Form 4: Snowflake Executive Sells Shares and Exercises Options Under 10b5-1 Plan

A Snowflake executive, Benoit Dageville, executed stock option exercises and sales of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• Benoit Dageville, President of Products at Snowflake, engaged in multiple transactions involving Class A Common Stock.
• On January 21, 2025, Dageville exercised options to acquire 18,750 shares at $0.74 per share and then sold the same amount at $175 per share.
• On January 23, 2025, Dageville exercised options to acquire 12,500 shares at $0.74 per share and then sold the same amount at $175.10 per share.
• Also on January 23, 2025, Dageville gifted 9,375 shares.
• These transactions were conducted under a 10b5-1 trading plan adopted on March 29, 2024.
• The transactions resulted in a change in Dageville's direct and indirect holdings of Snowflake stock.

Sentiment

Score: 5

Explanation: The document reflects routine transactions under a pre-arranged plan, indicating a neutral sentiment. There is no indication of positive or negative sentiment from the transactions themselves.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies, and the use of 10b5-1 plans is a standard practice to avoid accusations of insider trading. These transactions are often monitored by investors for insights into executive sentiment and potential future actions.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, including technology firms like Snowflake.
• The reported transactions are similar to those seen at other companies such as Microsoft, Google, and Amazon, where executives regularly exercise stock options and sell shares.
• The prices at which the shares were sold are consistent with market prices at the time of the transactions.

Stakeholder Impact

• The transactions may have a minor impact on the stock price, but are unlikely to significantly affect shareholders due to the pre-planned nature of the sales.
• The transactions do not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Snowflake, Benoit Dageville, stock options, 10b5-1 plan, insider trading, Class A Common Stock, executive compensation, share sales