De Lorenzo Daniel 4

What Happened
Daniel De Lorenzo, Vice President, Controller & Chief Accounting Officer of NetApp, reported the conversion/vesting of restricted stock units (derivative transactions) on May 15, 2026. The filing shows a conversion (exercise) that resulted in 2,116 common shares and several derivative conversions that were disposed (108, 146, 175 and 1,687 shares). Separately, 751 shares were surrendered to cover tax withholding at $119.93 per share, totaling $90,067. Overall, vested RSUs were converted into stock and some of those shares were withheld/sold to satisfy tax obligations and other disposals.

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (appears timely).
• Tax withholding: 751 shares withheld at $119.93/share = $90,067 (reported as code F).
• Derivative conversions/exercises reported (code M): 2,116 shares acquired; disposals of 108, 146, 175 and 1,687 shares (reported as conversions/dispositions).
• Shares owned after the transactions: not specified in the provided filing extract.
• Footnotes: F1–F5 indicate these were restricted stock units (RSUs) converting 1-for-1 and reflect multi-year grant schedules (grants from 2022–2025 with scheduled vesting, including a 25% vest on May 15 of relevant years and quarterly vesting thereafter).

Context

• These transactions look like standard RSU vesting and settlement activity rather than open-market purchases or discretionary sales: RSUs converted into common stock and portions were withheld/sold to cover taxes and/or settled immediately.
• This is routine compensation-related activity; it is factual reporting of vested awards and tax withholding, not a direct signal of personal bullish/bearish bets.