NetApp (NTAP) Director Francis Pelzer Exercises RSUs, Receives Award

What Happened

• Francis J. Pelzer, a NetApp director, had 2,307 restricted stock units (RSUs) that vested and converted into common shares on Sept 8, 2026; those converted shares were reported as disposed the same day. The filing shows no per-share price or total dollar value. On Sept 9, 2026 he was granted 1,542 additional RSUs that vest before the next annual meeting, contingent on continued board service.
• These transactions are compensation-related awards/settlements (not open-market buys or discretionary sales). The 2,307 conversion reflects vesting of a prior grant; the 1,542 grant is a new award subject to future vesting.

Key Details

• Transaction dates: Sept 8, 2026 (vesting/conversion and same-day disposition of 2,307 RSUs); Sept 9, 2026 (grant of 1,542 RSUs).
• Reported prices/values: N/A in the filing for all items.
• Shares owned after transaction: Not disclosed in this Form 4.
• Footnotes: F1—RSUs convert 1:1 into common stock. F2—The 2,307 RSUs were granted on Sept 10, 2025 and vested Sept 8, 2026. F3—The 1,542 RSUs were granted Sept 9, 2026 and vest the day before the next annual meeting, subject to continued service.
• Timeliness: Form filed Sept 10, 2026 for transactions on Sept 8–9, 2026; filing appears timely (no late-filing flag).

Context

• These are equity compensation events: vested RSUs converting to shares and a subsequent grant of new RSUs. When vested shares are converted and then immediately disposed, that disposition is often to cover tax withholding or related settlement obligations—such dispositions are common and do not necessarily signal a change in personal investment view. The new RSU grant is future‑vesting compensation tied to board service.