NetApp (NTAP) CFO vests RSUs and withholds 2,736 shares for taxes
Rhea-AI Filing Summary
NetApp, Inc. executive Wissam G. Jabre, EVP and CFO, exercised 5,424 restricted stock units, which converted into the same number of common shares. On the same date, 2,736 common shares were disposed of in a tax-withholding transaction at $119.93 per share to cover obligations. After these transactions, Jabre directly holds 37,804 common shares. The RSUs come from a 21,696-unit grant awarded on July 1, 2025, scheduled to vest 25% on May 15, 2026 and 6.25% quarterly thereafter, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 2,688 shares
Net Buy
3 txns
Insider
JABRE WISSAM G
Role
EVP, CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 5,424 | $0.00 | $0.00 |
| Exercise | Common Shares | 5,424 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Shares | 2,736 | $119.93 | $328K |
Holdings After Transaction:
Restricted Stock Unit — 16,272 shares (Direct);
Common Shares — 37,804 shares (Direct)
Footnotes (2)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. On July 1, 2025, the reporting person was granted 21,696 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 Exercised: 5,424 units
Tax-Withheld Shares: 2,736 shares
Tax-Withholding Price: $119.93 per share
+4 more
7 metrics
RSUs Exercised
5,424 units
Restricted stock units converted into common shares on May 15, 2026
Tax-Withheld Shares
2,736 shares
Common shares disposed of in a tax-withholding transaction at $119.93 per share
Tax-Withholding Price
$119.93 per share
Price used for the tax-withholding disposition of 2,736 common shares
Post-Transaction Holdings
37,804 shares
Direct common shares held by the CFO after the reported transactions
RSU Grant Size
21,696 units
Restricted stock units granted on July 1, 2025
Initial Vesting Portion
25%
Portion of the 21,696 RSUs scheduled to vest on May 15, 2026
Quarterly Vesting Portion
6.25%
Portion of RSUs vesting quarterly over three years after initial vest date
Key Terms
Restricted stock units, Exercise or conversion of derivative security, tax-withholding disposition, vesting
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_description: Exercise or conversion of derivative security"
tax-withholding disposition financial
"transaction_action: tax-withholding disposition of common shares to cover obligations"
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.
vesting financial
"Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did NetApp (NTAP) CFO Wissam G. Jabre report in this Form 4?
NetApp CFO Wissam G. Jabre reported exercising 5,424 restricted stock units, receiving the same number of common shares. He also disposed of 2,736 shares in a tax-withholding transaction at $119.93 per share to satisfy related obligations.
How many restricted stock units did the NetApp (NTAP) CFO exercise?
The CFO exercised 5,424 restricted stock units, converting them one-for-one into 5,424 common shares. These units are part of an earlier grant and represent the portion that vested on the reported date, subject to his continued service.
What is the vesting schedule of the NetApp (NTAP) CFO’s 21,696 RSU grant?
The CFO received 21,696 restricted stock units on July 1, 2025. 25% of the units vest on May 15, 2026, with an additional 6.25% vesting quarterly over the next three years, conditioned on his continued service.
How do NetApp (NTAP) restricted stock units convert into common stock?
NetApp restricted stock units convert into common stock on a one-for-one basis. When units vest and are exercised, each RSU delivers a single common share, subject to any tax-withholding transactions carried out to satisfy related obligations.