Form 4: Snowflake Chief Revenue Officer Christopher Degnan Reports Stock Transactions

Snowflake's Chief Revenue Officer, Christopher Degnan, reported the disposal of 659 Class A Common Stock shares to cover tax obligations and holds a significant number of shares both directly and indirectly through various trusts.

Summary

• Christopher Degnan, Chief Revenue Officer of Snowflake Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On December 9, 2024, Mr. Degnan disposed of 659 Class A Common Stock shares at a price of $183.64 per share to satisfy tax withholding obligations related to vesting restricted stock units.
• Following the transaction, Mr. Degnan directly owns 319,237 shares of Class A Common Stock.
• He also indirectly owns 139,563 shares through The Degnan Family Trust, 120,000 shares through Degnan Gift Trust, 50,000 shares through Fairbanks GRAT No. I, 50,000 shares through Sherborne GRAT No. I, and 100,589 shares through The Sudbury Trust.
• These indirect holdings are managed through various trusts where Mr. Degnan or his family members are either trustees, beneficiaries, or investment advisors.

Sentiment

Score: 5

Explanation: The document is a neutral report of a routine stock transaction by an executive, with no indication of positive or negative sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the ownership changes of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, and Snowflake's filing is consistent with these requirements.
• The level of detail provided in the filing, including the breakdown of direct and indirect holdings through various trusts, is typical for executive stock ownership disclosures.
• Other technology companies with similar executive compensation structures would have similar filings when their executives transact in company stock.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale of shares to cover tax obligations.
• The filing provides transparency to stakeholders regarding the stock ownership of company executives.

Key Dates

Keywords

Snowflake, Christopher Degnan, Form 4, stock transaction, beneficial ownership, Class A Common Stock, restricted stock units, trusts, insider trading