Form 4: Snowflake Inc. Director Frank Slootman Reports Stock Transactions
SEC Form 4 Filing
Frank Slootman, a director at Snowflake Inc., reported the sale and acquisition of Class A Common Stock, including transactions to cover tax obligations and sales under a 10b5-1 trading plan.
Summary
- On March 10, 2025, Frank Slootman had shares withheld to cover tax obligations on vesting restricted stock units, resulting in the disposal of 987 shares at $158.91.
- On March 11, 2025, Slootman sold 1,783 shares of Class A Common Stock at $147.24 per share.
- These sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 30, 2024.
- Following these transactions, Slootman directly owns 192,511 shares.
- Slootman also indirectly owns shares through various entities, including Invisible Hand Ventures LLC (1,173 shares), the Slootman Family Foundation (83,014 shares), and several trusts (ranging from 16,300 to 335,146 shares).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock transactions by a company director, which is a routine occurrence. The sales are conducted under a pre-arranged plan, mitigating concerns about insider information.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 09/08/1999 | Date of the Slootman Living Trust |
| 11/24/2010 | Date of the Slootman Family Foundation |
| 07/28/2022 | Date of the Slootman Grandchildren's Trust |
| 09/25/2023 | Date of the Slootman 2023 Grantor Retained Annuity Trust |
| 09/30/2024 | Date the 10b5-1 trading plan was adopted |
| 12/03/2024 | Date of the B. Slootman 2024 Grantor Retained Annuity Trust and the F. Slootman 2024 Grantor Retained Annuity Trust |
| 03/10/2025 | Date of share withholding for tax obligations |
| 03/11/2025 | Date of Class A Common Stock sale |
| 03/12/2025 | Date of signature for the Form 4 filing |
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