NetApp (NTAP) Director Paul Fipps Converts RSUs, Receives New Award

What Happened

• Paul Fipps, a director of NetApp (NTAP), had 2,646 restricted stock units (RSUs) convert into common stock on September 8, 2026 and the same 2,646 shares were reported as disposed that same day (reported as a derivative transaction). On September 9, 2026 he was granted 1,542 new RSUs. The filing does not report prices or dollar values for these entries.

Key Details

• Transaction dates: RSU conversion and disposition on 2026-09-08; new RSU grant on 2026-09-09.
• Transaction types/codes: M = conversion/exercise of derivative (2,646 shares); A = grant/award (1,542 RSUs).
• Prices/values: Not reported in the available Form 4 excerpt (listed as N/A).
• Shares owned after transaction: Not specified in the provided excerpt — see the full Form 4 for total beneficial ownership.
• Footnotes: F1 — RSUs convert 1-for-1 into common stock. F2 — the 2,646 RSUs were granted Jan 14, 2026 and vested Sept 8, 2026. F3 — the 1,542 RSUs granted Sept 9, 2026 vest the day before the next annual meeting, contingent on continued board service.
• Filing timeliness: Reported on 2026-09-10 for transactions on 2026-09-08; filed within the standard two-business-day window.

Context

• The M-coded entries reflect a conversion of RSUs into shares (a non-cash vesting event) and a simultaneous recorded disposition of those shares; Form 4s often show similar dispositions when shares are sold or withheld for taxes, though this filing does not state the reason or sale price. The A-coded entry is a new equity award that vests subject to continued board service and does not represent an immediate market purchase.