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NetApp CAO Form 4 shows RSU vesting and 173-share sale

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

NetApp, Inc. (NTAP) officer Daniel De Lorenzo, the VP, Controller & CAO, reported equity transactions on November 15, 2025. He acquired 500 common shares through the vesting and conversion of previously granted restricted stock units, which convert into common stock on a one-for-one basis. On the same date, he disposed of 173 common shares at $109.6 per share, typically used to cover tax withholding, leaving him with 327 common shares held directly.

Several restricted stock unit awards granted between 2021 and 2024 partially vested on this date. After these vesting events, portions of those RSU grants remain outstanding, scheduled to continue vesting over time as long as his service with NetApp continues on each applicable vesting date.

Positive

  • None.

Negative

  • None.
Insider De Lorenzo Daniel
Role VP, Controller & CAO
Type Security Shares Price Value
Exercise Restricted Stock Unit 70 $0.00 $0.00
Exercise Restricted Stock Unit 108 $0.00 $0.00
Exercise Restricted Stock Unit 147 $0.00 $0.00
Exercise Restricted Stock Unit 175 $0.00 $0.00
Exercise Common Shares 500 $0.00 $0.00
Exercise Price or Tax Liability Common Shares 173 $109.60 $19K
Holdings After Transaction: Restricted Stock Unit — 2,843 shares (Direct); Common Shares — 327 shares (Direct)
Footnotes (5)
  1. F1. Restricted stock units convert into common stock on a one-for-one basis.
  2. F2. On November 15, 2021, the reporting person was granted 1,110 restricted stock units, vesting as to twenty-five percent (25%) of the shares on November 15, 2022 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. F3. On July 1, 2022, the reporting person was granted 1,720 restricted stock units, vesting as to twenty-five percent (25%) of the shares on 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.
  4. F4. On July 13, 2023, the reporting person was granted 2,341 restricted stock units, vesting as to twenty-five percent (25%) of the shares on 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.
  5. F5. On July 1, 2024, the reporting person was granted 2,798 restricted stock units, vesting as to twenty-five percent (25%) of the shares on 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.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did NetApp (NTAP) executive Daniel De Lorenzo report in this Form 4?
The VP, Controller & CAO of NetApp (NTAP) reported the vesting of restricted stock units into 500 common shares and the sale of 173 shares on November 15, 2025, leaving him with 327 common shares directly owned.

How many NetApp (NTAP) shares does the reporting person directly own after the transactions?
Following the reported transactions, the officer directly owns 327 NetApp common shares.

What price were NetApp (NTAP) shares sold for in the reported transaction?
The reported disposition of 173 NetApp common shares was at a price of $109.6 per share.

What is the nature of the restricted stock units reported by the NetApp (NTAP) officer?
Restricted stock units reported by the NetApp officer each convert into one share of common stock, with vesting schedules that generally release 25% on a specified initial date and 6.25% quarterly over three years, subject to continued service.

Which role at NetApp (NTAP) is associated with this Form 4 filing?
The Form 4 filing relates to an officer of NetApp who serves as VP, Controller & Chief Accounting Officer (CAO).

What are the grant dates of the restricted stock units reported for the NetApp (NTAP) officer?
The filing references RSU grants made on November 15, 2021, July 1, 2022, July 13, 2023, and July 1, 2024, each with scheduled vesting tied to future service.
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*
De Lorenzo Daniel
(Last) (First) (Middle)
3060 OLSEN DR
(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP, Controller & CAO
3. Date of Earliest Transaction (Month/Day/Year)
11/15/2025
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 11/15/2025 M 500 A (1) 500 D
Common Shares 11/15/2025 F 173 D $109.6 327 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) 11/15/2025 M 70 (2) (2) Common Shares 70 (1) 0 D
Restricted Stock Unit (1) 11/15/2025 M 108 (3) (3) Common Shares 108 (1) 215 D
Restricted Stock Unit (1) 11/15/2025 M 147 (4) (4) Common Shares 147 (1) 878 D
Restricted Stock Unit (1) 11/15/2025 M 175 (5) (5) Common Shares 175 (1) 1,750 D
Explanation of Responses:
1. Restricted stock units convert into common stock on a one-for-one basis.
2. On November 15, 2021, the reporting person was granted 1,110 restricted stock units, vesting as to twenty-five percent (25%) of the shares on November 15, 2022 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 1, 2022, the reporting person was granted 1,720 restricted stock units, vesting as to twenty-five percent (25%) of the shares on 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.
4. On July 13, 2023, the reporting person was granted 2,341 restricted stock units, vesting as to twenty-five percent (25%) of the shares on 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.
5. On July 1, 2024, the reporting person was granted 2,798 restricted stock units, vesting as to twenty-five percent (25%) of the shares on 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 Daniel De Lorenzo 11/18/2025
** 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.

Source: View Original Filing on SEC EDGAR