Form 4: Snowflake Director Mark Garrett Reports Changes in Beneficial Ownership
SEC Form 4
Director Mark Garrett reports transactions involving Snowflake Inc. Class A Common Stock, including the vesting of restricted stock units and transfers of shares held in trust.
Summary
- On July 2, 2024, Mark Garrett, a director of Snowflake Inc., reported changes in beneficial ownership of Class A Common Stock.
- The transactions include the acquisition of 2,292 shares representing restricted stock units vesting at $0, and the holding of 7,428 shares directly.
- Garrett also indirectly owns shares through several trusts for the benefit of his children.
- These trusts hold 30,252 or 30,253 shares each.
- A power of attorney was executed on June 6, 2024, granting certain individuals the authority to file SEC forms on Garrett's behalf.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing changes in beneficial ownership, which carries a neutral sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and is a standard practice for directors and officers of publicly traded companies.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the ownership stake of a key company director.
Key Dates
| Date | Description |
|---|---|
| June 6, 2024 | Date of execution of Power of Attorney. |
| May 29, 2024 | Date of transfer of shares from the Garrett Family Investment Partnership, L.P. |
| July 2, 2024 | Date of transaction involving Class A Common Stock and vesting of restricted stock units. |
| 2025 | Restricted stock units will vest in full on the earlier of (i) the date of the annual meeting of the Issuer's stockholders to be held in 2025 (or the date immediately prior to such meeting if the Reporting Person's service as a director ends at such meeting due to the Reporting Person's failure to be re-elected or the Reporting Person not standing for re-election), or (ii) the first anniversary of the date of grant; subject to the Reporting Person's continued service through such date. |
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