CERNUDA CESAR 4
4 · NetApp, Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
NetApp (NTAP) President Cesar Cernuda Receives RSU Award
What Happened
Cesar Cernuda, President of NetApp, was awarded 14,783 restricted stock units (RSUs) on July 1, 2026. The grant is reported as an award/other acquisition (code A) and has no purchase price listed (N/A). These RSUs are derivative awards that will convert into common stock on a one-for-one basis as they vest.
Key Details
- Transaction date: July 1, 2026; filing date: July 2, 2026 (timely filing).
- Transaction type: Award/Grant of 14,783 RSUs (derivative); price: N/A.
- Shares owned after transaction: not specified in the Form 4 filing.
- Footnotes:
- RSUs convert into common stock on a one-for-one basis (F1).
- Vesting: 1/8th (12.5%) vests October 15, 2026, then 1/16th (6.25%) vests quarterly thereafter for a total vesting period of 45 months, subject to continued service (F2).
- No sale, option exercise, tax-withholding sale, or 10b5-1 plan is indicated in this filing.
Context
RSU grants are compensation-based derivative awards that become actual shares only as they vest; they are not open-market purchases or sales and therefore do not directly reflect an immediate buy/sell signal. Based on the stated schedule, roughly 12.5% of the award (about 1,848 RSUs) will vest on October 15, 2026, followed by quarterly tranches of about 6.25% (≈924 RSUs) thereafter, assuming continued service.
Insider Transaction Report
- Award
Restricted Stock Unit
[F1][F2]2026-07-01+14,783→ 14,783 total→ Common Shares (14,783 underlying)
Footnotes (2)
- [F1]Restricted stock units convert into common stock on a one-for-one basis.
- [F2]On July 1, 2026, the reporting person was granted 14,783 restricted stock units. Restricted stock unit awards shall vest as to 1/8th (12.5%) of the shares October 15, 2026 and 1/16th (6.25%) of the shares quarterly thereafter for a total of 45 months, subject to continued service on each applicable vesting date.