Form 4: Snowflake CEO Frank Slootman Reports Stock Transactions
SEC Form 4
Frank Slootman, CEO of Snowflake, reports multiple transactions involving Class A Common Stock, including sales to cover tax obligations and sales under a pre-arranged trading plan.
Summary
- Frank Slootman, CEO of Snowflake, filed a Form 4 detailing changes in his beneficial ownership of Snowflake Inc. stock.
- On March 17, 2025, shares were withheld to cover tax obligations related to vesting restricted stock units, at a price of $156.11.
- A total of 1,541 shares were withheld, and then 955 shares were withheld.
- On March 18, 2025, Slootman sold 7,016 shares at $155.69 per share under a 10b5-1 trading plan adopted on September 30, 2024.
- Following these transactions, Slootman directly owns 182,999 shares of Class A Common Stock.
- Slootman also indirectly owns shares through various entities, including Invisible Hand Ventures, LLC (1,173 shares), the Slootman Family Foundation (83,014 shares), and several trusts (ranging from 16,300 to 335,146 shares).
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions, so the sentiment is neutral.
Industry Context
Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. Form 4 filings are a standard part of regulatory compliance for company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the potential dilution from stock-based compensation and the signal from insider selling.
Key Dates
| Date | Description |
|---|---|
| 09/08/1999 | Date of the Slootman Living Trust |
| 11/24/2010 | Date of the Slootman Family Foundation |
| 07/28/2022 | Date of the Slootman Grandchildren's Trust |
| 09/25/2023 | Date of the Slootman 2023 Grantor Retained Annuity Trust |
| 09/30/2024 | Date the Reporting Person adopted a 10b5-1 trading plan |
| 12/03/2024 | Date of the B. Slootman 2024 Grantor Retained Annuity Trust |
| 12/03/2024 | Date of the F. Slootman 2024 Grantor Retained Annuity Trust |
| 03/17/2025 | Date of shares withheld to satisfy tax obligations |
| 03/18/2025 | Date of sale of shares pursuant to 10b5-1 trading plan |
| 03/19/2025 | Date of signature of the Form 4 filing |
Keywords
Form 4, Slootman, Snowflake, Stock Transactions, Beneficial Ownership, 10b5-1 Trading Plan
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