Form 4: Snowflake Director Frank Slootman Executes Stock Transactions Under 10b5-1 Plan

Frank Slootman, a director at Snowflake Inc., executed multiple stock option exercises and sales of Class A Common Stock on January 21st and 22nd, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Frank Slootman, a director at Snowflake Inc., engaged in several transactions involving the company's Class A Common Stock.
• These transactions included the exercise of stock options and the subsequent sale of shares.
• The transactions were executed on January 21st and 22nd, 2025, under a 10b5-1 trading plan adopted on September 30, 2024.
• On January 21st, 72,753 shares were acquired through option exercises at $8.88 per share, and 71,422 shares were sold at a weighted average price of $175.353.
• An additional 1,331 shares were sold on January 21st at a weighted average price of $176.127.
• On January 22nd, 127,247 shares were acquired through option exercises at $8.88 per share.
• Sales on January 22nd included 49,473 shares at a weighted average price of $175.388, 56,555 shares at $176.63, and 21,219 shares at $177.229.
• Following these transactions, Mr. Slootman directly holds 195,281 shares and indirectly holds a significant number of shares through various entities including trusts and a foundation.

Sentiment

Score: 6

Explanation: The document reflects routine stock transactions by a company director under a pre-arranged plan. It is neither particularly positive nor negative, but rather a standard disclosure.

Industry Context

This is a routine filing for a director's stock transactions and is common practice for executives who have pre-arranged trading plans to avoid accusations of insider trading. The transactions are not unusual for a company of Snowflake's size and stage.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies, including those in the technology sector like Snowflake.
• Similar filings are regularly seen from directors and officers at companies like Amazon, Microsoft, and Google, where stock-based compensation is a significant part of executive pay.
• The volume of shares traded is within the expected range for a director's transactions, and the price ranges are consistent with the market price of Snowflake stock at the time of the transactions.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are part of a pre-arranged trading plan and do not indicate a change in the director's long-term view of the company.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Snowflake, Frank Slootman, stock options, 10b5-1 trading plan, Class A Common Stock, insider trading, SEC Form 4, stock sales, equity transactions