Form 4: Snowflake EVP Sells Shares Under 10b5-1 Plan

Snowflake's EVP of Product Management, Christian Kleinerman, reported the disposition of 5,274 shares of common stock, including tax withholdings and a sale under a pre-arranged 10b5-1 trading plan.

Summary

• Christian Kleinerman, Executive Vice President of Product Management at Snowflake Inc. (SNOW), reported transactions involving the company's common stock.
• On September 22, 2025, 1,800 shares and 863 shares were disposed of to satisfy tax withholding obligations on the vesting of restricted stock units, both at a price of $230.48 per share.
• On September 23, 2025, 2,611 shares were sold at a price of $230.48 per share.
• The sale on September 23, 2025, was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Kleinerman on December 19, 2024.
• Following these transactions, Mr. Kleinerman directly beneficially owns 542,450 shares of common stock.
• Indirect beneficial ownership includes 5,086 shares through the Christian Kleinerman 2022 Grantor Retained Annuity Trust, 100,000 shares through the 2023 GRAT, 100,000 shares through the 2024 GRAT, and 48,568 shares through the Kleinerman 2020 Dynasty LLC.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While it involves insider selling, the transactions are routine, include tax withholdings, and a significant portion is under a pre-arranged 10b5-1 plan, indicating planned financial management rather than a reaction to new company-specific negative news. The executive also retains substantial holdings.

Positives

• The sale of 2,611 shares was conducted under a pre-arranged 10b5-1 trading plan, indicating a planned disposition rather than a reactive one, which can mitigate negative market perception.
• The executive retains a substantial beneficial ownership of 542,450 direct shares and 253,654 indirect shares, demonstrating continued alignment with shareholder interests.

Negatives

• The disposition of shares by an executive, even if planned, can sometimes be perceived negatively by investors as it represents a reduction in insider holdings.

Future Outlook

NA

Industry Context

This is a routine insider transaction report and does not provide broader industry context or trends. It reflects an individual executive's personal financial planning.

Related Party Transactions

• The executive holds shares indirectly through the Christian Kleinerman 2022 Grantor Retained Annuity Trust (5,086 shares), the Christian Kleinerman 2023 Grantor Retained Annuity Trust (100,000 shares), and the Christian Kleinerman 2024 Grantor Retained Annuity Trust (100,000 shares), for which the executive is the trustee.
• Shares are also held indirectly by the Kleinerman 2020 Dynasty LLC (48,568 shares), for which the executive is the manager and immediate family members are beneficiaries.

Stakeholder Impact

• Shareholders: May observe a minor impact on sentiment due to executive share disposition, though mitigated by the planned nature of the sale and continued significant ownership.
• Employees, customers, suppliers, creditors: No direct impact from this routine insider transaction report.

Key Dates

Recommendation

A 'hold' recommendation is appropriate as this Form 4 reports routine insider transactions, including tax-related dispositions and a sale under a pre-arranged 10b5-1 plan. These transactions are part of an executive's personal financial management and do not typically signal a change in the company's fundamental outlook or warrant a strong buy/sell decision. The executive retains substantial direct and indirect ownership, indicating continued alignment with the company's performance.

Keywords

Snowflake, SNOW, Insider Transaction, Form 4, Stock Sale, Executive Compensation, 10b5-1 Plan, Restricted Stock Units, Tax Withholding