[Form 4] NetApp, Inc Insider Trading Activity

Rhea-AI Filing Summary

NetApp director Carrie Palin reported routine insider transactions tied to restricted stock units. On 09/09/2025 2,377 restricted stock units vested and converted one-for-one into 2,377 common shares, resulting in 9,353 common shares beneficially owned following that transaction. The filing also discloses a grant on 09/10/2025 of 2,307 restricted stock units that vest on the day before the next annual meeting, subject to continued board service; those 2,307 units were recorded as acquired on 09/10/2025 and show 2,307 common shares beneficially owned following that grant. The form is signed by an attorney-in-fact and reflects standard Section 16 disclosure of equity awards converting and being granted to a director.

Positive

• 2,377 restricted stock units vested and converted into 2,377 common shares, increasing reported ownership
• New grant of 2,307 restricted stock units recorded, showing continued director compensation alignment with shareholders
• Filing signed and dated (attorney-in-fact), meeting Section 16 disclosure requirements

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director equity vesting and a new RSU grant increase insider ownership modestly; no cash trades or dispositions reported.

The Form 4 documents the vesting of 2,377 restricted stock units into common shares and the contemporaneous recording of a 2,307-unit RSU grant. These are compensatory equity events typical for non-employee directors and do not represent open-market buying or selling. The post-transaction beneficial ownership figure of 9,353 shares after vesting provides a snapshot of the director's stake but, by itself, is unlikely to materially affect NTAP valuation or signal a change in insider sentiment.

Corporate Governance Expert

TL;DR: Disclosure meets Section 16 requirements for RSU vesting and grants; timing tied to annual meeting vesting schedule.

The filing notes that the 2,377 RSUs granted on 09/11/2024 vested on 09/09/2025 (the day before the 2025 annual meeting), consistent with a board compensation schedule. The additional 2,307 RSUs granted 09/10/2025 vest the day before the next annual meeting, contingent on continuous board service. These mechanics and the attorney-in-fact signature are standard governance practice and maintain transparency required for director equity awards.

SEC Form 4

FORM 4

UNITED 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
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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^*

Palin Carrie

(Last) (First) (Middle)

3060 OLSEN DRIVE

(Street)

SAN JOSE CA 95128

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NetApp, Inc. [ NTAP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares	09/09/2025		M		2,377	A	(1)	9,353	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	09/09/2025		M			2,377	(2)	(2)	Common Shares	2,377	(1)	0	D
Restricted Stock Unit	(1)	09/10/2025		A		2,307		(3)	(3)	Common Shares	2,307	(1)	2,307	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. On September 11, 2024, the reporting person was granted 2,377 restricted stock units, which vested on September 9, 2025, the day immediately preceding the date of the 2025 Annual Meeting of Stockholders.

3. On September 10, 2025, the reporting person was granted 2,307 restricted stock units which vest on the day immediately preceding the date of the next Annual Meeting of Stockholders of the Company following the grant date, subject to the reporting person's continuous service on the Board through such date.

	/s/ Bryan Tham, Attorney-in-Fact for Carrie Palin	09/11/2025
	** Signature of Reporting Person	Date
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.

FAQ

What did Carrie Palin report on Form 4 for NTAP?

Carrie Palin reported the vesting of 2,377 RSUs into 2,377 common shares on 09/09/2025 and a grant of 2,307 RSUs on 09/10/2025.

How many NetApp shares did Palin beneficially own after the 09/09/2025 vesting?

9,353 common shares were reported as beneficially owned following the 09/09/2025 transaction.

Were any shares sold or disposed of by the reporting person?

No dispositions are reported; the Form 4 shows acquisitions related to RSU vesting and a grant.

When do the 2,307 newly granted RSUs vest?

The 2,307 RSUs granted on 09/10/2025 vest on the day immediately before the next annual meeting of stockholders, subject to continuous board service.

Does this Form 4 indicate unusual insider trading activity for NTAP?

No. The filing documents routine compensation-related vesting and grant activity for a director, not open-market trades.