Form 4: Snowflake CFO Michael Scarpelli Discloses Routine Stock Transaction for Tax Purposes
Insider Transaction Report
Snowflake Inc.'s Chief Financial Officer, Michael Scarpelli, reported the disposition of 787 Class A Common Stock shares at $210.84 to cover tax obligations related to restricted stock unit vesting.
Summary
- Michael Scarpelli, Chief Financial Officer of Snowflake Inc. (SNOW), filed a Form 4 with the SEC.
- The filing details a transaction on June 9, 2025, where 787 shares of Class A Common Stock were disposed of.
- These shares were withheld at a price of $210.84 per share to satisfy tax withholding obligations upon the vesting of restricted stock units (RSUs).
- Following this transaction, Mr. Scarpelli directly beneficially owns 291,823 shares of Class A Common Stock, which includes shares issued in connection with the vesting of one or more restricted stock units.
- He also holds significant indirect beneficial ownership through various trusts, including the 2020 Fintail Irrevocable GST Exempt Trusts, 2020 Fintail Irrevocable Non-Exempt Trusts, Michael P. Scarpelli 2019 Grantor Retained Annuity Trusts, and the Scarpelli Family Trust, as well as shares held by his spouse.
- The report voluntarily discloses outstanding stock options: 1,319,299 shares with an exercise price of $8.88 (fully vested) and 69,569 shares with an exercise price of $207.56 (vesting in 48 equal monthly installments beginning March 8, 2022).
Sentiment
Score: 5
Explanation: The filing reports a routine transaction for tax withholding upon RSU vesting, which is a neutral event for the company's operational performance. It reflects compensation for the executive.
Positives
- The transaction represents the vesting of restricted stock units, indicating the executive is receiving compensation as part of their employment agreement.
- The CFO continues to hold a substantial number of shares directly and indirectly, aligning his interests with those of other shareholders.
Negatives
- A small number of shares were disposed of, which is a routine reduction in direct beneficial ownership due to tax withholding.
Stakeholder Impact
- The transaction is a routine tax-related event for executive compensation and is unlikely to have a material impact on shareholders, employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 09/12/2019 | Date of Michael P. Scarpelli 2019 Grantor Retained Annuity Trust creation. |
| 12/29/2020 | Date of 2020 Fintail Irrevocable GST Exempt Trusts and 2020 Fintail Irrevocable Non-Exempt Trusts creation. |
| 03/08/2022 | Start date for monthly vesting of 69,569 stock options. |
| 06/09/2025 | Date of reported transaction (shares withheld for tax on RSU vesting). |
| 06/11/2025 | Signature date of the filing. |
| 08/26/2029 | Expiration date of 1,319,299 stock options. |
| 03/08/2032 | Expiration date of 69,569 stock options. |
Keywords
Snowflake, SNOW, Form 4, insider transaction, Michael Scarpelli, Chief Financial Officer, restricted stock units, RSU vesting, stock options, beneficial ownership, tax withholding
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