NetApp CFO Departs, CEO Employment Agreement Extended
Ticker: NTAP · Form: 8-K · Filed: Apr 9, 2024 · CIK: 1002047
| Field | Detail |
|---|---|
| Company | Netapp, INC. (NTAP) |
| Form Type | 8-K |
| Filed Date | Apr 9, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $370,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-departure, executive-appointment, employment-agreement
Related Tickers: NTAP
TL;DR
CFO out, CEO locked in. NetApp making moves.
AI Summary
NetApp, Inc. announced on April 4, 2024, the departure of its Chief Financial Officer, Michael J. McNamara, effective April 12, 2024. The company has appointed Kris Newton as interim CFO. Additionally, NetApp has entered into a new employment agreement with its CEO, George Kurian, extending his tenure and outlining his compensation.
Why It Matters
The departure of a CFO can signal changes in financial strategy or performance, while a CEO's extended contract suggests confidence in leadership continuity.
Risk Assessment
Risk Level: medium — CFO departure and interim appointment can create uncertainty, while CEO contract extension generally signals stability.
Key Players & Entities
- NetApp, Inc. (company) — Registrant
- Michael J. McNamara (person) — Chief Financial Officer
- April 12, 2024 (date) — CFO departure effective date
- Kris Newton (person) — Interim Chief Financial Officer
- George Kurian (person) — Chief Executive Officer
- April 04, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the interim CFO of NetApp?
Kris Newton has been appointed as the interim CFO.
When is Michael J. McNamara's departure as CFO effective?
Michael J. McNamara's departure is effective April 12, 2024.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is April 04, 2024.
What is the company's principal executive office address?
The principal executive office is located at 3060 Olsen Drive, San Jose, California, 95128.
What is the IRS Employer Identification Number for NetApp, Inc.?
The IRS Employer Identification Number for NetApp, Inc. is 77-0307520.
Filing Stats: 709 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-04-09 16:05:10
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 Par Value NTAP The Nasdaq Stock Mar
- $370,000 — f the Company includes a base salary of $370,000 annually and participation in the annua
Filing Documents
- ntap-20240404.htm (8-K) — 38KB
- 0000950170-24-042957.txt ( ) — 145KB
- ntap-20240404.xsd (EX-101.SCH) — 23KB
- ntap-20240404_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NETAPP, INC. (Registrant) Date: April 9, 2024 By: /s/ Elizabeth O'Callahan Elizabeth O'Callahan Executive Vice President, Chief Legal Officer and Secretary