NetApp said on March 21, 2025 its Board approved increasing the number of authorized directors from 9 to 10 and appointed Frank Pelzer to fill the resulting vacancy.

1. 01

   NetApp said on March 21, 2025 its Board approved increasing the number of authorized directors from 9 to 10 and appointed Frank Pelzer to fill the resulting vacancy.

2. 02

   The company said Pelzer will serve on the Audit Committee, and the Board determined he qualifies as an audit committee financial expert under Item 407(d)(5).

3. 03

   In its press release, the company said Pelzer is Chief Operating Officer of Spotnana and previously served as CFO of F5, President and COO of the SAP Cloud Business Group, and CFO of Concur. It said 9 of the 10 directors are independent and 40% were appointed within the last 5 years.

4. 04

   NetApp said Pelzer, as a non-employee director, will participate in the non-employee director compensation program described in the definitive proxy statement filed with the SEC on July 26, 2024, and is expected to enter into the company's standard director indemnification agreement. It said there are no arrangements or understandings tied to his selection and no related party transactions requiring disclosure under Item 404(a).

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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