De Lorenzo Daniel 4

What Happened

• Daniel De Lorenzo, Vice President, Controller & Chief Accounting Officer of NetApp, had 428 restricted stock units convert into 428 shares of common stock on February 15, 2026. To satisfy tax withholding requirements, 176 shares were surrendered at $98.22 per share (withholding value reported as $17,287).
• The Form 4 also lists conversion/disposition line items of 107, 146 and 175 shares (these three amounts sum to 428), which correspond to the settlement of multiple RSU tranches reported on the filing. No cash purchase or open-market sale is reported — this is a vesting/settlement event tied to equity awards.

Key Details

• Transaction date: February 15, 2026; Form filed February 18, 2026.
• Tax withholding: 176 shares disposed to cover tax liability at $98.22/share for a total of $17,287.
• Conversion details: 428 RSUs converted to common stock (conversion price not applicable).
• Disposition line items: 107, 146 and 175 shares (sum = 428) recorded as derivative conversions/settlements.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Footnotes: F1–F4 note RSUs convert one-for-one and describe grants from July 1, 2022; July 13, 2023; and July 1, 2024 with standard multi-year vesting schedules (initial 25% cliff + quarterly vesting thereafter).
• Filing timeliness: filing date and transaction date are shown; the extract does not flag a late filing.

Context

• These entries reflect RSU vesting and settlement (derivative conversions), not an open-market buy or sale. The F code indicates shares were surrendered to cover tax withholding — a routine part of RSU settlement that does not necessarily indicate a change in insider sentiment.
• The M code on the Form 4 denotes exercise or conversion of a derivative (here, RSUs converting to shares). For retail investors, purchases or open‑market buys are often more informative about insider confidence; RSU vesting is primarily compensation-related.