Form 4: Snowflake Director Sells Shares Under 10b5-1 Plan
Insider Transaction Report
Snowflake Inc. Director Michael L. Speiser sold a total of 50,940 common shares on November 7, 2025, through a pre-arranged 10b5-1 trading plan.
Summary
- Michael L. Speiser, a Director of Snowflake Inc. (SNOW), reported the sale of common stock.
- A total of 50,940 shares of common stock were disposed of on November 7, 2025.
- The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Speiser on December 27, 2024.
- Shares were sold at weighted-average prices of $261.494 (ranging from $261.220 to $261.550) and at a price of $257.
- Following these transactions, Mr. Speiser's beneficial ownership includes shares held directly and indirectly through various trusts and a limited partnership.
Sentiment
Score: 5
Explanation: The sentiment is neutral. This Form 4 reports a routine, pre-scheduled insider sale under a 10b5-1 plan, which is typically for personal financial management and not indicative of a change in the insider's view of the company's prospects.
Future Outlook
This Form 4 filing reports historical insider transactions and does not contain any forward-looking statements or guidance regarding Snowflake Inc.'s future performance or outlook.
Industry Context
This filing is specific to an insider transaction at Snowflake Inc. and does not provide broader industry context or trends. Insider sales under 10b5-1 plans are a common practice for corporate executives and directors for personal financial planning and diversification.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Insider Trading Plan Disclosure | The sales were conducted under a Rule 10b5-1 trading plan, adopted on December 27, 2024. This plan allows insiders to pre-arrange sales of company stock to avoid accusations of trading on material non-public information. | 12/27/2024 | The use of a 10b5-1 plan demonstrates adherence to best practices in corporate governance regarding insider trading, providing transparency and mitigating potential conflicts of interest. |
Stakeholder Impact
- Shareholders: The sale represents a minor reduction in a director's overall beneficial ownership, executed under a pre-planned arrangement, and is unlikely to have a significant impact on shareholder sentiment or company valuation.
Key Dates
| Date | Description |
|---|---|
| 12/27/2024 | Date the 10b5-1 trading plan was adopted by the Reporting Person. |
| 11/07/2025 | Date of the reported common stock transactions (sales). |
| 11/10/2025 | Date the Form 4 was signed. |
Keywords
Snowflake, SNOW, Form 4, Insider Trading, Share Sale, Director, 10b5-1 Plan, Beneficial Ownership
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