George Kurian - 15 Nov 2024 Form 4 Insider Report for NetApp, Inc. (NTAP)

Role
CEO, Director
Signature
/s/ Michael Schultz, Attorney-in-Fact for George Kurian
Issuer symbol
NTAP
Transactions as of
15 Nov 2024
Net transactions value
-$1,473,354
Form type
4
Filing time
19 Nov 2024, 18:14:15 UTC
Previous filing
23 Oct 2024
Next filing
03 Dec 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NTAP Common Shares Options Exercise +8,017 +2.7% 300,795 15 Nov 2024 Direct F1
transaction NTAP Common Shares Tax liability $470,364 -4,013 -1.3% $117.21 296,782 15 Nov 2024 Direct
transaction NTAP Common Shares Sale $385,203 -3,280 -1.1% $117.44 293,502 18 Nov 2024 Direct F2, F3
transaction NTAP Common Shares Sale $617,787 -5,220 -1.8% $118.35 288,282 18 Nov 2024 Direct F2, F4

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 -2,256 -33% 4,513 15 Nov 2024 Common Shares 2,256 Direct F1, F5
transaction NTAP Restricted Stock Unit Options Exercise -2,876 -14% 17,254 15 Nov 2024 Common Shares 2,876 Direct F1, F6
transaction NTAP Restricted Stock Unit Options Exercise -2,885 -9.1% 28,855 15 Nov 2024 Common Shares 2,885 Direct F1, F7
* 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 December 19, 2023.
F3 The price in Column 4 is a weighted average price of all sales by the reporting person on the transaction date within a one dollar range. The prices actually received ranged from $117.09 to $117.99. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
F4 The price in Column 4 is a weighted average price of all sales by the reporting person on the transaction date within a one dollar range. The prices actually received ranged from $118.05 to $118.64. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
F5 On July 1, 2021, the reporting person was granted 36,100 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares 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.
F6 On July 1, 2022, the reporting person was granted 46,010 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares 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.
F7 On July 13, 2023, the reporting person was granted 46,166 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares 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.