Form 4: Snowflake Executive Benoit Dageville Executes Stock Transactions Under 10b5-1 Plan

Snowflake's President of Products, Benoit Dageville, executed multiple stock transactions, including option exercises, sales, and a gift, under a pre-arranged 10b5-1 trading plan.

Summary

• Benoit Dageville, President of Products at Snowflake Inc., engaged in several transactions involving Class A Common Stock on November 29, 2024.
• These transactions included the exercise of stock options to acquire 12,500 shares at $0.74 per share, the sale of 6,250 shares at $174.89 per share, and another 6,250 shares at $175 per share.
• Additionally, 1,875 shares were gifted at $0 per share.
• These transactions were executed under a 10b5-1 trading plan adopted on March 29, 2024.
• Following these transactions, Dageville directly owns 53,250 shares and indirectly owns 4,887,705 shares through a trust, and 594,863 stock options.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions by an executive, which is neither positive nor negative in itself. The use of a 10b5-1 plan indicates a planned and expected transaction.

Industry Context

This is a routine filing for executive stock transactions and is common practice for executives at publicly traded companies. The use of a 10b5-1 plan is a standard method for insiders to trade company stock while avoiding 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, similar to practices at companies such as Microsoft, Amazon, and Google.
• The reported transactions are typical for executives managing their personal portfolios and stock-based compensation.
• The prices at which the shares were sold are consistent with the market price of Snowflake stock at the time of the transaction.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders as they are part of a pre-arranged trading plan.
• The transactions do not impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Snowflake, Stock Transactions, Form 4, Benoit Dageville, 10b5-1 Trading Plan, Executive Stock, Class A Common Stock, Stock Options, Insider Trading