Wissam Jabre
Executive Vice President and Chief Financial Officer at NTAP
Executive
About Wissam Jabre
Executive Vice President and Chief Financial Officer of NetApp (effective March 10, 2025), age 55, with 20+ years leading global finance organizations; prior CFO roles at Western Digital and Dialog Semiconductor, and senior finance roles at AMD, Freescale Semiconductor, and Motorola; engineering and finance beginnings at Schlumberger; MBA (Columbia) and B.E. in Electrical Engineering (American University of Beirut). Since appointment, Jabre has emphasized margin and cash discipline: Q1 FY26 revenue was $1,559M, up 1% YoY (3% YoY ex-Spot), non-GAAP gross margin 71.1%, non-GAAP operating margin 25.7%, non-GAAP diluted EPS $1.55, and record CFO/FCF of $673M/$620M; FY26 guidance: revenue $6.625–$6.875B and EPS $7.60–$7.90, with public cloud long-term gross margin target raised to 80–85% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Western Digital Corporation | EVP & CFO | Jan 2022–Mar 2025 | Led global finance (accounting, reporting, tax, treasury, IA, IR) |
| Dialog Semiconductor Plc | SVP & CFO | Mar 2016–Aug 2021 | Finance leadership through sale to Renesas Electronics |
| Schlumberger | Engineering & Finance roles | Prior to above | Early career development in engineering and finance |
| AMD; Freescale Semiconductor; Motorola | Senior finance roles | Prior to 2016 (years not disclosed) | Multiple senior finance positions across semis/hardware |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| MKS Instruments, Inc. | Director; Audit Committee member | Nov 2024–present | Public company board service and audit committee membership |
Fixed Compensation
| Element | Amount/Term | Notes |
|---|---|---|
| Annual Base Salary | $750,000 | Fiscal 2025 base rate |
| Annual ICP Target | 130% of base | Target % of base salary |
| 2025 Salary Paid | $86,538 | Prorated since hire on Mar 10, 2025 |
| 2025 One-Time Sign-On Bonus | $6,565,500 | 100% repay if voluntary termination ≤12 months; 50% repay if >12 and ≤24 months |
| 2025 All Other Compensation | $1,959 | 401(k) match $1,731; life insurance premium $228 |
Performance Compensation
New-Hire Equity Awards (Offer Letter Terms)
| Award Type | Target Value | Performance Metrics | Vesting | Acceleration/Termination Terms |
|---|---|---|---|---|
| RSUs (service-vested) | $7,500,000 | N/A | 1/3 on 1st, 2nd, 3rd anniversaries of grant date | If terminated without Cause/for Good Reason outside COC, RSUs that would vest within 1 year fully accelerate; death/disability: immediate vest |
| PBRSUs (FY2024 design) | $3,750,000 | 50% Relative TSR vs performance peer group; 50% Billings (future-year participation only) | Vests after completion of FY2026 (if earned) | Outside COC: continue to vest at target; death/disability: vest at target; COC: see COC section |
| PBRSUs (FY2025 design) | $3,750,000 | 50% Relative TSR; 50% Billings (future-year participation only) | Vests after completion of FY2027 (if earned) | Outside COC: continue to vest at target; death/disability: vest at target; COC: see COC section |
Grants of Plan-Based Awards (FY2025)
| Award | Grant Date | Estimated Shares at Target | Estimated Shares at Max | Grant Date Fair Value | Vesting |
|---|---|---|---|---|---|
| RSU | 4/15/2025 | — | — | $6,721,447 | 1/3 on each of the 1st, 2nd, 3rd anniversaries of grant date |
| PBRSU (TSR-based) | 4/15/2025 | 42,980 | 85,960 | $4,884,677 | Vests after FY2026/FY2027 (per tranche), subject to TSR performance |
| PBRSU (Billings-based) | 4/15/2025 | 42,980 | 85,960 | — (accounted when Billings targets set) | Vests after FY2026/FY2027 (per tranche), subject to Billings performance |
PBRSU Design Summary (Program-Level)
| Metric | Weighting | Target Definition | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Relative TSR vs Performance Peer Group | 50% | 3-year cumulative TSR vs designated peer group | Not disclosed | Not disclosed | End of performance period (FY2026 or FY2027, depending on tranche) |
| Billings | 50% | Annual Billings targets during multi-year period; for Jabre, only future-year participation | Not disclosed | Not disclosed | End of performance period (FY2026 or FY2027, depending on tranche) |
Accounting note: Fiscal 2025 Summary Compensation Table includes full fair value of TSR-based PBRSUs and RSUs for Jabre; Billings-based PBRSUs fair values will be included in fiscal 2026/2027 when targets are established .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (as of July 16, 2025) | “-” shares; less than 1% of class; shares outstanding 200,098,883 |
| Stock Ownership Guidelines (EVP) | 2x base salary; 5 years to comply; 50% of unvested RSUs counted toward compliance |
| Compliance Status (FY2025) | All covered executives in compliance at FY2025 year-end |
| Hedging/Pledging | Prohibited for all employees and directors; insider trading policy prohibits pledging as collateral |
| Option Awards | Company does not grant stock options (no repricing risk) |
Employment Terms
- Appointment and tenure: Effective March 10, 2025; EVP & CFO; principal financial officer; age 55 .
