NetApp (NTAP) CPO Syam Nair Exercises RSUs, Sells 16,818 Shares

What Happened
Syam Nair, EVP & Chief Product Officer of NetApp, converted 42,739 restricted stock units (RSUs) into common shares on August 15, 2026. To satisfy tax withholding obligations, 16,818 of those shares were disposed at $204.99 each for a total of $3,447,522. After withholding, the net shares delivered to Nair from this vesting event were 25,921 (42,739 converted minus 16,818 withheld).

Key Details

• Transaction date: August 15, 2026; Form 4 filed August 18, 2026 (timely filing).
• RSUs converted (acquired): 42,739 shares (footnote F1: RSUs convert 1-for-1).
• Shares disposed to cover tax liability (F): 16,818 shares at $204.99 each, total $3,447,522.
• Net shares retained from the vesting: 25,921 (42,739 - 16,818).
• Footnote F3: These 42,739 shares equal the 22% tranche that vested from a 194,272-RSU grant awarded Aug 15, 2025 (vesting schedule 22%/29%/34%/15%).
• Footnote F2: Filing also notes a separate ESPP purchase of 379 shares on May 29, 2026 at $95.4295/share.
• Shares owned after the transaction: not specified in the filing.
• Transaction codes: M = exercise/conversion of derivative (RSU vesting), F = payment of tax liability (sell-to-cover).

Context
This was a routine vesting of RSUs with a sell-to-cover for taxes rather than an open-market liquidation for investment purposes. Such tax withholding is common and does not necessarily signal confidence or concern about the company’s prospects. The 42,739 shares represent the first-anniversary tranche (22%) of a multi-year RSU award granted Aug 15, 2025.