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

Snowflake's Founder and Chief Architect, Benoit Dageville, executed pre-planned stock option exercises and share sales, alongside a significant gift, on October 16, 2025.

Summary

• Benoit Dageville, Founder and Chief Architect of Snowflake Inc., reported transactions on October 16, 2025, pursuant to a 10b5-1 trading plan adopted on March 28, 2025.
• Acquired 25,000 shares of Common Stock by exercising stock options at a price of $13.48 per share.
• Disposed of 25,000 shares of Common Stock through a sale at a price of $246 per share.
• Disposed of 7,500 shares of Common Stock through a gift at a price of $0 per share.
• Following these transactions, direct beneficial ownership stands at 50,519 shares.
• Indirect beneficial ownership includes 3,074,055 shares held by The Snow Trust UTA, 750,000 shares by The Thira GRAT No. 1 (beneficial ownership disclaimed), and 750,000 shares by The Selene GRAT No. 1.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While insider selling can sometimes be viewed negatively, the execution under a 10b5-1 plan mitigates concerns as it indicates pre-scheduled personal financial management rather than a reaction to new, undisclosed information. The high sale price is favorable for the insider.

Positives

• The sale of 25,000 shares at a price of $246 per share indicates a strong market valuation for Snowflake stock at the time of the transaction.

Negatives

• The disposition of shares by a founder, even under a pre-planned arrangement, could be perceived as a reduction in direct personal stake, though mitigated by the 10b5-1 plan.

Industry Context

This is a routine insider transaction for personal financial management, executed under a pre-arranged 10b5-1 trading plan. It does not inherently reflect broader industry trends or competitive positioning.

Related Party Transactions

• A gift of 7,500 shares of Common Stock was made.
• Shares are held by The Snow Trust UTA dated 9/10/19, for which the Reporting Person is a trustee.
• Shares are held by The Thira GRAT No. 1 dated 3/13/2025, for which the Reporting Person's spouse is the trustee (Reporting Person disclaims beneficial ownership).
• Shares are held by The Selene GRAT No. 1 dated 3/13/2025, for which the Reporting Person is the trustee.

Stakeholder Impact

• Shareholders: The transaction is a routine insider sale under a 10b5-1 plan and is unlikely to have a significant direct impact on shareholder value or confidence, as it does not signal new company-specific information.
• Employees, Customers, Suppliers, Creditors: No direct impact is expected from this personal financial transaction by an executive.

Key Dates

Recommendation

The filing details a pre-scheduled insider transaction under a 10b5-1 plan, which is a routine event and does not typically signal new fundamental information about the company. The exercise of options and subsequent sale at a high price are personal financial management for the insider. There is no new information to warrant a change in investment thesis based solely on this Form 4.

Keywords

Snowflake, SNOW, Benoit Dageville, Insider Transaction, Form 4, Stock Option Exercise, Share Sale, 10b5-1 Plan, Founder, Chief Architect