[Form 4] NetApp, Inc Insider Trading Activity

Rhea-AI Filing Summary

NetApp insider sale recorded. Director and CEO George Kurian sold 8,500 common shares on 08/18/2025 under a pre-existing Rule 10b5-1 trading plan adopted 12/19/2023. The weighted average sale price reported is $108.85, with actual prices ranging from $108.48 to $109.21. After the dispositions Kurian beneficially owned 283,688 shares. The Form 4 was signed on behalf of Kurian by an attorney-in-fact, Bryan Tham.

Positive

• Transaction executed under a Rule 10b5-1 plan, indicating pre-scheduled, compliant insider trading
• Full disclosure of weighted average price and price range, improving transparency

Negative

• Director/CEO reduced holdings by 8,500 shares, lowering beneficial ownership to 283,688 shares
• Sale occurred in open market, which could be interpreted by some market participants as a negative signal despite plan protection

Insights

Financial Analyst

TL;DR: Routine insider sale under a 10b5-1 plan reduces holdings modestly, likely non-material to enterprise value.

The Form 4 discloses an executed sale of 8,500 shares at a weighted average price of $108.85 under a Rule 10b5-1 plan adopted 12/19/2023. Post-sale beneficial ownership is 283,688 shares. This appears to be a pre-scheduled disposition rather than opportunistic trading; volume is small relative to typical public float for a large-cap issuer, so direct market impact and signal about operations are limited.

Corporate Governance Expert

TL;DR: Use of an executed 10b5-1 plan and attorney-in-fact signature suggests procedural compliance and governance controls.

The filing explicitly notes the transaction was effected pursuant to a 10b5-1 trading plan adopted 12/19/2023 and was signed by an attorney-in-fact, indicating documented insider trading governance. The disclosure of the price range ($108.48–$109.21) and weighted average price increases transparency. No other governance events or unusual compensation-related exercises are disclosed.

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).

X

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 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
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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	08/18/2025		S(1)		8,500	D	$108.85(2)	283,688	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

Explanation of Responses:

1. The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 19, 2023.

2. The price in Column 4 is a weighted average price of all sales by the reporting person on the transaction date within a one dollar range. The prices actually received ranged from $108.48 to $109.21. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

	/s/ Bryan Tham, Attorney-in-Fact for George Kurian	08/20/2025
	** 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 NetApp (NTAP) insider George Kurian sell on 08/18/2025?

He sold 8,500 common shares of NetApp on 08/18/2025 under a Rule 10b5-1 plan.

At what price were the NTAP shares sold by George Kurian?

The weighted average sale price was $108.85; actual prices ranged from $108.48 to $109.21.

How many NTAP shares does George Kurian own after the sale?

Following the reported transaction Kurian beneficially owned 283,688 shares.

Was the insider sale part of a pre-arranged trading plan?

Yes. The Form 4 states the transaction was effected pursuant to a Rule 10b5-1 trading plan adopted on 12/19/2023.

Who signed the Form 4 on behalf of George Kurian?

The Form 4 was signed by Bryan Tham, Attorney-in-Fact for George Kurian on 08/20/2025.