Form 4: Snowflake CFO Michael Scarpelli Reports Stock Transactions

CFO of Snowflake, Michael Scarpelli, reports the withholding of shares to cover tax obligations and discloses beneficial ownership of company stock and stock options.

Summary

• On June 17, 2024, Michael Scarpelli, the CFO of Snowflake Inc., reported a transaction involving Class A Common Stock.
• 1,445 shares were withheld to satisfy tax obligations related to the vesting of restricted stock units at a price of $130.67.
• Following the transaction, Scarpelli directly owns 172,293 shares of Class A Common Stock.
• Scarpelli also indirectly owns shares through various trusts for his children, a family trust, and a grantor retained annuity trust.
• The report also discloses Scarpelli's ownership of stock options, including options exercisable at $8.88 and $207.56.
• He owns options to buy 2,019,299 shares at $8.88 and 69,569 shares at $207.56.
• The options vest over 48 months.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Positives

• The disclosure of stock ownership provides transparency to investors.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into the transactions and holdings of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring compliance with SEC regulations.
• Similar filings are made by executives at comparable companies like Datadog, MongoDB, and Okta, providing insights into their stock ownership and transactions.
• The vesting schedules and option exercise prices are typical for executive compensation packages in the tech industry.

Stakeholder Impact

• Shareholders gain insight into the financial transactions of key executives.
• Employees may be interested in the stock ownership and option holdings of the CFO.

Key Dates