NetApp, Inc. — Director's Dealing 2010

Jul 27, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NetApp, Inc. (NTAP)
CIK: 0001002047
Period of Report: 2010-07-23

Reporting Person: WARMENHOVEN DANIEL J (Executive Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-07-23	Common Stock	M	50000	$9.99	Acquired	100087	Direct
2010-07-23	Common Stock	S	50000	$42	Disposed	50087	Direct
2010-07-23	Common Stock	M	100000	$20.16	Acquired	2476685	Indirect
2010-07-23	Common Stock	S	100000	$42.17	Disposed	2376685	Indirect
2010-07-23	Common Stock	M	562	$20.16	Acquired	2377247	Indirect
2010-07-23	Common Stock	S	562	$43.17	Disposed	2376685	Indirect
2010-07-26	Common Stock	M	99438	$20.16	Acquired	2476123	Indirect
2010-07-26	Common Stock	S	99438	$43.17	Disposed	2376685	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-07-23	Non-Qualified Stock Option (right to buy)	$9.99	M	50000	Disposed	2012-10-31	Common Stock (50000)	Direct
2010-07-23	Non-Qualified Stock Option (right to buy)	$20.16	M	100000	Disposed	2011-04-25	Common Stock (100000)	Direct
2010-07-23	Non-Qualified Stock Option (right to buy)	$20.16	M	562	Disposed	2011-04-25	Common Stock (562)	Direct
2010-07-26	Non-Qualified Stock Option (right to buy)	$20.16	M	99438	Disposed	2011-04-25	Common Stock (99438)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	170000	Indirect
Common Stock	78962	Indirect

Footnotes

F1: The option exercise(s) and sale(s) reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 1, 2010.

F2: The option exercise(s) and sale(s) reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 2, 2010.

F3: Shares held in trust by Daniel J. Warmenhoven & Charmaine A. Warmenhoven, trustees to The Warmenhoven 1987 Revocable Trust UTA dated 12/16/87, as amended.

F4: Shares held by Warmenhoven Ventures LP, a limited partnership of which the Warmenhoven Management Trust is the general partner, of which the reporting person and his wife are the trustees. Reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F5: Shares held in trust by Richard A. Andre, trustee to The Daniel J. Warmenhoven 1991 Children's Trust. Reporting person disclaims beneficial ownership of such shares.

F6: Option vests in a series of equal monthly installments over 48 months of service beginning with the one-month annniversary of the grant date.

F7: Option vests with respect to 25% of the option shares on the first anniversary of the grant date and the balance in a series of equal monthly installments over the next 36 months of service thereafter.