Form 4: Snowflake Inc. Executive Benoit Dageville Reports Changes in Beneficial Ownership

Benoit Dageville, President of Products at Snowflake Inc., reports acquisition of restricted stock units and adjustments to beneficial ownership.

Summary

• Benoit Dageville, President of Products at Snowflake Inc., filed a Form 4 detailing changes in beneficial ownership.
• On February 27, 2024, Dageville acquired 32,034 shares of Class A Common Stock related to previously granted restricted stock units based on the company's fiscal year 2024 performance.
• These restricted stock units will vest over four years, starting with 25% on March 15, 2024, and then 6.25% on each subsequent Quarterly Date (March 15, June 15, September 15, and December 15), contingent upon continuous service.
• Following the reported transactions, Dageville directly owns 71,773 shares of Class A Common Stock and indirectly owns 4,980,205 shares through The Snow Trust UTA dated 9/10/19, for which he serves as a trustee.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and achievement of performance goals, suggesting a neutral to slightly positive sentiment.

Positives

• The vesting of restricted stock units indicates that Snowflake achieved pre-established financial performance goals for fiscal year 2024.

Future Outlook

The restricted stock units will continue to vest quarterly over the next four years, subject to the Reporting Person's continuous service.

Industry Context

This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies like Snowflake.

Stakeholder Impact

• The vesting of restricted stock units aligns executive interests with shareholder value.

Next Steps

• Continued vesting of restricted stock units on a quarterly basis.

Key Dates