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NetApp (NTAP) CEO Kurian exercises RSUs as 9,326 shares withheld for taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

NetApp, Inc. CEO George Kurian reported routine equity compensation activity. On May 15, 2026, he exercised restricted stock units to acquire 18,489 Common Shares at a stated price of $0.0000 per share through derivative exercises.

As part of the same event, 9,326 Common Shares were disposed of in a tax-withholding transaction at $119.93 per share to cover obligations. Following these transactions, his directly held Common Shares are reported at 354,789 shares, reflecting an ongoing equity stake in NetApp.

Positive

  • None.

Negative

  • None.
Insider Kurian George
Role CEO
Type Security Shares Price Value
Exercise Restricted Stock Unit 2,876 $0.00 --
Exercise Restricted Stock Unit 2,886 $0.00 --
Exercise Restricted Stock Unit 2,000 $0.00 --
Exercise Restricted Stock Unit 10,727 $0.00 --
Exercise Common Shares 18,489 $0.00 --
Tax Withholding Common Shares 9,326 $119.93 $1.12M
Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct, null); Common Shares — 364,115 shares (Direct, null)
Footnotes (1)
  1. Restricted stock units convert into common stock on a one-for-one basis. 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. 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. On July 1, 2024, the reporting person was granted 31,988 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares 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. On July 1, 2025, the reporting person was granted 42,909 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.
RSU-derived shares acquired 18,489 shares Common Shares from derivative exercises on May 15, 2026
Tax-withholding shares 9,326 shares Disposed at $119.93 per share to cover tax obligations
Tax-withholding price $119.93/share Price per Common Share in tax-withholding disposition
Direct holdings after transactions 354,789 shares Common Shares directly owned following Form 4 transactions
Derivative exercise transactions 4 transactions Count of derivative exercises in summary on May 15, 2026
Total derivative exercise shares 18,489 shares ExerciseShares in transaction summary
Tax-withholding count 1 transaction TaxWithholdingCount in transaction summary
Restricted stock unit financial
"Restricted stock units convert into common stock on a one-for-one basis."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
tax-withholding disposition financial
"transaction_action: tax-withholding disposition for 9,326 Common Shares."
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 exercise/conversion financial
"transaction_action: derivative exercise/conversion for RSU-related transactions."
Common Shares financial
"security_title: Common Shares involved in acquisition and tax withholding."
Common shares are the basic units of ownership in a company that give holders a claim on profits and a right to vote on key matters, like electing the board. Think of them as membership cards in a club: they let you share in successes and losses, but in a bankruptcy or liquidation they are paid after creditors and preferred shareholders, so their value can swing more and matters for assessing risk and potential return.
vesting financial
"Restricted stock unit awards shall vest as to twenty-five percent of the shares and 1/16th quarterly thereafter."
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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a 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). See Instruction 10.
1. Name and Address of Reporting Person*
Kurian George
(Last)(First)(Middle)
3060 OLSEN DRIVE
(Street)
SAN JOSE CALIFORNIA 95128
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
NetApp, Inc. [ NTAP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Shares05/15/2026M18,489A(1)364,115D
Common Shares05/15/2026F9,326D$119.93354,789D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit(1)05/15/2026M2,876 (2) (2)Common Shares2,876(1)0D
Restricted Stock Unit(1)05/15/2026M2,886 (3) (3)Common Shares2,886(1)11,542D
Restricted Stock Unit(1)05/15/2026M2,000 (4) (4)Common Shares2,000(1)15,994D
Restricted Stock Unit(1)05/15/2026M10,727 (5) (5)Common Shares10,727(1)32,182D
Explanation of Responses:
1. Restricted stock units convert into common stock on a one-for-one basis.
2. 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.
3. 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.
4. On July 1, 2024, the reporting person was granted 31,988 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares 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.
5. On July 1, 2025, the reporting person was granted 42,909 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.
/s/ Dena Acevedo, Attorney-in-Fact for George Kurian05/19/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did NetApp (NTAP) CEO George Kurian report in this Form 4?

George Kurian reported routine equity compensation activity. He exercised restricted stock units into 18,489 NetApp Common Shares and had 9,326 shares withheld to cover tax obligations, while continuing to hold a substantial direct share position after the transactions.

How many NetApp (NTAP) shares did the CEO acquire through derivative exercises?

The CEO acquired 18,489 NetApp Common Shares through derivative exercises. These resulted from restricted stock units converting into common stock on a one-for-one basis, as described in the filing’s footnotes detailing the structure and vesting of his equity awards.

Why were 9,326 NetApp (NTAP) shares disposed of in this Form 4?

The 9,326 shares were disposed of as a tax-withholding transaction. This means shares were delivered to cover tax liabilities tied to the vesting and exercise of equity awards, rather than being sold in an open-market transaction for investment or portfolio reasons.

What is George Kurian’s reported NetApp (NTAP) shareholding after these transactions?

Following the reported Form 4 transactions, George Kurian’s direct holdings are listed at 354,789 NetApp Common Shares. This figure reflects his equity position after both the restricted stock unit exercises and the related tax-withholding share disposition on May 15, 2026.

How do the restricted stock units in this NetApp (NTAP) filing work?

The restricted stock units convert into NetApp common stock on a one-for-one basis. Footnotes explain prior RSU grants and their vesting schedules, where portions vest on specific May 15 dates and then quarterly, subject to Kurian’s continued service at the company.

Is the NetApp (NTAP) CEO’s Form 4 a market buy or sell signal?

The Form 4 mainly shows derivative exercises and tax withholding, not open-market trades. Shares were acquired through RSU conversion and some delivered for taxes, which is typically compensation-related activity rather than a discretionary market buy or sell decision.