Form 4: NetApp Executive Cesar Cernuda Reports Stock Transactions
SEC Form 4 Filing
President Cesar Cernuda of NetApp, Inc. reports the vesting and subsequent sale of restricted stock units.
Summary
- On February 15, 2025, Cesar Cernuda, President of NetApp, Inc., reported transactions involving NetApp's common shares and restricted stock units.
- Cernuda exercised options to convert 5,952 restricted stock units into common stock.
- He then disposed of 1,427 common shares to cover tax obligations at a price of $119.06 per share.
- Following these transactions, Cernuda directly owns 31,624 common shares.
- He also holds 27,860 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock-based compensation. It provides transparency into the trading activities of company insiders.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| July 1, 2021 | Reporting person was granted 35,700 restricted stock units. |
| May 15, 2022 | 25% of the 2021 restricted stock units vested. |
| July 1, 2022 | Reporting person was granted 31,422 restricted stock units. |
| May 15, 2023 | 25% of the 2022 restricted stock units vested. |
| July 13, 2023 | Reporting person was granted 28,101 restricted stock units. |
| May 15, 2024 | 25% of the 2023 restricted stock units vested. |
| February 15, 2025 | Cesar Cernuda exercised options and sold shares. |
| February 20, 2025 | Date of Form 4 filing. |
Keywords
NetApp, Cesar Cernuda, Stock Options, Form 4, Restricted Stock Units, Insider Trading, NTAP
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