Form 4: Snowflake Executive Benoit Dageville Reports Stock Option Exercise and Share Sales Under 10b5-1 Plan

Snowflake Inc.'s President of Products and Director, Benoit Dageville, reported the exercise of stock options and subsequent sale and gift of common stock, all executed under a pre-arranged 10b5-1 trading plan.

Summary

• Benoit Dageville, President of Products and Director at Snowflake Inc. (SNOW), reported transactions on July 10, 2025.
• Exercised stock options to acquire 25,000 shares of common stock at an exercise price of $0.74 per share.
• Sold 25,000 shares of common stock at a price of $221.83 per share.
• Gifted 7,500 shares of common stock at a price of $0 per share.
• All reported transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on March 28, 2025.
• Following these transactions, direct beneficial ownership of common stock is 58,325 shares.
• Indirect beneficial ownership includes 3,176,555 shares held by The Snow Trust UTA, 750,000 shares held by The Thira GRAT No. 1 (beneficial ownership disclaimed), and 750,000 shares held by The Selene GRAT No. 1.
• The stock option exercised was fully vested.
• Beneficial ownership figures include shares to be issued in connection with the vesting of one or more restricted stock units.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The transactions are routine insider activity under a 10b5-1 plan, indicating pre-planned equity management. The sale of shares is offset by the exercise of options and significant remaining holdings, suggesting a structured approach rather than a negative signal.

Positives

• The exercise of stock options at a low price of $0.74 per share indicates a significant unrealized gain for the executive.
• The sale of shares at $221.83 per share demonstrates the executive's ability to monetize a portion of their equity holdings at a favorable market price.
• All transactions were executed under a pre-arranged 10b5-1 trading plan, which signals a structured and compliant approach to insider trading, reducing concerns about opportunistic selling.

Negatives

• The sale of 25,000 shares by a key executive, even under a 10b5-1 plan, represents a reduction in their direct equity stake in the company.
• The gift of 7,500 shares further reduces the executive's direct beneficial ownership.

Future Outlook

NA

Industry Context

NA

Corporate Governance

Related Party Transactions

• Shares are held by The Snow Trust UTA dated 9/10/19 for which the Reporting Person is a trustee.
• Shares are held by The Thira GRAT No. 1 dated 3/13/2025 for which the Reporting Person's spouse is the trustee, with the Reporting Person disclaiming beneficial ownership.
• Shares are held by The Selene GRAT No. 1 dated 3/13/2025 for which the Reporting Person is the trustee.

Stakeholder Impact

• Shareholders: Routine insider transactions under a 10b5-1 plan typically have minimal direct impact on share price, but the sale of shares by a key executive could be viewed with slight caution, though mitigated by the pre-planned nature and significant remaining holdings.

Key Dates

Recommendation

Keywords

Snowflake, SNOW, Form 4, Insider Trading, Stock Option Exercise, Share Sale, Executive Compensation, Benoit Dageville, 10b5-1 Plan, Corporate Governance