- Severance (outside Change of Control): 18 months base salary; pro-rata ICP bonus based on actual company performance through termination date; 18 months COBRA reimbursement; 12 months outplacement; conditioned on effective separation agreement .
- Change-of-Control Severance (double-trigger within 24 months post-COC): Cash severance equal to 150% of annual base salary + 150% of target annual bonus + prorated bonus (lump sum, subject to release); equity treatment includes service-vested awards vesting through 48 months post-termination and accelerated vesting for then-unvested performance-based awards per award terms; if awards are not assumed/substituted at COC, unvested awards accelerate, restrictions lapse, and performance goals deemed achieved at target on a prorated basis .
- New-hire equity acceleration (non-COC): RSUs that would vest over one year fully accelerate; PBRSUs continue to vest at target; death/disability: immediate vest at target .
- Clawbacks: Discretionary clawback for restatements (3-year lookback) and mandatory clawback policy effective Nov 15, 2023 to comply with SEC/Nasdaq (Dodd-Frank) .
- Related party/arrangements: No Item 404(a) transactions; no special arrangements or family relationships disclosed .
Performance & Track Record (since appointment)
| Metric | Q1 FY26 |
|---|---|
| Net Revenues ($M) | 1,559 |
| Non-GAAP Gross Margin (%) | 71.1 |
| Non-GAAP Operating Margin (%) | 25.7 |
| Non-GAAP Diluted EPS ($) | 1.55 |
| CFO (Operating Cash Flow, $M) | 673 |
| FCF ($M) | 620 |
- Guidance and portfolio management: FY26 revenue $6.625–$6.875B (midpoint +3% YoY; +4% ex-Spot); FY26 EPS $7.60–$7.90; public cloud LT gross margin target raised to 80–85% (drivers: depreciation roll-off; increasing software mix) .
- Business mix and margin levers: Recurring support gross margin 92.3%; product gross margin 54.0% non-GAAP; public cloud GM 80.1% in Q1 (at high end of prior target range) .
Investment Implications
- Pay-for-performance alignment: High at-risk equity mix via multi-year PBRSUs (50% TSR/50% Billings) and large service RSUs; mandatory/discretionary clawbacks and strict anti-hedging/pledging policies strengthen alignment .
- Retention dynamics: Significant sign-on cash subject to clawback if voluntary departure within 24 months and favorable severance protections outside COC reduce near-term attrition risk; RSU tranches vest annually over 3 years, creating predictable Form 4 activity and potential selling pressure around vest dates .
- COC economics: Double-trigger COC severance at 1.5x salary and 1.5x target bonus plus broad equity acceleration terms (with award treatment if not assumed) could create material parachute value in a sale; not shareholder-unfriendly tax gross-ups disclosed .
- Execution signal: Since appointment, Jabre has emphasized margin/cash discipline and raised public cloud LT margin targets, coincident with record cash generation—supportive for valuation through improved FCF yield and margin sustainability .