Form 4: Snowflake Executive Christian Kleinerman Reports Stock Transactions
SEC Form 4
EVP of Product Management at Snowflake, Christian Kleinerman, reports acquisition and disposal of Class A Common Stock, including transactions related to tax obligations, vesting of restricted stock units, and sales under a 10b5-1 trading plan.
Summary
- Christian Kleinerman, EVP of Product Management at Snowflake Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On March 10, 2025, Kleinerman disposed of 423 shares of Class A Common Stock at $158.91 to cover tax obligations related to vesting restricted stock units.
- On the same day, he acquired 28,744 shares of Class A Common Stock at $0 related to restricted stock units vesting quarterly over four years.
- On March 11, 2025, Kleinerman sold 685 shares of Class A Common Stock at $147.24 under a pre-arranged 10b5-1 trading plan.
- Following these transactions, Kleinerman directly owns 622,611 shares of Class A Common Stock.
- He also indirectly owns shares through several Grantor Retained Annuity Trusts (GRATs) and an LLC.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and pre-planned stock sales. There's no indication of unusual or concerning activity.
Positives
- The acquisition of 28,744 shares through restricted stock units indicates continued alignment with the company's long-term success.
Future Outlook
The restricted stock units will continue to vest quarterly over four years, subject to continuous service.
Industry Context
Form 4 filings are standard practice for company insiders and provide transparency into their trading activities. The use of 10b5-1 trading plans is common to avoid accusations of insider trading.
Comparison to Industry Standards
- The vesting schedule of the restricted stock units (quarterly over four years) is a fairly standard practice in the tech industry for employee equity compensation.
- The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, including peers like Datadog, Okta, and MongoDB, to manage their stock sales in compliance with insider trading regulations.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares being traded.
- Employees holding Snowflake stock may be interested in the vesting schedule of the restricted stock units.
Key Dates
| Date | Description |
|---|---|
| 2022-06-24 | Date of the Christian Kleinerman 2022 Grantor Retained Annuity Trust |
| 2023-09-01 | Date of the Christian Kleinerman 2023 Grantor Retained Annuity Trust |
| 2023-12-22 | Date the Reporting Person adopted 10b5-1 trading plans |
| 2024-12-20 | Date of the Christian Kleinerman 2024 Grantor Retained Annuity Trust |
| 2025-03-10 | Date of stock disposal for tax obligations and acquisition of restricted stock units |
| 2025-03-11 | Date of stock sale under 10b5-1 trading plan |
| 2025-03-12 | Date of signature for the Form 4 filing |
| 2025-06-08 | First quarterly vesting date for restricted stock units |
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