Daniel De Lorenzo - Nov 15, 2024 Form 4 Insider Report for NetApp, Inc. (NTAP)

Role
VP, Controller & CAO
Signature
/s/ Michael Schultz, Attorney-in-Fact for Daniel De Lorenzo
Stock symbol
NTAP
Transactions as of
Nov 15, 2024
Transactions value $
-$58,563
Form type
4
Date filed
11/19/2024, 06:13 PM
Previous filing
Sep 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NTAP Common Shares Options Exercise +499 499 Nov 15, 2024 Direct F1
transaction NTAP Common Shares Tax liability -$20.3K -173 -34.67% $117.21 326 Nov 15, 2024 Direct
transaction NTAP Common Shares Sale -$38.3K -326 -100% $117.44 0 Nov 18, 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NTAP Restricted Stock Unit Options Exercise -175 -33.33% 350 Nov 15, 2024 Common Shares 175 Direct F1, F3
transaction NTAP Restricted Stock Unit Options Exercise -70 -20.11% 278 Nov 15, 2024 Common Shares 70 Direct F1, F4
transaction NTAP Restricted Stock Unit Options Exercise -108 -14.34% 645 Nov 15, 2024 Common Shares 108 Direct F1, F5
transaction NTAP Restricted Stock Unit Options Exercise -146 -9.07% 1.46K Nov 15, 2024 Common Shares 146 Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 25, 2024.
F3 On July 1, 2021, the reporting person was granted 2,800 restricted stock units, vesting as to twenty-five percent (25%) of the shares on May 15, 2022 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
F4 On November 15, 2021, the reporting person was granted 1,110 restricted stock units, vesting as to twenty-five percent (25%) of the shares on November 15, 2022 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
F5 On July 1, 2022, the reporting person was granted 1,720 restricted stock units, vesting as to twenty-five percent (25%) of the shares on May 15, 2023 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
F6 On July 13, 2023, the reporting person was granted 2,341 restricted stock units, vesting as to twenty-five percent (25%) of the shares on May 15, 2024 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.