Form 4: Snowflake Executive Sells Shares Under Pre-Arranged Trading Plan

Christian Kleinerman, EVP of Product Management at Snowflake Inc., reported the sale of Class A Common Stock and shares withheld for tax obligations, all executed under a Rule 10b5-1 trading plan.

Summary

• Christian Kleinerman, Executive Vice President of Product Management at Snowflake Inc. (SNOW), filed a Form 4 detailing recent transactions involving the company's Class A Common Stock.
• On June 20, 2025, a total of 2,663 shares (1,800 and 863 shares) were disposed of at a price of $212.08 per share to satisfy tax withholding obligations related to the vesting of restricted stock units.
• On June 23, 2025, a total of 2,610 shares (845 and 1,765 shares) were sold at a price of $209.87 per share.
• All sales reported in this Form 4 were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Kleinerman on December 19, 2024.
• Following these transactions, Mr. Kleinerman directly beneficially owns 557,336 shares of Class A Common Stock.
• Additionally, Mr. Kleinerman indirectly beneficially owns 33,499 shares through the Christian Kleinerman 2022 Grantor Retained Annuity Trust, 100,000 shares through the Christian Kleinerman 2023 Grantor Retained Annuity Trust, 100,000 shares through the Christian Kleinerman 2024 Grantor Retained Annuity Trust, and 53,568 shares through the Kleinerman 2020 Dynasty LLC.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While insider sales can sometimes be viewed negatively, the execution under a pre-arranged 10b5-1 plan mitigates concerns about the timing or motivation of the sales. The executive also retains substantial beneficial ownership.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating that the transactions were scheduled in advance and not based on new, non-public information.
• The executive retains a significant beneficial ownership stake in Snowflake Inc., both directly and indirectly, demonstrating continued alignment with shareholder interests.

Negatives

• The sale of shares by an executive, even under a 10b5-1 plan, can sometimes be perceived negatively by the market as it reduces insider ownership.

Future Outlook

This document does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This Form 4 filing is specific to an individual executive's stock transactions at Snowflake Inc. and does not provide broader insights into industry trends or competitive landscape.

Related Party Transactions

• Shares are held indirectly by the Christian Kleinerman 2022 Grantor Retained Annuity Trust, for which the Reporting Person is the trustee.
• Shares are held indirectly by the Christian Kleinerman 2023 Grantor Retained Annuity Trust, for which the Reporting Person is the trustee.
• Shares are held indirectly by the Christian Kleinerman 2024 Grantor Retained Annuity Trust, for which the Reporting Person is the trustee.
• Shares are held indirectly by the Kleinerman 2020 Dynasty LLC, for which the Reporting Person is the manager and immediate family members are beneficiaries.

Stakeholder Impact

• Shareholders: The sale of shares by an executive could be interpreted as a slight reduction in insider confidence, though the 10b5-1 plan mitigates this. The executive still holds a significant stake.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Recommendation

Keywords

Snowflake Inc., SNOW, Form 4, Insider Trading, Stock Sale, Christian Kleinerman, 10b5-1 Plan, Executive Compensation, Restricted Stock Units, Beneficial Ownership