Form 4: Snowflake Executive Trades Shares

Snowflake Inc. EVP Christian Kleinerman reported transactions involving company common stock, including sales and acquisitions related to tax withholding and a 10b5-1 trading plan.

Summary

• EVP of Product Management, Christian Kleinerman, reported several transactions of Snowflake Inc. common stock on June 22nd and June 23rd, 2026.
• On June 22nd, 1,793 shares were acquired and 859 shares were acquired, both at a price of $232.29, with these transactions marked as 'F' (likely related to restricted stock unit vesting and tax withholding).
• On June 23rd, 2,621 shares were sold at $228.45, executed under a Rule 10b5-1 trading plan adopted on December 26, 2025.
• Following these transactions, Kleinerman beneficially owns 400,379 shares directly, with additional holdings indirectly through various LLCs and trusts, including the Kleinerman 2020 Dynasty LLC, Kleinerman 2020 Nonexempt LLC, and multiple Grantor Retained Annuity Trusts (GRATs) established between 2023 and 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. It reports routine executive stock transactions, including sales under a pre-established plan and acquisitions related to equity compensation, which are standard for publicly traded companies.

Positives

• The acquisition of shares on June 22nd, marked as 'F', indicates shares were withheld to satisfy tax obligations on vested restricted stock units, a common and expected event for executives.
• The continued beneficial ownership of a significant number of shares (400,379 directly) suggests ongoing commitment to the company.
• The use of a 10b5-1 trading plan demonstrates a pre-arranged, systematic approach to stock sales, which can mitigate insider trading concerns.

Negatives

• A sale of 2,621 shares occurred on June 23rd, 2026, indicating a reduction in direct holdings.
• The sale price of $228.45 on June 23rd is lower than the acquisition price of $232.29 on June 22nd for some transactions.

Risks

• The sale of shares, even under a 10b5-1 plan, could be interpreted by the market as a signal of reduced confidence by management, although this is a standard practice.
• The indirect beneficial ownership through various LLCs and trusts adds complexity to understanding the ultimate control and intent behind these holdings.

Future Outlook

The filing does not contain forward-looking statements or guidance. It solely reports past transactions.

Management Comments

• Shares withheld to satisfy tax withholding obligations on the vesting of restricted stock units.
• Includes shares to be issued in connection with the vesting of one or more restricted stock units.
• The sale reported in this Form 4 was effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 26, 2025.
• Shares are held by the Kleinerman 2020 Dynasty LLC for which the Reporting Person is the manager and the Reporting Person's immediate family members are the beneficiaries.
• Shares are held by the Kleinerman 2020 Nonexempt LLC for which the Reporting Person is the manager and the Reporting Person's immediate family members are the beneficiaries of a trust that is the sole member.
• Shares are held by the Christian Kleinerman 2023 Grantor Retained Annuity Trust dated September 1, 2023 for which the Reporting Person is the trustee.
• Shares are held by the Christian Kleinerman 2024 Grantor Retained Annuity Trust dated December 20, 2024 for which the Reporting Person is the trustee.
• Shares are held by the Christian Kleinerman 2025 Grantor Retained Annuity Trust dated December 14, 2025 for which the Reporting Person is the trustee.
• Shares are held by the Christian Kleinerman 2026 Grantor Retained Annuity Trust dated May 30, 2026 for which the Reporting Person is the trustee.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures for public company executives and directors, detailing changes in their beneficial ownership of company stock. The use of 10b5-1 plans is a common strategy to manage stock sales in a compliant manner, particularly for executives who may have material non-public information at various times.

Related Party Transactions

• Shares held by the Kleinerman 2020 Dynasty LLC, where the Reporting Person is manager and immediate family members are beneficiaries.
• Shares held by the Kleinerman 2020 Nonexempt LLC, where the Reporting Person is manager and immediate family members are beneficiaries of a trust that is the sole member.
• Shares held by various Christian Kleinerman Grantor Retained Annuity Trusts (2023-2026), where the Reporting Person is the trustee.

Stakeholder Impact

• Shareholders: The sale of shares by an executive, even under a 10b5-1 plan, can sometimes lead to minor short-term market sentiment shifts, though this is a common practice.
• Employees: The transactions are related to executive compensation (vesting of RSUs) and personal financial planning, with no direct impact on general employee stock options or benefits.
• Management: The filing confirms adherence to reporting requirements and the use of compliant trading plans.

Next Steps

• Continued monitoring of Christian Kleinerman's beneficial ownership and any future transactions.
• Observation of any market reaction to these reported transactions, though likely minimal given the nature of the filing.

Key Dates

Keywords

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