NTAP Form 4: June Yang Receives 2,307 Restricted Stock Units

Rhea-AI Filing Summary

June Yang, a NetApp (NTAP) director, was granted 2,307 restricted stock units on 09/10/2025. The RSUs convert one-for-one into common shares and will vest only if she continues board service through the day before the company’s next annual meeting following the grant. Vested shares will be delivered on the earlier of her cessation of board service or a change of control. The Form 4 reports 2,307 shares beneficially owned following the grant and was signed by an attorney-in-fact on 09/11/2025.

Insights

Financial Analyst

TL;DR: Routine director equity grant of 2,307 RSUs that aligns compensation with shareholder outcomes; immaterial to financials.

The grant is a standard non-cash director compensation event rather than a cash transaction. The award vests based on continued board service and includes customary delivery triggers upon service termination or change of control. The size—2,307 RSUs—is small relative to a public company’s outstanding shares and presents no direct impact on NetApp’s reported earnings or cash flows. This is a disclosure of insider ownership change, not an operational or financial development.

Corporate Governance Expert

TL;DR: Typical retention-style RSU grant with board-service vesting conditions; standard governance practice.

The award’s vesting tied to continued board service and delivery upon termination or change of control reflects common governance practice for non-employee directors to promote alignment with shareholders and retention. The filing is complete in describing conversion, vesting condition and delivery timing. There are no indications of accelerated or unusual terms beyond the stated change-of-control and cessation triggers.

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

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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^*

Yang June

(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)
09/10/2025

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

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)	09/10/2025		A		2,307		(2)	(2)	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 10, 2025, the reporting person was granted 2,307 restricted stock units. The shares will vest upon the reporting person's continuation in Board service through the day immediately preceding the date of the next Annual Meeting of Stockholders of the Company following the grant date. Vested shares will be delivered to the reporting person on the earlier of: (i) the date the reporting person ceases service as a Board Member or (ii) the date on which a change of control occurs.

	/s/ Bryan Tham, Attorney-in-Fact for June Yang	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 June Yang receive according to the Form 4 for NTAP?

The Form 4 shows June Yang was granted 2,307 restricted stock units on 09/10/2025.

When do the granted RSUs vest and convert into shares?

The RSUs convert one-for-one into common shares and vest if the reporting person continues board service through the day before the next Annual Meeting following the grant.

How and when will vested shares be delivered?

Vested shares will be delivered on the earlier of: (i) the date the reporting person ceases board service or (ii) the date a change of control occurs.

How many shares does the reporting person beneficially own after the transaction?

The Form 4 reports 2,307 common shares beneficially owned following the reported transaction.

Who signed the Form 4 and when was it filed?

The filing was signed by Bryan Tham, Attorney-in-Fact for June Yang and dated 09/11/2025.