Form 4: Snowflake Inc. Chief Revenue Officer Christopher Degnan Reports Changes in Beneficial Ownership

Christopher William Degnan, Chief Revenue Officer of Snowflake Inc., reports a transaction involving Class A Common Stock due to tax obligations, resulting in an adjusted beneficial ownership.

Summary

• On June 17, 2024, Christopher William Degnan, the Chief Revenue Officer of Snowflake Inc., filed a Form 4 with the SEC.
• The filing reports a transaction where 1,258 shares of Class A Common Stock were disposed of to satisfy tax withholding obligations upon the vesting of restricted stock units at a price of $130.67.
• Following the transaction, Degnan directly owns 353,022 shares of Class A Common Stock, which includes shares to be issued in connection with the vesting of restricted stock units.
• Degnan also indirectly owns 120,000 shares through The Degnan Family Gift Trust and 340,152 shares through The Degnan Family Trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding stock transactions for tax purposes, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company stock, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine adjustment of stock ownership due to tax obligations.

Key Dates