Form 4: Snowflake Director Frank Slootman Executes Significant Option Exercises and Share Sales Under Pre-Arranged Plan

Snowflake Inc. Director Frank Slootman completed the exercise of stock options and subsequent sale of 424,196 shares of common stock on July 7 and 8, 2025, as part of a pre-established 10b5-1 trading plan.

Summary

• Frank Slootman, a Director of Snowflake Inc. (SNOW), reported transactions involving the company's common stock.
• On July 7, 2025, Slootman exercised options to acquire 323,713 shares of common stock at an exercise price of $8.88 per share.
• Concurrently on July 7, 2025, he sold 323,713 shares of common stock in multiple transactions at weighted-average prices ranging from $221.093 to $225.616 per share.
• On July 8, 2025, Slootman exercised options to acquire an additional 100,483 shares of common stock at an exercise price of $8.88 per share.
• Also on July 8, 2025, he sold 100,483 shares of common stock in multiple transactions at weighted-average prices ranging from $221.379 to $226.023 per share.
• All exercises and sales were conducted pursuant to a Rule 10b5-1 trading plan adopted on March 26, 2025.
• Following these transactions, Frank Slootman directly holds 165,507 shares of common stock.
• Indirect beneficial ownership includes 6,384 shares via Invisible Hand Ventures, LLC, 83,014 shares via Slootman Family Foundation, 335,146 shares via Slootman Living Trust, 250,030 shares via Slootman 2023 Grantor Retained Annuity Trust, 91,058 shares via B. Slootman 2024 Grantor Retained Annuity Trust, 91,058 shares via F. Slootman 2024 Grantor Retained Annuity Trust, and 16,300 shares via Slootman Grandchildren's Trust.
• Remaining stock options (right to buy) total 8,061,493 shares, all of which are fully vested with an exercise price of $8.88 and an expiration date of May 28, 2029.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it involves insider selling, it's a pre-planned exercise-and-sell transaction to realize gains from vested options, which is a common and expected part of executive compensation. It does not suggest a lack of confidence in the company.

Positives

• The transactions were executed under a pre-arranged Rule 10b5-1 trading plan, indicating a systematic approach to managing equity holdings rather than a reactive sale.
• The sales were conducted at significantly higher prices (ranging from $221.093 to $226.023) compared to the option exercise price ($8.88), demonstrating substantial realized gains for the insider.

Negatives

• The sale of a large number of shares by a director, even if pre-planned, could be perceived by some investors as a reduction in direct exposure to the company's stock.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This Form 4 filing details routine insider transactions, specifically the exercise of stock options and subsequent sale of shares, which is a common practice for executives and directors to realize value from their equity compensation. It does not provide information on broader industry trends or competitive landscape.

Related Party Transactions

• Shares are held indirectly by Invisible Hand Ventures, LLC, where the Reporting Person is the manager with sole voting and dispositive power.
• Shares are held indirectly by the Slootman Family Foundation dated 11/24/2010, for which the Reporting Person has voting and investment power but no personal pecuniary interest.
• Shares are held indirectly by the Slootman Living Trust dated 9/8/1999, for which the Reporting Person is a trustee.
• Shares are held indirectly by the Slootman 2023 Grantor Retained Annuity Trust dated 9/25/23, for which the Reporting Person is a trustee.
• Shares are held indirectly by the B. Slootman 2024 Grantor Retained Annuity Trust dated 12/3/2024, for which the Reporting Person's spouse is the trustee.
• Shares are held indirectly by the F. Slootman 2024 Grantor Retained Annuity Trust dated 12/3/2024, for which the Reporting Person is the trustee.
• Shares are held indirectly by the Slootman Grandchildren's Trust dated 7/28/2022, for which the Reporting Person is a trustee.

Stakeholder Impact

• Shareholders: Disclosure of insider trading activity provides transparency into how company executives are managing their equity holdings, which can influence investor sentiment and potentially share price.

Key Dates

Keywords

Snowflake, SNOW, Form 4, Insider Trading, Stock Options, Beneficial Ownership, Frank Slootman, 10b5-1 Plan, Equity Compensation