Form 4: Snowflake Executive Benoit Dageville Executes Stock Transactions Under 10b5-1 Plan
SEC Form 4 Filing
Snowflake's President of Products, Benoit Dageville, executed multiple transactions involving Class A Common Stock, including exercising stock options, selling shares, and gifting shares, all under a pre-arranged 10b5-1 trading plan.
Summary
- Benoit Dageville, President of Products at Snowflake Inc., engaged in several transactions involving the company's Class A Common Stock on December 26, 2024.
- These transactions included the exercise of stock options to acquire 6,250 shares at a price of $0.74 per share.
- He also sold 6,250 shares at a price of $162.64 per share.
- Additionally, Mr. Dageville gifted 1,875 shares.
- These transactions were executed under a 10b5-1 trading plan adopted on March 29, 2024.
- Following these transactions, Mr. Dageville directly owns 47,710 shares and indirectly owns 4,817,305 shares through a trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing detailing insider transactions, which is neutral in sentiment. The transactions are part of a pre-arranged plan, so there is no indication of positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions and is common for executives of publicly traded companies. The use of a 10b5-1 trading plan is a standard practice to avoid accusations of insider trading.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies like Snowflake, including peers such as Datadog, MongoDB, and Elastic.
- These plans allow insiders to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
- The reported transactions are typical for executives who receive stock options and restricted stock units as part of their compensation packages.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are part of a pre-arranged trading plan and do not indicate a change in the executive's long-term outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 2024-03-29 | Date the 10b5-1 trading plan was adopted by the reporting person. |
| 2024-12-26 | Date of the stock option exercise, sale, and gift transactions. |
| 2024-12-27 | Date the Form 4 was signed. |
| 2027-02-07 | Expiration date of the stock options. |
Keywords
Snowflake, Stock Transactions, Form 4, Benoit Dageville, 10b5-1 Trading Plan, Class A Common Stock, Stock Options, Insider Trading
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