Form 4: NetApp EVP's Routine Stock Transactions
Insider Transaction Report
NetApp's EVP, Chief Administrative Officer, Elizabeth M. O'Callahan, reported the vesting of restricted stock units and a subsequent sale of shares for tax withholding purposes.
Summary
- Elizabeth M. O'Callahan, Executive Vice President and Chief Administrative Officer of NetApp, Inc. (NTAP), reported transactions on August 15, 2025.
- Acquired 2,750 common shares through the conversion of restricted stock units (RSUs).
- Disposed of 1,373 common shares at a price of $108.79 per share. This disposition was to cover tax liabilities associated with the RSU vesting.
- Following these transactions, O'Callahan directly beneficially owns 24,628 common shares.
- The acquired shares originated from three separate restricted stock unit grants dated July 1, 2022, July 13, 2023, and July 1, 2024, which vested according to their pre-determined schedules.
Sentiment
Score: 5
Explanation: The filing reports routine, non-discretionary transactions related to executive compensation (RSU vesting and tax-related sales), which typically have a neutral impact on sentiment.
Positives
- The transactions reflect the routine vesting of previously granted restricted stock units, indicating continued long-term incentive alignment between management and shareholders.
- The acquisition of shares through RSU conversion increases the executive's direct ownership in the company, reinforcing alignment with shareholder interests.
Negatives
- A portion of the vested shares (1,373 shares) was sold to cover tax obligations, which is a common and non-discretionary practice and not indicative of a negative outlook or discretionary sale.
Stakeholder Impact
- Shareholders: The report provides transparency on executive stock ownership and compensation practices, which can be viewed positively as it aligns executive interests with shareholder value.
- Employees: The report details executive compensation, which can indirectly influence employee perception of compensation structures within the company.
Key Dates
| Date | Description |
|---|---|
| 2022-07-01 | Grant date for 16,758 restricted stock units to Elizabeth M. O'Callahan. |
| 2023-05-15 | First vesting date (25%) for the July 1, 2022 RSU grant. |
| 2023-07-13 | Grant date for 16,058 restricted stock units to Elizabeth M. O'Callahan. |
| 2024-05-15 | First vesting date (25%) for the July 13, 2023 RSU grant. |
| 2024-07-01 | Grant date for 11,195 restricted stock units to Elizabeth M. O'Callahan. |
| 2025-05-15 | First vesting date (25%) for the July 1, 2024 RSU grant. |
| 2025-08-15 | Transaction date for RSU conversions and share disposition for tax withholding. |
| 2025-08-19 | Date the Form 4 was signed. |
Keywords
NetApp, NTAP, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Executive Compensation, Elizabeth M O'Callahan, Common Shares
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