Form 4: Snowflake EVP Christian Kleinerman Reports Planned Stock Sales and Tax Withholdings

Snowflake Inc.'s EVP of Product Management, Christian Kleinerman, reported the disposition of 2,015 Class A Common Stock shares, including 548 sold under a pre-arranged 10b5-1 plan and 1,467 withheld for tax obligations related to RSU vesting.

Summary

• Christian Kleinerman, Executive Vice President of Product Management at Snowflake Inc. (SNOW), filed a Form 4 detailing recent transactions of Class A Common Stock.
• On June 9, 2025, Mr. Kleinerman disposed of 560 shares and 907 shares (totaling 1,467 shares) at a price of $210.84 per share. These dispositions represent shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock units (RSUs).
• On June 10, 2025, Mr. Kleinerman sold 548 shares at a price of $209.96 per share. This sale was executed pursuant to a Rule 10b5-1 trading plan adopted on December 19, 2024.
• Following these transactions, Mr. Kleinerman directly beneficially owns 568,617 shares of Class A Common Stock.
• Additionally, Mr. Kleinerman indirectly beneficially owns 33,499 shares through the Christian Kleinerman 2022 Grantor Retained Annuity Trust, 100,000 shares through the 2023 Grantor Retained Annuity Trust, 100,000 shares through the 2024 Grantor Retained Annuity Trust, and 53,568 shares through the Kleinerman 2020 Dynasty LLC.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While there's an insider sale, it was pre-planned under a 10b5-1 plan, which mitigates negative implications. The majority of dispositions were for tax withholding on RSU vesting, a routine event. The executive retains significant direct and indirect ownership.

Positives

• The vesting of restricted stock units (RSUs) indicates ongoing executive compensation and retention, aligning management's interests with shareholders.
• The executive continues to hold a substantial number of shares, both directly (568,617 shares) and indirectly (287,067 shares through trusts and an LLC), demonstrating significant vested interest in the company's performance.

Negatives

• The sale of 548 shares by an executive, even if pre-planned, represents a reduction in direct ownership, which can sometimes be perceived negatively by the market.

Risks

• While the sale was pre-planned under a 10b5-1 plan, any insider sale, regardless of reason, can sometimes lead to negative market sentiment or speculation if not clearly understood.

Future Outlook

N/A This Form 4 filing reports past transactions and does not provide forward-looking statements or guidance.

Industry Context

N/A This Form 4 filing details individual executive stock transactions and does not provide broader industry context or trends.

Related Party Transactions

• The filing discloses indirect beneficial ownership through the Christian Kleinerman 2022, 2023, and 2024 Grantor Retained Annuity Trusts (GRATs), for which the Reporting Person is the trustee.
• Indirect beneficial ownership is also disclosed through the Kleinerman 2020 Dynasty LLC, for which the Reporting Person is the manager and immediate family members are beneficiaries. These are common estate planning vehicles.

Stakeholder Impact

• Shareholders: The sale of shares by an executive, even if pre-planned, can sometimes lead to minor market speculation, though the impact is generally limited for 10b5-1 plan sales. The continued significant ownership by the executive may be viewed positively.
• Employees: The vesting of RSUs is a standard component of executive compensation, which can be seen as a positive for employee retention and motivation.

Key Dates

Keywords

Snowflake, SNOW, Form 4, insider trading, stock sale, executive compensation, Christian Kleinerman, RSU vesting, 10b5-1 plan, beneficial ownership