CERNUDA CESAR 4

4 · NetApp, Inc. · Filed May 19, 2026

AI-generated summary of this filing

Updated May 19, 2026

NetApp (NTAP) President Cesar Cernuda Exercises RSUs; 5,033 Withheld

What Happened

Cesar Cernuda, President of NetApp (NTAP), had restricted stock units (RSUs) convert into 10,705 shares on May 15, 2026. Of those shares, 5,033 were surrendered to cover tax withholding at $119.93 per share, totaling $603,608. The conversion and withholding are reported as derivative transactions (SEC code M for exercise/conversion and F for payment of tax liability).
This was not an open-market sale or a purchase — it was routine RSU vesting with shares withheld to satisfy taxes.

Key Details

Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (filed within the normal two business-day window).
Conversion: 10,705 RSUs converted into 10,705 common shares (code M — exercise/conversion).
Tax withholding: 5,033 shares surrendered (code F) at $119.93/share for $603,608 withheld.
Net shares issued to the insider on vesting: 10,705 converted − 5,033 withheld = 5,672 shares retained by Cernuda (filing shows the conversion and withholding details; total post-transaction holdings are not separately listed).
Relevant footnotes: F1 confirms RSUs convert one-for-one to common stock. Footnotes F2–F5 describe the original RSU grant dates and vesting schedules (grants from 2022–2025 that vest partially on May 15 and quarterly thereafter).

Context

RSU vesting with share-withholding for taxes is a routine administrative event and does not necessarily indicate a buy or sell signal. The filing shows conversion of previously granted RSUs (derivative transactions) rather than an open-market disposition. Purchases by insiders generally carry more informational weight for bullish signals; this filing documents standard vesting and tax withholding.

Form 4

Period: 2026-05-15

President

Transactions

Exercise/Conversion
Common Shares
[F1]
2026-05-15+10,705→ 101,050 total
Tax Payment
Common Shares
2026-05-15$119.93/sh−5,033$603,608→ 96,017 total
Exercise/Conversion
Restricted Stock Unit
[F1][F2]
2026-05-15−1,964→ 0 total
→ Common Shares (1,964 underlying)
Exercise/Conversion
Restricted Stock Unit
[F1][F3]
2026-05-15−1,756→ 7,026 total
→ Common Shares (1,756 underlying)
Exercise/Conversion
Restricted Stock Unit
[F1][F4]
2026-05-15−1,200→ 9,597 total
→ Common Shares (1,200 underlying)
Exercise/Conversion
Restricted Stock Unit
[F1][F5]
2026-05-15−5,785→ 17,357 total
→ Common Shares (5,785 underlying)

Footnotes (5)

[F1]Restricted stock units convert into common stock on a one-for-one basis.
[F2]On July 1, 2022, the reporting person was granted 31,422 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares May 15, 2023 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
[F3]On July 13, 2023, the reporting person was granted 28,101 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares May 15, 2024 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
[F4]On July 1, 2024, the reporting person was granted 19,193 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares May 15, 2025 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.
[F5]On July 1, 2025, the reporting person was granted 23,142 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares May 15, 2026 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.

Signature

/s/ Dena Acevedo, Attorney-in-Fact for Cesar Cernuda|2026-05-19

1 file