O'Callahan Elizabeth M 4

What Happened
Elizabeth M. O'Callahan, EVP & Chief Administrative Officer of NetApp (NTAP), had 7,573 restricted stock units (RSUs) convert into common shares on May 15, 2026. Of those, 3,822 shares were surrendered/withheld to cover tax withholding at $119.93 per share (total value $458,372), leaving 3,751 shares issued to her net. These transactions are conversions/settlements of RSU awards (not open-market purchases or discretionary sales).

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (filed within normal reporting window).
• Conversion: 7,573 RSUs converted into 7,573 common shares (per footnote F1: 1-for-1 conversion).
• Tax withholding: 3,822 shares withheld / disposed at $119.93 each, value $458,372 (transaction code F).
• Net shares received: 3,751 shares.
• Relevant footnotes: F1 confirms 1-for-1 RSU conversion; F2–F5 describe prior RSU grants and vesting schedules (notably F5: 19,285 RSUs granted July 1, 2025, with 25% vesting on May 15, 2026, which corresponds to 4,821 shares).
• This was a vesting/net-settlement for tax withholding (routine), not an open-market sale or purchase.

Context
These entries reflect RSU vesting and net share settlement to satisfy tax obligations (commonly called a cashless/net-settlement), a routine compensation event. No open-market sale or buy was reported here beyond the tax-withholding disposition, so the transaction primarily reflects compensation vesting rather than an independent investment decision.