Form 4: Snowflake Founder Dageville Reports Stock Transactions

Benoit Dageville, Snowflake's Founder and Chief Architect, reported routine transactions including RSU vesting and sales under a 10b5-1 plan.

Summary

• Benoit Dageville, Founder and Chief Architect of Snowflake Inc., reported several transactions involving common stock.
• On March 20, 2026, 885 shares were disposed of to satisfy tax withholding obligations related to restricted stock unit (RSU) vesting, at a price of $175.4 per share.
• On the same date, 14,239 restricted stock units were acquired at a price of $0, which will vest quarterly over four years, starting June 15, 2026.
• On March 23, 2026, 874 shares were sold at $170.01 per share, executed under a Rule 10b5-1 trading plan adopted on March 28, 2025.
• Following these transactions, Dageville directly owns 65,742 shares and indirectly holds 750,000 shares through The Selene GRAT No. 1 and 3,001,555 shares through The Snow Trust UTA, where he is a trustee.
• An additional 750,000 shares are held by The Thira GRAT No. 1, for which Dageville's spouse is the trustee, and Dageville disclaims beneficial ownership.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, typical for reporting routine insider transactions involving equity compensation and planned stock sales, without indicating any significant positive or negative operational developments.

Positives

• Acquisition of 14,239 restricted stock units (RSUs) at $0, indicating continued equity compensation and alignment with company performance.

Negatives

• Sale of 874 shares at $170.01 and disposition of 885 shares for tax withholding, representing a reduction in direct holdings.

Future Outlook

The newly acquired restricted stock units will vest quarterly over four years, with the first 6.25% vesting on June 15, 2026, and subsequent vesting on each quarterly vest date thereafter, contingent on continuous service.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those executed under Rule 10b5-1 plans, are common for executives to manage their equity holdings systematically and comply with insider trading regulations. These routine filings provide transparency into executive compensation and portfolio management rather than signaling specific company performance or strategic shifts.

Corporate Governance

Related Party Transactions

• Shares held by The Selene GRAT No. 1, for which the Reporting Person is the trustee.
• Shares held by The Thira GRAT No. 1, for which the Reporting Person's spouse is the trustee (beneficial ownership disclaimed by Reporting Person).
• Shares held by The Snow Trust UTA, for which the Reporting Person is a trustee.

Stakeholder Impact

• Shareholders: Provides transparency regarding executive stock ownership and planned transactions, which is standard practice.
• Employees: The vesting of restricted stock units is a common form of equity compensation, aligning executive interests with long-term company performance.

Next Steps

• Continued vesting of restricted stock units on a quarterly basis (March 15, June 15, September 15, December 15).

Key Dates

Keywords

Snowflake, SNOW, Benoit Dageville, Insider Trading, Form 4, Restricted Stock Units, 10b5-1 Plan, Equity Compensation, Director, Officer