Form 4: Snowflake Inc. Executive Benoit Dageville Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Benoit Dageville, President of Products at Snowflake Inc., exercised stock options and sold shares of Class A Common Stock under a pre-arranged 10b5-1 trading plan.
Summary
- On May 15, 2025, Benoit Dageville, President of Products at Snowflake Inc., executed transactions involving Class A Common Stock.
- Dageville exercised a stock option to acquire 12,500 shares at a price of $0.74 per share.
- Simultaneously, Dageville sold 12,500 shares of Class A Common Stock at $180 per share.
- Dageville also gifted 3,750 shares of Class A Common Stock.
- 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 and indirectly owns 3,241,555 shares through a trust.
- Dageville also indirectly owns 750,000 shares through The Thira GRAT No. 1 and 750,000 shares through The Selene GRAT No. 1.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transactions are part of a pre-planned trading strategy, suggesting no immediate cause for alarm or excessive optimism.
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 common in publicly traded companies and are often scrutinized by investors to gauge management's confidence in the company's future prospects. The use of a 10b5-1 trading plan is a common practice to avoid accusations of insider trading.
Comparison to Industry Standards
- Executive compensation and stock option plans are standard practice among publicly traded technology companies like Snowflake.
- Companies such as Amazon, Microsoft, and Google also utilize stock-based compensation as a key component of their executive pay packages.
- The use of 10b5-1 trading plans is a common and accepted method for executives to manage their stock holdings while avoiding potential insider trading concerns, aligning with industry best practices.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but the pre-planned nature of the transactions mitigates concerns about insider trading or a lack of confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 09/10/2019 | Date of The Snow Trust UTA. |
| 03/29/2024 | Date the Reporting Person adopted a 10b5-1 trading plan. |
| 03/13/2025 | Date of The Thira GRAT No. 1 and The Selene GRAT No. 1. |
| 05/15/2025 | Date of the reported transactions (exercise, sale, and gift). |
| 05/19/2025 | Date of signature for the SEC Form 4 filing. |
| 02/07/2027 | Expiration date of the stock option. |
Keywords
Snowflake, SNOW, Benoit Dageville, Stock Options, Class A Common Stock, 10b5-1 Trading Plan, SEC Form 4, Insider Trading
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