NTAP Form 4: Daniel De Lorenzo Reports RSU Conversions and 172-Share Sale
Rhea-AI Filing Summary
Daniel De Lorenzo, Vice President, Controller & CAO of NetApp, Inc. (NTAP), reported multiple transactions on 08/15/2025. The filing shows an acquisition of 496 common shares and a disposition of 172 common shares sold at $108.79, leaving 779 shares beneficially owned after the non-derivative transactions.
The report also records vesting/conversion of restricted stock units into common shares: four separate RSU conversions totaling 496 shares (69, 107, 146, 174) recorded as vested on 08/15/2025, resulting in 1,025 and 1,925 derivative-share tallies shown after those transactions. Transactions were signed by an attorney-in-fact on 08/19/2025.
Positive
- RSU conversions were reported explicitly, with restricted stock units converting one-for-one into common shares.
- Full disclosure of transaction dates, amounts, and sale price ($108.79) is provided, satisfying Section 16 reporting requirements.
Negative
- Sale of 172 shares on 08/15/2025 reduced direct holdings; the filing does not state the purpose of the sale.
- Beneficial ownership remains relatively small post-transactions (779 shares), indicating limited economic stake reported in this filing.
Insights
TL;DR: Insider recorded RSU vesting and a small open-market sale, netting an increase in exercised shares but overall modest change in beneficial ownership.
The Form 4 documents vested restricted stock units converting one-for-one into common shares on 08/15/2025 and a contemporaneous sale of 172 shares at $108.79. The filing quantifies post-transaction beneficial ownership at 779 common shares and lists derivative holdings tied to prior RSU grants. For investors, this is a routine executive compensation vesting and partial sale rather than a material change in control or large-scale disposition.
TL;DR: The disclosure is a standard Section 16 filing showing RSU vesting and a limited sale by a named officer, properly reported.
The report identifies Daniel De Lorenzo as the reporting person and discloses vesting schedules tied to grants from 2021–2024, with specific tranche conversions recorded on 08/15/2025. The presence of an attorney-in-fact signature and explicit grant/vesting details align with required disclosure practices; there is no indication of unusual timing or undisclosed arrangements in the submitted form.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 69 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 107 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 146 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 174 | $0.00 | -- |
| Exercise | Common Shares | 496 | $0.00 | -- |
| Tax Withholding | Common Shares | 172 | $108.79 | $19K |
Footnotes (1)
- Restricted stock units convert into common stock on a one-for-one basis. 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. 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. 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. 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.
