[Form 4] NetApp, Inc Insider Trading Activity

Rhea-AI Filing Summary

NetApp, Inc. (NTAP) director T. Michael Nevens reported stock activity tied to restricted stock units. On 09/09/2025, 3,026 restricted stock units vested and converted one-for-one into 3,026 common shares that were acquired (transaction code M). Following that transaction, the reporting person beneficially owned 10,773 shares indirectly through The Nevens Family 1997 Trust. Separately, on 09/10/2025 an additional grant of 2,914 restricted stock units was made that vests the day before the next annual meeting subject to continued board service. The Form 4 was signed on 09/11/2025.

Positive

• Director received equity compensation through vesting of 3,026 RSUs, aligning interests with shareholders
• Additional grant of 2,914 RSUs indicates continued board compensation and retention incentives

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: A director received and vested RSUs, increasing indirect holdings; transactions are routine director compensation.

The filing shows standard equity compensation activity for a board member: a grant on 09/11/2024 that vested on 09/09/2025 producing 3,026 shares acquired under code M, and a subsequent grant of 2,914 RSUs on 09/10/2025 that vests at the next annual meeting subject to service. Indirect ownership through a family trust totals 10,773 shares after the conversion. These items are procedural and consistent with typical board equity awards and vesting schedules disclosed under Section 16.

Securities Analyst

TL;DR: The disclosure documents insider vesting and ownership; no sales or material disposition disclosed.

The Form 4 reports acquisitions via RSU vesting rather than open-market purchases or dispositions. The amounts are specific: 3,026 RSUs converted to common shares on 09/09/2025 and a grant of 2,914 RSUs on 09/10/2025. The report identifies indirect beneficial ownership through The Nevens Family 1997 Trust rather than direct holdings. No derivative exercises for cash or share sales are recorded. This filing is informational regarding compensation-related equity changes.

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
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^*

NEVENS THOMAS MICHAEL

(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		3,026	A	(1)	10,773	I	The Nevens Family 1997 Trust

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			3,026	(2)	(2)	Common Shares	3,026	(1)	0	D
Restricted Stock Unit	(1)	09/10/2025		A		2,914		(3)	(3)	Common Shares	2,914	(1)	2,914	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 3,026 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 2,914 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 T. Michael Nevens	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 NTAP director T. Michael Nevens report on Form 4?

The director reported the vesting and conversion of 3,026 RSUs into 3,026 common shares on 09/09/2025 and a subsequent grant of 2,914 RSUs on 09/10/2025.

How many NTAP shares does T. Michael Nevens beneficially own after the transaction?

Following the reported transaction, the filing shows 10,773 shares beneficially owned indirectly through The Nevens Family 1997 Trust.

Were any NTAP shares sold by the reporting person in this Form 4?

No. The Form 4 discloses only acquisitions via RSU vesting and grants; there are no dispositions or sales reported.

What is the nature and conversion rate of the reported RSUs for NTAP?

The RSUs convert into common stock on a one-for-one basis, as stated in the filing.

When was the Form 4 signed for the NTAP filing?

The Form 4 was signed by an attorney-in-fact on behalf of T. Michael Nevens on 09/11/2025.