NetApp (NASDAQ: NTAP) president converts 4,402 RSUs, withholds 2,070 shares
Rhea-AI Filing Summary
NetApp, Inc. (NTAP) reported insider equity activity by President Cesar Cernuda involving restricted stock units (RSUs) and common shares on August 15, 2026. Three RSU tranches totaling 4,402 units (1,757; 1,199; 1,446) were exercised or converted into an equivalent number of common shares, as each RSU converts to common stock on a one-for-one basis. In connection with these events, 2,070 common shares were delivered or withheld at $204.99 per share for payment of exercise price or tax liability.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 2,332 shares
Net Buy
5 txns
Insider
CERNUDA CESAR
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit F1, F2 | 1,757 | -- | -- |
| Exercise | Restricted Stock Unit F1, F3 | 1,199 | -- | -- |
| Exercise | Restricted Stock Unit F1, F4 | 1,446 | -- | -- |
| Exercise | Common Shares F1 | 4,402 | -- | -- |
| Exercise Price or Tax Liability | Common Shares | 2,070 | $204.99 | $424K |
Holdings After Transaction:
Restricted Stock Unit — 29,578 shares (Direct);
Common Shares — 49,138 shares (Direct)
Footnotes (4)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. On July 13, 2023, the reporting person was granted 28,101 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.
- F3. On July 1, 2024, the reporting person was granted 19,193 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.
- F4. On July 1, 2025, the reporting person was granted 23,142 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares May 15, 2026 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
Key Figures
RSUs converted: 4,402 shares
Shares delivered/withheld: 2,070 shares
Price per share for code F transaction: $204.99 per share
+4 more
7 metrics
RSUs converted
4,402 shares
Total RSUs exercised or converted into NetApp common shares on August 15, 2026
Shares delivered/withheld
2,070 shares
Common shares delivered or withheld for payment of exercise price or tax liability
Price per share for code F transaction
$204.99 per share
Per-share price for 2,070 NetApp common shares in the code F transaction
RSU grant July 13, 2023
28,101 units
Restricted stock units granted to Cesar Cernuda on July 13, 2023
RSU grant July 1, 2024
19,193 units
Restricted stock units granted to Cesar Cernuda on July 1, 2024
RSU grant July 1, 2025
23,142 units
Restricted stock units granted to Cesar Cernuda on July 1, 2025
Quarterly vesting rate
6.25%
Portion of RSU grants vesting quarterly for three years after initial 25% vesting
Key Terms
Restricted stock unit, vest, Payment of exercise price or tax liability by delivering or withholding securities, one-for-one basis
4 terms
Restricted stock unit financial
"Restricted stock units convert into common stock on a one-for-one basis."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
vest financial
"awards shall vest as to twenty-five percent (25%) of the shares May 15, 2024"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
Payment of exercise price or tax liability by delivering or withholding securities financial
"transaction code "F" described as Payment of exercise price or tax liability"
one-for-one basis financial
"Restricted stock units convert into common stock on a one-for-one basis."
FAQ
What insider transaction did NetApp (NTAP) report for Cesar Cernuda on August 15, 2026?
NetApp reported that President Cesar Cernuda exercised or converted 4,402 RSUs into common shares and had 2,070 shares delivered or withheld to cover exercise price or tax liability at $204.99 per share.
What do the restricted stock unit grants to Cesar Cernuda at NetApp (NTAP) look like?
Footnotes state Cernuda received RSU grants of 28,101 units (July 13, 2023), 19,193 units (July 1, 2024), and 23,142 units (July 1, 2025), each vesting 25% on a specified May 15 date, then 6.25% quarterly for three years.
Does Cesar Cernuda’s NetApp (NTAP) Form 4 indicate trades under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not checked, and the footnotes do not describe a trading plan, so the reported RSU conversions and related share deliveries are not identified as occurring under a pre-arranged Rule 10b5-1 plan.
Are Cesar Cernuda’s NetApp (NTAP) RSUs settled in stock or cash?
A footnote explains that the restricted stock units convert into common stock on a one-for-one basis, indicating the RSUs are settled in NetApp common shares rather than in cash upon vesting or conversion.
AI-generated analysis. How Rhea-AI works. Not financial advice.
