NetApp Director Paul Fipps Acquires Shares via RSU Vesting and Receives Annual Grant
NetApp, Inc.
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Filing Summary
NetApp, Inc. ($NTAP) Form 4 Filing: Director Paul Fipps acquired 2,646 Common Shares on 2026-09-08 via RSU vesting (Code M). Additionally, on 2026-09-09, Fipps was granted 1,542 Restricted Stock Units (Code A). Post-transaction direct beneficial ownership of Common Shares stands at 2,646 shares.
Comprehensive Analysis
Executive Summary
On September 10, 2026, NetApp, Inc. ($NTAP) filed a Form 4 disclosing transactions by Director Paul Fipps. The filing covers the vesting of 2,646 Restricted Stock Units (RSUs) into Common Shares on September 8, 2026, and a new grant of 1,542 RSUs on September 9, 2026.
Transaction Details
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Non-Derivative Common Shares:
- Transaction Date: September 8, 2026
- Transaction Code: M (Exercise or conversion of derivative security)
- Shares Acquired: 2,646 Common Shares
- Transaction Price: $0.00 (RSU settlement)
- Shares Beneficially Owned Following Transaction: 2,646 shares directly.
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Derivative Securities (RSUs):
- Settlement: 2,646 RSUs converted into Common Shares upon vesting on September 8, 2026 (granted January 14, 2026).
- New Grant: 1,542 RSUs awarded on September 9, 2026 (Code A), which will vest on the day immediately preceding the next Annual Meeting of Stockholders.
Significance & Market Impact
This filing represents standard director compensation mechanics involving routine RSU vesting and annual board equity grants. There were no open-market purchases or sales, resulting in a Low trading significance.
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