Form 4: Snowflake Founder Dageville Sells Shares Under 10b5-1 Plan

Snowflake Inc. Director and Founder Benoit Dageville reported the sale of common stock and shares withheld for tax obligations, executed under a pre-arranged 10b5-1 trading plan.

Summary

• Benoit Dageville, a Director, Founder, and Chief Architect of Snowflake Inc., reported transactions involving the company's common stock.
• On March 16, 2026, 1,007 shares and 936 shares were disposed of at $178.66 per share to satisfy tax withholding obligations related to restricted stock unit vesting.
• On March 17, 2026, 1,919 shares were sold at $175.34 per share.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Dageville on March 28, 2025.
• Following these transactions, Mr. Dageville directly owns 53,262 shares of common stock.
• He also indirectly holds 750,000 shares through The Selene GRAT No. 1 and 3,001,555 shares through The Snow Trust UTA, for which he is a trustee.
• An additional 750,000 shares are held by The Thira GRAT No. 1, for which his spouse is the trustee, and Mr. Dageville disclaims beneficial ownership.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. The transactions are routine insider disclosures, largely driven by tax obligations and a pre-arranged trading plan, rather than signaling a significant shift in company prospects.

Positives

• The sale was conducted under a pre-arranged 10b5-1 trading plan, indicating a planned, rather than reactive, disposition of shares.
• The majority of the shares disposed of were for tax withholding obligations, a common occurrence with RSU vesting.

Negatives

• A direct sale of 1,919 shares by a key insider, even if pre-planned, represents a reduction in direct ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, particularly those executed under Rule 10b5-1 plans, are a routine part of executive compensation and personal financial planning. While a sale by a founder and chief architect might draw attention, the pre-planned nature suggests it is not a reaction to new, undisclosed negative information about Snowflake Inc. or the broader cloud data platform industry.

Related Party Transactions

• The shares held by The Selene GRAT No. 1 and The Snow Trust UTA, for which the Reporting Person is a trustee, represent indirect beneficial ownership.
• The shares held by The Thira GRAT No. 1, for which the Reporting Person's spouse is the trustee, are also disclosed, though beneficial ownership is disclaimed by the Reporting Person.

Stakeholder Impact

• Shareholders: The sale of a relatively small number of shares under a 10b5-1 plan is unlikely to have a material impact on the company's stock price or long-term value.
• Employees: No direct impact on employees is indicated.

Key Dates

Recommendation

The filing details routine insider transactions, including tax-related dispositions and a pre-planned sale under a 10b5-1 plan. These transactions do not provide new fundamental insights into Snowflake Inc.'s operational performance or strategic direction that would warrant a change in investment thesis. Therefore, a 'hold' recommendation is appropriate, maintaining existing positions based on broader company fundamentals rather than these specific insider disclosures.

Keywords

Snowflake Inc., SNOW, Benoit Dageville, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Restricted Stock Units, Tax Withholding, Director, Chief Architect