NetApp, Inc. — Form 10-Q
Filed September 2, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 8/100
What the filing says
This is a blank template form for NetApp's Change of Control Severance Agreement with executives. It specifies severance multiples: CEO receives 200% of base salary plus 200% of target bonus; other executives receive 150% of each. Severance is payable within 24 months of a Change of Control if employment terminates without Cause or for Good Reason. Equity awards vest on an accelerated schedule (48 months of time-vesting, 100% acceleration for performance awards). COBRA continuation is covered for 24 months (CEO) or 18 months (other executives). No specific transaction, counterparty, or dollar amount is disclosed—this is a form document with blanks for individual agreements.
Why this rating
Routine disclosure of standard executive severance template. No transaction or triggering event disclosed. Immaterial to ~$17B company in absence of actual Change of Control event.
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