Form 4: NetApp VP, Controller & CAO Daniel De Lorenzo Sells Shares Under 10b5-1 Plan
SEC Form 4
Daniel De Lorenzo, VP, Controller & CAO of NetApp, Inc., sold 1,685 common shares at $123.60 per share on September 24, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Daniel De Lorenzo, VP, Controller & CAO of NetApp, Inc., reported a transaction involving the sale of company stock.
- On September 24, 2024, De Lorenzo sold 1,685 common shares of NetApp at a price of $123.60 per share.
- The transaction was executed under a Rule 10b5-1 trading plan adopted on June 25, 2024.
- Following the transaction, De Lorenzo continues to beneficially own NetApp securities.
Sentiment
Score: 5
Explanation: This is a neutral event. An executive selling shares under a pre-arranged plan doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
This is a routine disclosure of an insider stock sale. It's common for executives to use 10b5-1 plans to avoid accusations of trading on inside information. The sale itself is unlikely to have a significant impact on NetApp's stock price unless it signals a broader trend among insiders.
Key Dates
| Date | Description |
|---|---|
| June 25, 2024 | Date the reporting person adopted a Rule 10b5-1 trading plan |
| September 24, 2024 | Date of the transaction (stock sale) |
| September 26, 2024 | Date of the signature on the Form 4 filing |
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