Form 4: Snowflake Inc. Executive Benoit Dageville Executes Stock Options and Sells Shares Under 10b5-1 Plan

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 8, 2025, Benoit Dageville, President of Products at Snowflake Inc., exercised stock options to acquire 31,250 shares of Class A Common Stock at a price of $0.74 per share.
• Simultaneously, Dageville sold 31,250 shares of Class A Common Stock at a price of $175 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 trusts: 3,252,805 shares held by The Snow Trust UTA, 750,000 shares held by The Thira GRAT No. 1, and 750,000 shares held by The Selene GRAT No. 1.
• Dageville disclaims beneficial ownership of the shares held by The Thira GRAT No. 1, for which his spouse is the trustee.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The document simply reports stock transactions by an executive under a pre-arranged plan. There's no inherent positive or negative implication.

Positives

• The transactions were conducted under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to trade company stock.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies. Monitoring these transactions can provide insights into management's perspective on the company's value and future prospects. The use of a 10b5-1 trading plan indicates a pre-planned and compliant approach to these transactions.

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 standard practice among corporate executives to avoid accusations of insider trading.
• Comparing Dageville's stock ownership and trading activity with those of executives at similar cloud-based companies like Datadog (DDOG) or CrowdStrike (CRWD) could provide a benchmark for assessing the magnitude and frequency of these 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 trading plan mitigates concerns about insider trading.

Key Dates

Keywords

Snowflake, SNOW, Benoit Dageville, Stock Options, Class A Common Stock, Form 4, 10b5-1 Trading Plan, Insider Trading, Beneficial Ownership, Trusts