NetApp VP nets 1,365 shares after RSU vesting
NetApp, Inc. VP, Controller & CAO Daniel De Lorenzo reported routine equity compensation activity.
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Form Type
4
Rhea-AI Filing Summary
NetApp, Inc. VP, Controller & CAO Daniel De Lorenzo reported routine equity compensation activity. On May 15, 2026, restricted stock units converted into 2,116 common shares. Of these, 751 shares were withheld at $119.93 per share to cover tax obligations, leaving 1,365 common shares held directly after the transactions.
Insider Trade Summary 10b5-1
2,116 shares exercised/converted
Exercise
6 txns
Insider
De Lorenzo Daniel
Role
VP, Controller & CAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 108 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit | 146 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit | 175 | $0.00 | $0.00 |
| Exercise | Restricted Stock Unit | 1,687 | $0.00 | $0.00 |
| Exercise | Common Shares | 2,116 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Shares | 751 | $119.93 | $90K |
Holdings After Transaction:
Restricted Stock Unit — 7,048 contracts (Direct);
Common Shares — 1,365 shares (Direct)
Footnotes (5)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. On July 1, 2022, the reporting person was granted 1,720 restricted stock units. Restricted stock unit awards shall vest 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.
- F3. On July 13, 2023, the reporting person was granted 2,341 restricted stock units. Restricted stock unit awards shall vest 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.
- F4. On July 1, 2024, the reporting person was granted 2,798 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares on May 15, 2025 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, 2025, the reporting person was granted 6,749 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares May 15, 2026 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
Key Figures
Shares acquired from RSU conversion: 2,116 shares
Shares withheld for taxes: 751 shares
Tax-withholding price: $119.93 per share
+3 more
6 metrics
Shares acquired from RSU conversion
2,116 shares
Common shares received on May 15, 2026
Shares withheld for taxes
751 shares
Tax-withholding disposition on May 15, 2026
Tax-withholding price
$119.93 per share
Value used for 751-share tax disposition
Direct holdings after transaction
1,365 shares
Common shares directly held following Form 4 activity
Derivative exercises
2,116 shares
Exercise or conversion of derivative securities per summary
Tax-withholding share count
751 shares
TaxWithholdingShares in transaction summary
Key Terms
Restricted stock units, tax-withholding disposition, derivative security, vesting date, +1 more
5 terms
Restricted stock units financial
"Restricted stock units convert into common stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities."
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative security financial
"Exercise or conversion of derivative security."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vesting date financial
"Subject to continued service on each applicable vesting date."
restricted stock unit awards financial
"Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares..."
Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did NetApp (NTAP) VP Daniel De Lorenzo report in this Form 4?
Daniel De Lorenzo reported routine equity compensation activity. Restricted stock units converted into 2,116 NetApp common shares, and part of these shares was withheld to satisfy tax obligations, resulting in 1,365 common shares held directly after the transactions.
Were Daniel De Lorenzo’s NetApp (NTAP) transactions open-market buys or sells?
The transactions were not open-market trades. They involved the conversion of restricted stock units into common shares and a tax-withholding disposition, where 751 shares were delivered back at $119.93 per share to satisfy tax liabilities tied to the vesting event.
What do the restricted stock unit footnotes for NetApp (NTAP) indicate?
The footnotes explain that restricted stock units convert one-for-one into NetApp common stock and detail grant and vesting schedules from 2022 through 2025. Vesting occurs initially at 25% on specific May 15 dates, then at 6.25% quarterly, subject to continued service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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