NetApp CAO has 743 RSUs vest, 266 shares withheld
NetApp, Inc. (NTAP) reported that officer Daniel De Lorenzo, SVP and Chief Accounting Officer, had three tranches of restricted stock units vest on August 15, 2026, converting a total of 743 common shares.
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Form Type
4
Rhea-AI Filing Summary
NetApp, Inc. (NTAP) reported that officer Daniel De Lorenzo, SVP and Chief Accounting Officer, had three tranches of restricted stock units vest on August 15, 2026, converting a total of 743 common shares. In connection with this vesting, 266 common shares were delivered or withheld to cover exercise price or tax liability, with the remaining shares retained as directly owned common stock.
Insider Trade Summary
743 shares exercised/converted
Exercise
5 txns
Insider
De Lorenzo Daniel
Role
SVP, Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit F1, F2 | 147 | -- | -- |
| Exercise | Restricted Stock Unit F1, F3 | 175 | -- | -- |
| Exercise | Restricted Stock Unit F1, F4 | 421 | -- | -- |
| Exercise | Common Shares F1 | 743 | -- | -- |
| Exercise Price or Tax Liability | Common Shares | 266 | $204.99 | $55K |
Holdings After Transaction:
Restricted Stock Unit — 6,305 contracts (Direct);
Common Shares — 1,567 shares (Direct)
Footnotes (4)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. 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.
- F3. 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.
- F4. 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
RSUs converted: 743 shares
Shares delivered/withheld for tax or exercise price: 266 shares
Price per share for tax/exercise settlement: $204.99 per share
+3 more
6 metrics
RSUs converted
743 shares
Total restricted stock units that vested and converted into common shares on August 15, 2026
Shares delivered/withheld for tax or exercise price
266 shares
Common shares used for payment of exercise price or tax liability at vesting
Price per share for tax/exercise settlement
$204.99 per share
Value used for the 266-share payment of exercise price or tax liability
2023 RSU grant size
2,341 units
RSUs granted to De Lorenzo on July 13, 2023, with 25% vesting May 15, 2024
2024 RSU grant size
2,798 units
RSUs granted on July 1, 2024, with 25% vesting May 15, 2025
2025 RSU grant size
6,749 units
RSUs granted on July 1, 2025, with 25% vesting May 15, 2026
Key Terms
restricted stock units, exercise or conversion of derivative security, Payment of exercise price or tax liability by delivering or withholding securities, Rule 10b5-1
4 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.
exercise or conversion of derivative security financial
"transaction_code "M" is described as Exercise or conversion of derivative security"
Payment of exercise price or tax liability by delivering or withholding securities financial
"transaction_code "F" is described as Payment of exercise price or tax liability by delivering or withholding securities"
Rule 10b5-1 regulatory
"aff_10b5_one is the document-level Rule 10b5-1 checkbox"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider equity activity did NTAP officer Daniel De Lorenzo report on August 15, 2026?
De Lorenzo reported vesting of 743 restricted stock units that converted into an equal number of NetApp common shares, with 266 shares delivered or withheld to satisfy exercise price or tax liability obligations.
How many NetApp (NTAP) RSUs vested for Daniel De Lorenzo in this Form 4?
A total of 743 restricted stock units vested and converted into NetApp common shares, in three tranches of 147, 175, and 421 RSUs, each converting one-for-one into common stock as disclosed.
What are the key RSU grants reported for NTAP officer Daniel De Lorenzo?
De Lorenzo received RSU grants of 2,341 units on July 13, 2023, 2,798 units on July 1, 2024, and 6,749 units on July 1, 2025, each vesting 25% on a specified May 15 date and 6.25% quarterly thereafter, subject to continued service.
Do De Lorenzo’s NetApp (NTAP) RSUs convert into common stock on a fixed basis?
Yes. The disclosure states that restricted stock units convert into common stock on a one-for-one basis, meaning each vested RSU becomes one share of NetApp common stock upon conversion, absent other adjustments.
Were the NTAP insider transactions reported as part of a Rule 10b5-1 plan?
The Rule 10b5-1 checkbox is not marked as affirmatively used in this report, and the footnotes do not describe the transactions as made pursuant to a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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