Stakeholder Impact

• Shareholders may interpret the stock sales in various ways, potentially affecting investor confidence.
• The impact on employees, customers, suppliers, and creditors is likely minimal, as this is a personal financial transaction of an executive.

Key Dates