CESAR CERNUDA - 15 Aug 2022 Form 4 Insider Report for NetApp, Inc. (NTAP)

Role
President
Signature
By:Roberta S Cohen, Attorney-in-Fact for Cesar Cernuda
Issuer symbol
NTAP
Transactions as of
15 Aug 2022
Net transactions value
-$2,341,889
Form type
4
Filing time
17 Aug 2022, 17:48:52 UTC
Previous filing
18 Jul 2022
Next filing
19 Sep 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NTAP Common Shares Options Exercise $0 +66,768 +109% $0.000000 127,843 15 Aug 2022 Direct
transaction NTAP Common shares Tax liability $2,341,889 -31,380 -25% $74.63 96,463 15 Aug 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NTAP Restricted Stock Unit Options Exercise $0 -29,964 -100% $0.000000* 0 15 Aug 2022 Common Stock 29,964 $0.000000 Direct F1, F2
transaction NTAP Restricted Stock Options Exercise $0 -34,573 -100% $0.000000* 0 15 Aug 2022 Common Stock 34,573 $0.000000 Direct F1, F3
transaction NTAP Restricted Stock Options Exercise $0 -2,231 -8.3% $0.000000 24,544 15 Aug 2022 Common Stock 2,231 $0.000000 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted Stock Units convert into common stock on a one-for-one basis.
F2 On August 17, 2020, the reporting person was granted 59,927 restricted stock units, with 50% vesting on August 15, 2021, and the remaning 50% vesting on August 15, 2022, subject to continued service on each applicable vesting date.
F3 On August 17, 2020, the reporting person was granted 69,146 restricted stock units, with 50% vesting on August 15, 2021, and the remaning 50% vesting on August 15, 2022, subject to continued service on each applicable vesting date.
F4 On July 1, 2021, the reporting person was granted 35,700 restricted stock units. Restricted stock unit awards shall vest as to twenty-five percent (25%) of the shares May 15, 2022 and 1/16th (6.25%) of the shares quarterly thereafter for the next three years, subject to continued service on each applicable vesting date.

Remarks:

The number of securities shown to be beneficially owned following the transaction previously reported on a Form 4 filed on August 17, 2021 was incorrectly reported as 84,273 (as opposed to 95,507) due to a previous clerical error, which calculation error was not carried forth on Forms 4 subsequently filed.