Form 4: Snowflake EVP Christian Kleinerman Sells Over $3 Million in Stock Under Pre-Arranged Trading Plan
Insider Trading Report
Snowflake Inc.'s EVP of Product Management, Christian Kleinerman, reported the sale of 15,000 shares of Class A Common Stock totaling over $3 million, executed under a pre-established 10b5-1 trading plan.
Summary
- Christian Kleinerman, EVP, Product Management at Snowflake Inc. (SNOW), reported the sale of 15,000 shares of Class A Common Stock.
- On May 22, 2025, 5,000 shares were sold at a price of $200.00 per share.
- On June 2, 2025, an additional 10,000 shares were sold at a price of $205.67 per share.
- The total value of the shares sold amounts to $3,056,700.
- These sales were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Kleinerman on December 19, 2024.
- Following these transactions, Mr. Kleinerman beneficially owns 570,632 shares directly, and 287,067 shares indirectly through various trusts and an LLC, for a total of 857,700 shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive because the sales were pre-planned under a 10b5-1 trading plan, which mitigates concerns typically associated with insider selling. It indicates a planned liquidity event rather than a reaction to negative company news.
Positives
- The sales were executed under a pre-arranged 10b5-1 trading plan, indicating a planned liquidity event rather than a reaction to new negative information.
Negatives
- Insider selling, even under a 10b5-1 plan, can sometimes be perceived negatively by investors as it reduces the insider's direct stake in the company.
Related Party Transactions
- Christian Kleinerman holds shares indirectly through the Kleinerman 2020 Dynasty LLC, the Christian Kleinerman 2022 Grantor Retained Annuity Trust, the Christian Kleinerman 2023 Grantor Retained Annuity Trust, and the Christian Kleinerman 2024 Grantor Retained Annuity Trust, for which he is the manager or trustee.
Stakeholder Impact
- Shareholders may observe a slight reduction in direct insider ownership, though the pre-planned nature of the sales under a 10b5-1 plan typically lessens concerns about management's confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 2022-06-24 | Date of Christian Kleinerman 2022 Grantor Retained Annuity Trust. |
| 2023-09-01 | Date of Christian Kleinerman 2023 Grantor Retained Annuity Trust. |
| 2024-12-19 | Date the 10b5-1 trading plan was adopted by Christian Kleinerman. |
| 2024-12-20 | Date of Christian Kleinerman 2024 Grantor Retained Annuity Trust. |
| 2025-05-22 | Date of the first reported transaction: sale of 5,000 shares of Class A Common Stock. |
| 2025-06-02 | Date of the second reported transaction: sale of 10,000 shares of Class A Common Stock. |
| 2025-06-04 | Date the Form 4 filing was signed. |
Recommendation
holdKeywords
Snowflake Inc., SNOW, SEC Form 4, Insider Trading, Stock Sale, Christian Kleinerman, 10b5-1 Plan, Executive Compensation, Beneficial Ownership, Cloud Data Platform
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