Form 4: Snowflake EVP Christian Kleinerman Reports Stock Sales and Tax Withholding
SEC Form 4 Filing
Christian Kleinerman, EVP of Product Management at Snowflake Inc., reported the sale of shares to cover tax obligations and sales under a pre-arranged 10b5-1 trading plan.
Summary
- Christian Kleinerman, EVP of Product Management at Snowflake Inc., filed a Form 4 detailing changes in beneficial ownership.
- On March 15, 2024, 5,084 shares of Class A Common Stock were withheld to cover tax obligations at a price of $156.97 per share.
- On March 18, 2024, an additional 6,314 shares were withheld for taxes at $156.97 per share.
- Also on March 18, 2024, 6,144 shares were sold at a weighted average price of $156.746, and 6,492 shares were sold at a weighted average price of $157.87.
- These sales were executed under a 10b5-1 trading plan adopted on June 30, 2022.
- Following these transactions, Kleinerman directly owns 748,257 shares of Class A Common Stock.
- He also indirectly owns 58,568 shares through the Kleinerman 2020 Dynasty LLC, 75,307 shares through the Christian Kleinerman 2022 Grantor Retained Annuity Trust, and 100,000 shares through the Christian Kleinerman 2023 Grantor Retained Annuity Trust.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of stock transactions by an executive, with no inherently positive or negative implications.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 06/30/2022 | Date of adoption of the 10b5-1 trading plan. |
| 03/15/2024 | Date of tax withholding of 5,084 shares. |
| 03/18/2024 | Date of tax withholding of 6,314 shares and sale of 12,636 shares. |
| 03/19/2024 | Date of signature on the Form 4 filing. |
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