NetApp, Inc. Files 8-K on Director Changes and Compensation
Ticker: NTAP · Form: 8-K · Filed: Jan 28, 2025 · CIK: 1002047
| Field | Detail |
|---|---|
| Company | Netapp, INC. (NTAP) |
| Form Type | 8-K |
| Filed Date | Jan 28, 2025 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $750,000, $3,750,000, $7,500,000, $6,565,500 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: NTAP
TL;DR
NetApp's 8-K: Board shakeup and new pay plans filed Jan 28, 2025.
AI Summary
On January 28, 2025, NetApp, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation arrangements. The filing indicates a shift in corporate governance and potential adjustments to how key personnel are compensated.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial priorities, potentially impacting investor confidence and stock performance.
Risk Assessment
Risk Level: medium — Changes in executive and director roles, along with compensation adjustments, can introduce uncertainty regarding future company direction and performance.
Key Players & Entities
- NetApp, Inc. (company) — Registrant
- January 28, 2025 (date) — Date of earliest event reported
FAQ
What specific changes were made to NetApp, Inc.'s board of directors?
The filing indicates changes related to the 'Departure of Directors or Certain Officers' and 'Election of Directors', but specific names and details of departures or elections are not provided in the summary information.
What are the key aspects of the 'Compensatory Arrangements of Certain Officers' mentioned in the filing?
The filing notes 'Compensatory Arrangements of Certain Officers' as an item of disclosure, suggesting updates or new information regarding executive pay, but specific details are not elaborated in the provided text.
What is the significance of filing under Item 5.02 of Form 8-K?
Item 5.02 of Form 8-K covers the departure or election of directors and the appointment or resignation of principal officers, as well as material compensatory arrangements.
When was NetApp, Inc. incorporated, and in which state?
NetApp, Inc. was incorporated in Delaware.
What is NetApp, Inc.'s IRS Employer Identification Number?
NetApp, Inc.'s IRS Employer Identification Number is 77-0307520.
Filing Stats: 1,399 words · 6 min read · ~5 pages · Grade level 11.4 · Accepted 2025-01-28 16:49:35
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 Par Value NTAP The Nasdaq Stock Mar
- $750,000 — llows: His annual base salary will be $750,000. His annual incentive compensation ta
- $3,750,000 — s base salary. The Company will grant $3,750,000 in value of performance-based restricte
- $7,500,000 — the Committee. The Company will grant $7,500,000 in value of service-vested restricted s
- $6,565,500 — Mr. Jabre will receive a bonus equal to $6,565,500, payable within 30 days of his start da
Filing Documents
- d922440d8k.htm (8-K) — 35KB
- d922440dex991.htm (EX-99.1) — 6KB
- 0001193125-25-014441.txt ( ) — 162KB
- ntap-20250128.xsd (EX-101.SCH) — 3KB
- ntap-20250128_lab.xml (EX-101.LAB) — 17KB
- ntap-20250128_pre.xml (EX-101.PRE) — 11KB
- d922440d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release, dated January 28, 2025, announcing appointment of Wissam Jabre as Executive Vice President and Chief Financial Officer of the Company. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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 thereunto duly authorized. NETAPP, INC. (Registrant) Date: January 28, 2025 By: /s/ Elizabeth O'Callahan Elizabeth O'Callahan Executive Vice President, Chief Legal Officer and Secretary