Form 4: Snowflake CFO Michael Scarpelli Reports Tax-Related Stock Disposals and Beneficial Ownership

Michael Scarpelli, CFO of Snowflake Inc., reports disposals of Class A Common Stock to cover tax obligations and details his beneficial ownership, including shares held directly, indirectly through trusts, and stock options.

Summary

• On March 17, 2025, Michael Scarpelli, the CFO of Snowflake Inc., reported the disposal of 1,581 and 1,469 shares of Class A Common Stock at a price of $156.11 per share to satisfy tax withholding obligations on vesting restricted stock units.
• Following these transactions, Scarpelli directly owns 322,297 shares of Class A Common Stock.
• Scarpelli also indirectly owns shares through various trusts for the benefit of his children and family, including the 2020 Fintail Irrevocable GST Exempt Trusts, the 2020 Fintail Irrevocable Non-Exempt Trusts, and the Scarpelli Family Trust.
• He also indirectly owns shares through Irrevocable Trusts created under the Michael P. Scarpelli 2019 Grantor Retained Annuity Trust.
• Scarpelli holds stock options for 2,019,299 shares exercisable at $8.88, which are fully vested, and options for 69,569 shares exercisable at $207.56, vesting in monthly installments from March 8, 2022.

Sentiment

Score: 7

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. The information is factual and provides transparency into the executive's stock transactions and holdings.

Positives

• The document provides a detailed overview of the CFO's holdings, including direct and indirect ownership, as well as stock options.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies like Snowflake, similar to filings made by executives at companies like Microsoft (MSFT), Amazon (AMZN), and Google (GOOGL).
• The level of detail provided, including indirect ownership through trusts, is consistent with regulatory requirements and best practices for transparency.
• The vesting schedules and exercise prices of stock options are typical components of executive compensation packages in the tech industry.

Stakeholder Impact

• Shareholders gain insight into the financial transactions and holdings of a key executive, which can influence investor confidence.
• The disclosure of indirect ownership through trusts provides transparency regarding the executive's overall stake in the company.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Options, Tax Withholding, Michael Scarpelli, Snowflake, SNOW, CFO, Class A Common Stock