Nair Syam 4

What Happened
Syam Nair, NetApp’s Executive Vice President and Chief Product Officer, received two awards totaling 17,139 shares on 2026-05-14 as performance stock units (PSUs) settled into common stock. To satisfy tax withholding related to the PSU settlement, 3,674 shares (valued at $118.58 each; $435,663) and 3,071 shares (valued at $118.58 each; $364,159) were surrendered, for a combined withholding value of $799,822. Net result of the transaction: +10,394 shares retained after withholding.

Key Details

• Transaction date: 2026-05-14; Form 4 filed 2026-05-18 (timely within SEC two-business-day rule).
• Awards/Acquisitions: 9,336 shares and 7,803 shares (total 17,139) — PSUs converted 1-for-1 into common stock.
• Tax withholding (code F): 3,674 shares @ $118.58 = $435,663 and 3,071 shares @ $118.58 = $364,159 (total ~$799,822) surrendered to cover taxes.
• Net change from these transactions: +10,394 shares (17,139 acquired − 6,745 withheld).
• Footnotes: F1 — settlement of PSUs originally granted Aug 15, 2025; F2 — PSUs convert into common stock on a one-for-one basis.
• Shares owned after transaction: not specified in the filing.

Context
This was a PSU settlement (an award converting to shares), not an open-market purchase or sale. The withheld shares reflect tax withholding rather than a cash sale on the open market — a common administrative step when equity awards vest. Such award settlements are routine and do not necessarily signal management buying or selling preference.