Form 4: Snowflake Director Frank Slootman Reports Share Transactions

Frank Slootman, a director at Snowflake Inc., reported the acquisition of 1,173 Class A Common Stock shares and details of his beneficial ownership through various trusts and entities.

Summary

• Frank Slootman, a director at Snowflake Inc., filed a Form 4 disclosing a transaction on December 19, 2024.
• He acquired 1,173 shares of Class A Common Stock at $0, which are related to the vesting of restricted stock units.
• The filing also details his beneficial ownership of Snowflake shares through various entities, including Invisible Hand Ventures, LLC, the Slootman Family Foundation, and several trusts.
• These holdings include 195,281 shares directly owned, 1,173 shares indirectly owned through Invisible Hand Ventures, 83,014 shares through the Slootman Family Foundation, and 772,488 shares through various trusts.
• The total indirect holdings are 947,675 shares.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard transactions and holdings. There is no indication of positive or negative sentiment, but the transparency is a positive.

Positives

• The acquisition of shares through vesting of restricted stock units indicates continued alignment of interests between the director and the company.
• The detailed disclosure provides transparency into the director's holdings and beneficial ownership.

Industry Context

Form 4 filings are a standard part of regulatory compliance for company insiders, providing transparency into their transactions and holdings. This filing is typical for a director of a publicly traded company.

Comparison to Industry Standards

• Form 4 filings are a common practice for directors and officers of publicly traded companies like Snowflake, similar to filings made by insiders at companies such as Microsoft, Amazon, and Google.
• The level of detail provided in this filing, including the various trusts and entities through which shares are held, is consistent with the reporting requirements for beneficial ownership.
• The transaction of acquiring shares through vesting of restricted stock units is a standard form of compensation for executives and directors in the tech industry.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the director's holdings.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Snowflake, Frank Slootman, Form 4, Beneficial Ownership, Class A Common Stock, Director, Restricted Stock Units, Trusts, Invisible Hand Ventures, Slootman Family Foundation