Form 4: NetApp Executive Harvinder S Bhela Reports Acquisition of Restricted Stock Units
SEC Filing Form 4
EVP, Chief Product Officer of NetApp, Harvinder S Bhela, reports the acquisition of 13,195 restricted stock units on July 1, 2024.
Summary
- Harvinder S Bhela, EVP, Chief Product Officer of NetApp, filed a Form 4 on July 3, 2024.
- The report details a transaction on July 1, 2024, where Bhela acquired 13,195 restricted stock units (RSUs).
- These RSUs convert into common stock on a one-for-one basis.
- The RSUs vest as to 25% on May 15, 2025, and then 1/16th (6.25%) quarterly for the subsequent three years, contingent upon continued service.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation, and does not inherently indicate positive or negative sentiment.
Future Outlook
The restricted stock units will continue to vest quarterly after the initial vesting date of May 15, 2025, subject to continued service.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The vesting of restricted stock units aligns the executive's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 07/01/2024 | Date of transaction: Harvinder S Bhela acquired 13,195 restricted stock units. |
| 07/03/2024 | Date of Form 4 filing. |
| 05/15/2025 | First vesting date: 25% of the restricted stock units vest. |
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