NetApp (NTAP) EVP Elizabeth O'Callahan Exercises RSUs, Sells 1,468 Shares

What Happened

• Elizabeth M. O'Callahan, NetApp EVP & Chief Administrative Officer, had restricted stock units (RSUs) convert into common stock on August 15, 2026. The Form 4 shows a conversion/acquisition of 2,908 shares and additional RSU conversions with dispositions of 1,004, 699 and 1,205 shares. Separately, 1,468 shares were withheld/disposed to cover taxes at $204.99 per share, producing $300,925 in proceeds.
• These transactions reflect RSU vesting and standard tax-withholding activity rather than an open-market purchase for investment.

Key Details

• Transaction date(s): August 15, 2026; Form 4 filed August 18, 2026.
• Reported sale/withholding: 1,468 shares at $204.99 = $300,925 (code F = tax withholding).
• RSU conversions (code M): 2,908 shares reported as acquired; 1,004, 699 and 1,205 shares reported as disposed (derivative conversions). No sale prices were reported for those disposed derivative entries in the provided data.
• Shares owned after the transactions: not specified in the provided data.
• Footnotes: F1 confirms RSUs convert 1:1 to common stock. Footnotes F2–F4 detail the original RSU grants (July 2023, July 2024, July 2025) and their vesting schedules (25% initial vesting then quarterly 6.25% tranches).
• Filing timeliness: Form 4 was filed 3 days after the transaction (filed Aug 18 reporting Aug 15 activity); no late-filing flag was provided in the supplied information.

Context

• These entries reflect RSU vesting and routine tax-withholding (a common "sell to cover" or shares withheld by the company), not an open-market sale initiated as a discretionary trade. Code M denotes conversion/exercise of a derivative (here, RSUs converting to common stock); code F denotes shares used to satisfy tax obligations.
• Such withholding/sales for taxes are administrative and do not necessarily signal the insider's view on the stock.