NTAP Form 4: Kurian George converts RSUs and sells 3,878 shares at $108.79

Rhea-AI Filing Summary

Kurian George, NetApp, Inc. (NTAP) director and CEO, reported transactions dated 08/15/2025. The filing shows 7,761 common shares acquired (code M) and a disposition of 3,878 common shares sold at $108.79. Following the reported transactions the filing lists 292,188 shares beneficially owned after the sale and reports earlier a post-acquisition balance of 296,066 prior to the disposition. The filing also documents vesting/conversion of restricted stock units into common shares: conversions of 2,876, 2,886, and 1,999 RSUs on the same date, with aggregate RSU-related common-share counts reflected in Table II. The report is signed by an attorney-in-fact on 08/19/2025.

Positive

• Timely disclosure of insider transactions by the CEO and director
• RSU conversions recorded, increasing reported common-share ownership by 7,761 on 08/15/2025
• Explanatory notes describe original RSU grants and vesting schedules (2022, 2023, 2024)

Negative

• Disposition of 3,878 shares at $108.79 reduced beneficial ownership on 08/15/2025
• Filing does not state the reason for the sale (no plan or purpose disclosed in the form)

Insights

Securities Analyst

TL;DR: Routine executive vesting plus a partial sale; net holdings remain substantial and disclosure is timely.

The Form 4 documents standard restricted stock unit conversions (code M) into common shares and a contemporaneous open-market or similar disposition of 3,878 shares at $108.79. Such filings are common for senior executives when scheduled RSU vestings occur and when a portion of shares are sold, often for tax or diversification purposes. The remaining beneficial ownership levels are clearly reported, supporting transparency for investors and regulators.

Corporate Governance Expert

TL;DR: Transaction mix appears procedural and compliant; disclosure includes vesting schedules and post-transaction balances.

The filing includes explanatory notes about prior RSU grants and vesting schedules from 2022, 2023 and 2024 and shows conversions and share counts tied to those awards. The presence of an attorney-in-fact signature indicates proper execution of the filing. No unusual or unexplained transactions are shown in the document.

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^*

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)
08/15/2025

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	08/15/2025		M		7,761	A	(1)	296,066	D
Common Shares	08/15/2025		F		3,878	D	$108.79	292,188	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)	08/15/2025		M			2,876	(2)	(2)	Common Shares	2,876	(1)	8,627	D
Restricted Stock Unit	(1)	08/15/2025		M			2,886	(3)	(3)	Common Shares	2,886	(1)	20,198	D
Restricted Stock Unit	(1)	08/15/2025		M			1,999	(4)	(4)	Common Shares	1,999	(1)	21,992	D

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.

	/s/ Bryan Tham, Attorney-in-Fact for George Kurian	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

Who filed the Form 4 for NetApp (NTAP)?

The filing was made for Kurian George, who is identified as a Director and the CEO of NetApp.

What transactions are reported on the 08/15/2025 Form 4 for NTAP?

The report shows an acquisition of 7,761 common shares (code M) and a disposition of 3,878 common shares at a price of $108.79 on 08/15/2025.

How many NetApp shares did Kurian George beneficially own after the reported transactions?

The filing lists a post-transaction beneficial ownership of 292,188 common shares following the reported sale.

Did the Form 4 include information about restricted stock unit (RSU) vesting?

Yes. The filing documents RSU conversions on 08/15/2025 of 2,876, 2,886, and 1,999 units and explains the original grant dates and vesting schedules from 2022–2024.

Who signed the Form 4 and when?

The Form 4 is signed by /s/ Bryan Tham, Attorney-in-Fact for George Kurian on 08/19/2025.