Form 4: Snowflake Chief Revenue Officer Christopher Degnan Reports Stock Transfers and Tax Withholding

Christopher Degnan, Chief Revenue Officer of Snowflake Inc., reported multiple transactions involving Class A Common Stock, including transfers to family trusts and shares withheld for tax obligations.

Summary

• Christopher Degnan, the Chief Revenue Officer of Snowflake Inc., filed a Form 4 detailing changes in his beneficial ownership of Snowflake's Class A Common Stock.
• On June 20, 2024, shares were withheld to cover tax obligations related to the vesting of restricted stock units, with 1,353 shares withheld at $130.67 and 866 shares withheld at $126.62.
• Degnan also transferred 100,589 shares to The Sudbury Trust, 50,000 shares to The Fairbanks GRAT No. I, and 50,000 shares to The Sherborne GRAT No. I, all from The Degnan Family Trust on the same date.
• Following these transactions, Degnan directly owns 350,803 shares and indirectly owns 139,563 shares through various family trusts.
• The report also indicates indirect ownership of 120,000 shares through The Degnan Family Gift Trust, 50,000 shares through The Sherborne GRAT No. I, 50,000 shares through The Fairbanks GRAT No. I, and 100,589 shares through The Sudbury Trust.
• Marie Reider, Attorney-in-Fact, signed the report on June 24, 2024.

Sentiment

Score: 5

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

Industry Context

This filing is a routine disclosure related to executive compensation and estate planning, common among publicly traded companies. It provides transparency into the stock ownership of key personnel.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership structure, but the overall impact is likely minimal.

Key Dates