Form 4: Snowflake Inc. Executive Benoit Dageville Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4
Benoit Dageville, President of Products at Snowflake Inc., exercised stock options and sold shares of Class A Common Stock on April 9, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- On April 9, 2025, Benoit Dageville, the President of Products at Snowflake Inc., executed a stock option for 6,250 shares of Class A Common Stock at a price of $0.74 per share.
- Simultaneously, Dageville sold 6,250 shares of Class A Common Stock at $150 per share.
- These transactions were executed under a 10b5-1 trading plan adopted on March 29, 2024.
- Following these transactions, Dageville directly owns 65,054 shares of Class A Common Stock.
- Dageville also has indirect ownership through several trusts: The Thira GRAT No. 1 (750,000 shares), The Selene GRAT No. 1 (750,000 shares), and The Snow Trust UTA (3,256,555 shares).
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to stock transactions by an executive under a pre-arranged plan. There's no indication of positive or negative implications for the company.
Positives
- The transactions were executed under a pre-arranged 10b5-1 trading plan, indicating a planned and transparent approach to stock transactions.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, and the use of 10b5-1 trading plans is a standard practice to avoid accusations of insider trading. This filing provides transparency into the trading activities of a key executive at Snowflake.
Comparison to Industry Standards
- Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
- The use of 10b5-1 trading plans is a widespread practice among corporate executives to manage their stock holdings in a compliant manner.
- Companies like Microsoft, Amazon, and Google also see regular Form 4 filings from their executives related to stock transactions.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-arranged nature of the transactions mitigates any significant concerns.
Key Dates
| Date | Description |
|---|---|
| 9/10/19 | Date of The Snow Trust UTA |
| 3/29/2024 | Date the 10b5-1 trading plan was adopted |
| 3/13/2025 | Date of The Thira GRAT No. 1 |
| 3/13/2025 | Date of The Selene GRAT No. 1 |
| 04/09/2025 | Date of stock option exercise and sale of shares |
| 04/10/2025 | Date of filing |
Keywords
Snowflake, Dageville, Stock Option, Class A Common Stock, 10b5-1 Trading Plan, Beneficial Ownership, SEC Form 4
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