Form 4: Snowflake Director Frank Slootman Reports Stock Sales and Tax Withholding
Insider Transaction Report
Snowflake Inc. Director Frank Slootman reported the sale of 1,859 shares under a pre-arranged 10b5-1 trading plan and the withholding of 911 shares for tax obligations.
Summary
- Frank Slootman, a Director of Snowflake Inc. (SNOW), reported changes in his beneficial ownership of Class A Common Stock.
- On June 9, 2025, 911 shares were disposed of at a price of $210.84 per share. This transaction was to satisfy tax withholding obligations on the vesting of restricted stock units.
- On June 10, 2025, 1,859 shares were sold at a price of $209.96 per share. This sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Slootman on September 30, 2024.
- Following these transactions, Mr. Slootman directly beneficially owns 180,229 shares of Class A Common Stock.
- Additionally, Mr. Slootman indirectly beneficially owns shares through various entities: 1,173 shares via Invisible Hand Ventures, LLC; 83,014 shares via the Slootman Family Foundation; 335,146 shares via the Slootman Living Trust; 250,030 shares via the Slootman 2023 Grantor Retained Annuity Trust; 16,300 shares via the Slootman Grandchildren's Trust; 91,058 shares via the B. Slootman 2024 Grantor Retained Annuity Trust; and 91,058 shares via the F. Slootman 2024 Grantor Retained Annuity Trust.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive because the stock sale was pre-planned under a 10b5-1 plan, which reduces concerns about discretionary insider selling. The tax withholding is a routine event.
Positives
- The sale of 1,859 shares was conducted under a pre-arranged 10b5-1 trading plan, indicating it was not a discretionary sale based on new material non-public information, which generally mitigates negative interpretations of insider selling.
Negatives
- A director selling shares, even under a 10b5-1 plan, represents a decrease in their direct ownership stake in the company.
Risks
- No specific risks beyond the general risks associated with stock ownership and routine insider transactions are mentioned in this Form 4 filing.
Future Outlook
This Form 4 filing does not provide any forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
This filing is a routine insider transaction report for a director and does not provide information relevant to broader industry trends or competitive dynamics within the cloud data platform sector.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Insider Transaction Disclosure | The filing demonstrates compliance with Section 16(a) of the Securities Exchange Act of 1934, requiring directors to disclose changes in beneficial ownership. | 06/09/2025 | Ensures transparency regarding insider stock transactions, which is a core aspect of corporate governance and market integrity. |
Related Party Transactions
- Frank Slootman's indirect beneficial ownership includes shares held by Invisible Hand Ventures, LLC, the Slootman Family Foundation, the Slootman Living Trust, the Slootman 2023 Grantor Retained Annuity Trust, the Slootman Grandchildren's Trust, the B. Slootman 2024 Grantor Retained Annuity Trust, and the F. Slootman 2024 Grantor Retained Annuity Trust. These represent holdings by entities related to the reporting person.
Stakeholder Impact
- Shareholders: The sale of shares by a director, even if pre-planned, provides transparency into insider holdings. While a sale could be perceived negatively by some investors, the small volume relative to total shares outstanding and the pre-arranged 10b5-1 plan mitigate significant concern.
Key Dates
| Date | Description |
|---|---|
| 09/08/1999 | Date of the Slootman Living Trust. |
| 11/24/2010 | Date of the Slootman Family Foundation. |
| 07/28/2022 | Date of the Slootman Grandchildren's Trust. |
| 09/25/2023 | Date of the Slootman 2023 Grantor Retained Annuity Trust. |
| 09/30/2024 | Date the 10b5-1 trading plan was adopted by the Reporting Person. |
| 12/03/2024 | Date of the B. Slootman 2024 Grantor Retained Annuity Trust and the F. Slootman 2024 Grantor Retained Annuity Trust. |
| 06/09/2025 | Date of transaction for shares withheld to satisfy tax withholding obligations. |
| 06/10/2025 | Date of transaction for shares sold under the 10b5-1 plan. |
| 06/11/2025 | Date the Form 4 was signed by the Attorney-in-Fact. |
Keywords
Snowflake Inc., SNOW, Frank Slootman, Form 4, SEC Filing, Insider Trading, Beneficial Ownership, Stock Sale, 10b5-1 Plan, Restricted Stock Units, Tax Withholding
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