Form 4: NetApp VP Controller Reports Stock Transactions
Statement of Changes in Beneficial Ownership
NetApp VP, Controller & CAO Daniel De Lorenzo reported transactions involving restricted stock units and common shares.
Summary
- Daniel De Lorenzo, VP, Controller & CAO of NetApp, Inc., reported several transactions on May 15, 2026.
- These transactions involved the acquisition of 2,116 common shares and the disposition of 751 common shares at a price of $119.93 per share.
- Additionally, De Lorenzo acquired a total of 2,117 restricted stock units (RSUs) through various grants, which convert to common stock on a one-for-one basis.
- The RSUs were granted on July 1, 2022 (1,720 units), July 13, 2023 (2,341 units), July 1, 2024 (2,798 units), and July 1, 2025 (6,749 units).
- Vesting schedules for these RSUs vary, with initial vesting dates ranging from May 15, 2023, to May 15, 2026, followed by quarterly vesting over three years.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, as it primarily details routine executive stock transactions and equity award vesting schedules, with no significant positive or negative financial disclosures.
Positives
- Acquisition of 2,116 common shares by a key executive.
- Restricted stock units granted indicate ongoing equity-based compensation and alignment with company performance.
- The executive's continued participation in equity awards suggests confidence in the company's future.
Negatives
- Disposition of 751 common shares by a key executive.
Future Outlook
The filing details vesting schedules for restricted stock units granted between 2022 and 2025, indicating future potential equity awards and conversions to common stock over the next three years, subject to continued service.
Industry Context
StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions. The details of RSU grants and vesting schedules are typical components of executive compensation packages in the technology sector, reflecting long-term incentive structures.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney | Daniel De Lorenzo granted power of attorney to specific individuals to execute SEC filings on his behalf. | 05/14/2026 | Facilitates timely and efficient compliance with Section 16 reporting requirements. |
Stakeholder Impact
- Shareholders: The disposition of shares by an executive may be noted, but the overall impact is minimal without further context on the scale of holdings or reasons for sale. The RSU grants reinforce long-term alignment.
- Employees: The RSU vesting schedules indicate continued employee incentive programs.
- Management: The transactions reflect standard executive compensation and equity management practices.
Next Steps
- Continued vesting of restricted stock units as per the outlined schedules.
- Potential future transactions by Daniel De Lorenzo based on vesting and personal financial planning.
Key Dates
| Date | Description |
|---|---|
| 05/15/2026 | Earliest transaction date reported. |
| 05/14/2026 | Date of Power of Attorney execution. |
| 05/19/2026 | Date of signature on the filing. |
Keywords
NetApp, NTAP, Form 4, Insider Trading, Stock Transaction, Restricted Stock Units, Executive Compensation, Securities Exchange Act
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