NetApp (NTAP) SVP Daniel De Lorenzo Receives 743 Shares via RSU Vesting

What Happened

• Daniel De Lorenzo, Senior Vice President and Chief Accounting Officer of NetApp, had restricted stock units (RSUs) convert into 743 shares of NTAP common stock on August 15, 2026 (reported on Form 4 filed Aug 18, 2026).
• To satisfy tax withholding, 266 of those shares were surrendered at a withholding price of $204.99 per share, generating $54,527. The remaining 477 shares were issued to him.
• The filing shows the 743-share conversion broken down into three conversion entries of 147, 175 and 421 shares (these sum to 743) and a separate tax-withholding entry (266 shares). This was a vesting/settlement event (code M = conversion/exercise of derivative; code F = payment of tax liability), not an open-market sale or purchase.

Key Details

• Transaction date: August 15, 2026; Form 4 filed August 18, 2026 (filed timely).
• Withholding: 266 shares withheld at $204.99/share = $54,527 paid to cover taxes (code F).
• Total RSU conversion: 743 shares (broken out as 147, 175, 421 in the filing). Net shares issued to insider: 477 (743 − 266).
• Footnotes: F1 confirms RSUs convert 1:1 into common stock. Footnotes F2–F4 describe RSU grants from 2023–2025 with standard multi-year vesting schedules.
• Shares owned after the transaction are not provided in the excerpt.

Context

• This was a routine RSU vesting and withholding-for-taxes transaction — common for employee equity compensation. It is not an open-market sale or purchase and does not, by itself, imply insider sentiment about the stock.
• Transaction codes: M = exercise/conversion of a derivative security (RSU conversion here); F = payment of exercise price or tax liability (share withholding).