CERNUDA CESAR 4
4 · NetApp, Inc. · Filed Jun 25, 2026
Research Summary
AI-generated summary of this filing
NetApp (NTAP) President Cesar Cernuda Sells 49,464 Shares
What Happened
Cesar Cernuda, President of NetApp (NTAP), sold a total of 49,464 shares in four open-market transactions on June 23, 2026, generating aggregate proceeds of approximately $7,657,880. The sales were executed under a Rule 10b5-1 trading plan adopted March 24, 2026, and portions of the trades are reported as weighted-average prices across one-dollar ranges.
Key Details
- Transaction date: June 23, 2026 (reported on Form 4 filed June 25, 2026). Filing appears timely (Form 4 is typically due within two business days).
- Individual tranches:
- 5,630 shares at weighted avg $153.00 (actuals ranged $152.52–$153.47) — $861,390
- 14,947 shares at weighted avg $154.01 (actuals ranged $153.55–$154.40) — $2,301,987
- 15,593 shares at weighted avg $155.29 (actuals ranged $154.63–$155.54) — $2,421,437
- 13,294 shares at weighted avg $155.94 (actuals ranged $155.72–$156.49) — $2,073,066
- Total: 49,464 shares sold for ~ $7.66 million.
- Shares owned after the transactions: not specified in the provided details of this summary (check the full Form 4 for post-transaction ownership).
- Notable footnotes:
- Trades were made pursuant to a 10b5-1 plan adopted March 24, 2026 (F1).
- Weighted-average prices reported; the filer provided actual price ranges for each tranche and will disclose per-share breakdowns upon request (F2–F6).
- Separately, the filing reflects a small ESPP purchase of 253 shares on May 29, 2026 (F3).
Context
These were open-market sales executed under a pre-established 10b5-1 trading plan. Trades under such plans are often automated and scheduled in advance and therefore may not reflect the insider’s current view of the company. For retail investors, purchases tend to be a stronger signal of confidence than routine sales; no option exercises, gifts, or unusual derivative events are reported here. For full ownership details or per-price sale breakdowns, consult the complete Form 4 filing (Accession: 0001193125-26-282862).
Insider Transaction Report
- Sale
Common Shares
[F1][F2][F3]2026-06-23$153.00/sh−5,630$861,390→ 90,640 total - Sale
Common Shares
[F1][F4]2026-06-23$154.01/sh−14,947$2,301,987→ 75,693 total - Sale
Common Shares
[F1][F5]2026-06-23$155.29/sh−15,593$2,421,437→ 60,100 total - Sale
Common Shares
[F1][F6]2026-06-23$155.94/sh−13,294$2,073,066→ 46,806 total
Footnotes (6)
- [F1]The Transaction reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 24, 2026.
- [F2]The price in Column 4 is a weighted average price of all sales by the reporting person on the transaction date within a one dollar range. The prices actually received ranged from $152.52 to $153.47. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
- [F3]Reflects 253 shares purchased at $83.9545 per share under the NetApp Employee Stock Purchase Plan on May 29, 2026.
- [F4]The price in Column 4 is a weighted average price of all sales by the reporting person on the transaction date within a one dollar range. The prices actually received ranged from $153.55 to $154.40. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
- [F5]The price in Column 4 is a weighted average price of all sales by the reporting person on the transaction date within a one dollar range. The prices actually received ranged from $154.63 to $155.54. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
- [F6]The price in Column 4 is a weighted average price of all sales by the reporting person on the transaction date within a one dollar range. The prices actually received ranged from $155.72 to $156.49. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.