O'Callahan Elizabeth M 4

What Happened

• Elizabeth M. O'Callahan, EVP & Chief Administrative Officer of NetApp (NTAP), had restricted stock units (RSUs) convert into common shares on Feb 15, 2026. The filing shows 2,750 shares were acquired on conversion. To cover tax withholding and related settlements, 1,443 shares were disposed (withholding) at $98.22 per share for $141,731; three additional RSU conversions are reported as disposals of 1,047, 1,003 and 700 shares (no cash proceeds reported).

Key Details

• Transaction date: 2026-02-15; Form 4 filed: 2026-02-18 (filed within typical two-business-day window).
• Acquired on conversion: 2,750 shares (code M — exercise/conversion of derivative).
• Withheld/disposed for taxes (code F): 1,443 shares at $98.22 = $141,731.
• Additional RSU-related disposals (code M): 1,047; 1,003; and 700 shares (no sale price / cash proceeds reported in filing).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnotes: F1 notes RSUs convert 1-for-1 into common stock. F2–F4 list prior RSU grants (July 2022, July 2023, July 2024) and their vesting schedules — these likely explain the conversions reported.

Context

• These entries reflect RSU vesting and share conversion, not an open-market sale or purchase. The 1,443-share disposal was a tax withholding (common with vested RSUs). The other disposals listed as derivative conversions show no cash amount reported and likely reflect share settlement mechanics rather than sales to third parties. This is routine equity compensation activity by an executive, not necessarily a signal of intent to buy or sell additional shares.