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

Snowflake's EVP of Product Management, Christian Kleinerman, sold 15,000 shares of common stock in late October and early November 2025, pursuant to a pre-arranged 10b5-1 trading plan.

Summary

• Christian Kleinerman, Executive Vice President of Product Management at Snowflake Inc. (SNOW), reported sales of common stock.
• On October 31, 2025, 5,000 shares were sold at a price of $275 per share.
• On November 3, 2025, an additional 10,000 shares were sold at a price of $277.73 per share.
• These transactions were executed under a Rule 10b5-1 trading plan adopted by Mr. Kleinerman on December 19, 2024.
• Following these sales, Mr. Kleinerman directly beneficially owns 522,450 shares, which includes shares to be issued from restricted stock unit vesting.
• Indirect beneficial ownership includes 38,568 shares held by the Kleinerman 2020 Dynasty LLC, 5,086 shares by the Christian Kleinerman 2022 Grantor Retained Annuity Trust, 100,000 shares by the Christian Kleinerman 2023 Grantor Retained Annuity Trust, and 100,000 shares by the Christian Kleinerman 2024 Grantor Retained Annuity Trust.

Sentiment

Score: 5

Explanation: The sales were conducted under a pre-arranged 10b5-1 trading plan, which typically indicates a planned diversification or liquidity event rather than a reaction to new material non-public information. While insider sales can sometimes be viewed negatively, the pre-planned nature mitigates this concern, leading to a neutral sentiment.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, demonstrating a structured approach to insider transactions and good corporate governance.

Negatives

• Christian Kleinerman, a key executive, sold a total of 15,000 shares of Snowflake common stock, which could be perceived by some investors as a negative signal, despite being pre-planned.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Christian Kleinerman's indirect beneficial ownership includes shares held by the Kleinerman 2020 Dynasty LLC, for which he is the manager and his immediate family members are beneficiaries.
• Indirect beneficial ownership also includes shares held by the Christian Kleinerman 2022, 2023, and 2024 Grantor Retained Annuity Trusts, for which he serves as trustee.

Stakeholder Impact

• Shareholders may interpret insider sales as a potential lack of confidence, though the pre-planned nature of these transactions under a 10b5-1 plan generally mitigates such concerns, suggesting routine financial planning rather than a reaction to company performance.

Key Dates

Recommendation

The reported insider sales by Christian Kleinerman, EVP of Product Management, were conducted under a pre-arranged 10b5-1 trading plan. Such plans are established in advance to allow insiders to sell shares without being accused of trading on material non-public information. Therefore, these sales are generally considered routine for diversification or liquidity purposes and do not typically signal a change in management's outlook on the company's fundamentals. Without additional information or a change in the company's operational performance, a 'hold' recommendation is appropriate as this filing alone does not provide a strong basis for a 'buy' or 'sell' decision.

Keywords

Snowflake, SNOW, Insider Trading, Form 4, Stock Sale, Christian Kleinerman, 10b5-1 Plan, Executive Compensation, Product Management