CERNUDA CESAR 4

What Happened
Cesar Cernuda, President of NetApp (NTAP), had restricted stock units (RSUs) convert into common stock on February 15, 2026. The filing shows 4,919 RSUs converted into shares (reported as derivative exercise/conversion, code M). As part of the vesting/conversion, 1,182 shares were surrendered/withheld to satisfy tax withholding (code F) at $98.22 per share, producing proceeds/value of $116,096. The filing also reports the converted shares in three component lots (1,964; 1,756; 1,199), reflecting how the conversion/disposition was reported.

Key Details

• Transaction date: February 15, 2026. Filing date (Form 4): February 18, 2026 (appears to be filed one business day late, as Form 4 is generally due within two business days).
• Actions reported: M = exercise/conversion of derivative (RSU conversion) for 4,919 shares; F = tax withholding/surrender of 1,182 shares at $98.22/share (total $116,096).
• Share lots shown: dispositions/allocations reported as 1,964; 1,756; and 1,199 shares (sum = 4,919).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 confirms RSUs convert 1:1 to common stock. Footnotes F2–F4 detail prior RSU grants (July 2022, July 2023, July 2024) and their vesting schedules — these conversions relate to those award tranches.
• Codes: M = conversion/exercise of a derivative (here, RSU vest/convert); F = shares used to satisfy tax liability (withholding).

Context
This appears to be a routine vesting/settlement of previously granted RSUs with a sell-to-cover/withholding to meet tax obligations—not an open-market sale motivated by a liquidity choice that the filing attributes. The key monetary figure shown is the tax withholding value ($116,096). No purchase (bullish) signal is indicated; instead, this is a standard compensation-related transaction.