Form 4: Snowflake Inc. Executive Benoit Dageville Reports Stock Acquisition and Holdings

Benoit Dageville, President of Products at Snowflake Inc., reports the acquisition of restricted stock units and discloses beneficial ownership of Class A Common Stock.

Summary

• On February 25, 2025, Benoit Dageville, President of Products at Snowflake Inc., reported a transaction involving Class A Common Stock.
• Dageville acquired 19,015 shares of Class A Common Stock related to previously granted restricted stock units (RSUs) based on the company's fiscal year 2025 performance.
• These RSUs will vest over four years, starting with 25% on March 20, 2025, and then 6.25% on each subsequent Quarterly Date (March 20, June 20, September 20, and December 20), contingent upon continuous service.
• Following the reported transaction, Dageville directly owns 66,725 shares of Class A Common Stock and indirectly owns 4,798,555 shares through The Snow Trust UTA dated 9/10/19, for which he serves as a trustee.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The vesting of RSUs suggests the company met its performance goals, which is a positive indicator. However, it's a routine filing and doesn't necessarily indicate a major shift in the company's outlook.

Positives

• The vesting of RSUs indicates that Snowflake achieved pre-established financial performance goals for fiscal year 2025, which is a positive sign for the company's performance.

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

Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders. This filing indicates that Snowflake is using RSUs as part of its compensation strategy to align executive interests with shareholder value.

Comparison to Industry Standards

• RSUs are a common form of equity compensation in the tech industry, used by companies like Amazon, Google, and Microsoft to attract and retain talent.
• The vesting schedule of four years with quarterly vesting is also a standard practice.

Stakeholder Impact

• Shareholders may view the vesting of RSUs as a sign that management's interests are aligned with theirs, as executives benefit from the company's success.
• Employees may be motivated by the company's achievement of performance goals, which led to the vesting of RSUs.

Next Steps

• The reporting person will continue to receive shares as the restricted stock units vest over the next four years, contingent upon continuous service.

Key Dates