Form 4: Snowflake CEO Sridhar Ramaswamy Reports Share Transaction
SEC Form 4 Filing
Snowflake's CEO, Sridhar Ramaswamy, reported a transaction involving the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On June 17, 2024, Sridhar Ramaswamy, the CEO of Snowflake Inc., reported a transaction on Form 4.
- The transaction involved the disposition of 8,747 shares of Class A Common Stock at a price of $130.67.
- These shares were withheld to satisfy tax obligations related to the vesting of restricted stock units.
- Following the transaction, Ramaswamy beneficially owns 279,164 shares of Snowflake Inc.
- Ramaswamy has also granted a Power of Attorney to several individuals at Snowflake Inc. and Cooley LLP to handle SEC filings on his behalf.
Sentiment
Score: 7
Explanation: The document is a routine SEC filing related to executive compensation and share transactions, which is neutral to slightly positive as it reflects ongoing equity-based compensation.
Industry Context
Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation and share ownership.
Key Dates
| Date | Description |
|---|---|
| June 7, 2024 | Date of execution for the Power of Attorney. |
| June 17, 2024 | Date of the share transaction (disposal of shares for tax withholding). |
| June 20, 2024 | Date of signature for the Form 4 filing. |
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