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

Christopher William Degnan, Chief Revenue Officer of Snowflake Inc., reported changes in beneficial ownership of Class A Common Stock due to tax withholding obligations and vesting of restricted stock units.

Summary

• On September 16, 2024, Christopher William Degnan, the Chief Revenue Officer of Snowflake Inc., filed a Form 4 to report changes in his beneficial ownership of the company's Class A Common Stock.
• The reported transactions involved the withholding of shares to satisfy tax obligations related to the vesting of restricted stock units.
• Specifically, 1,324 shares were withheld at a price of $113.67, resulting in a decrease in direct ownership to 348,819 shares.
• An additional 1,230 shares were withheld at the same price, further reducing direct ownership to 347,589 shares.
• Degnan also indirectly owns shares through various trusts, including The Degnan Family Trust (139,563 shares), The Degnan Family Gift Trust (120,000 shares), The Sherborne GRAT No. I (50,000 shares), The Fairbanks GRAT No. I (50,000 shares), and The Sudbury Trust (100,589 shares).

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to stock transactions for tax purposes, and does not indicate any significant positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and their impact on stock ownership.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they relate to tax obligations on vested stock.

Key Dates