Form 4: Snowflake Inc. Executive Benoit Dageville Reports Stock Transactions

Benoit Dageville, President of Products at Snowflake Inc., reports multiple transactions involving Class A Common Stock, including gifts, exercises of stock options, sales, and shares withheld for tax obligations.

Summary

• Benoit Dageville, President of Products at Snowflake Inc., filed a Form 4 detailing changes in beneficial ownership.
• On March 20, 2025, Dageville gifted 34,500 Class A Common Stock shares to a trust.
• An additional 1,875 shares were gifted from the trust on the same day.
• Dageville exercised a stock option for 6,250 shares at a price of $0.74 per share.
• He then sold 6,250 shares at $155.33 per share.
• 2,400 shares were withheld to cover tax obligations at a price of $155.96.
• An additional 288 shares were withheld for taxes at $155.96.
• On March 21, 2025, Dageville sold 2,636 shares at $154.67 per share.
• Following these transactions, Dageville directly owns 65,054 shares and indirectly owns 4,758,430 shares through a trust.
• The transactions were executed under a pre-arranged 10b5-1 trading plan adopted on March 29, 2024.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document primarily reports stock transactions by an executive, which is a routine activity. The use of a 10b5-1 plan suggests a pre-planned strategy, reducing the likelihood of significant negative or positive implications.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's perspective on the company's value and future prospects. The use of a 10b5-1 trading plan suggests a pre-arranged strategy for managing stock holdings.

Comparison to Industry Standards

• Executive stock transactions are a normal part of compensation and wealth management in publicly traded companies like Snowflake.
• Companies such as Amazon, Microsoft, and Google also see regular Form 4 filings from their executives.
• The use of 10b5-1 trading plans is a common practice to avoid accusations of insider trading, aligning with industry best practices.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the potential dilution from option exercises and the effect of sales on the stock price.
• The gifting of shares to a trust does not directly impact the company's operations or financial performance.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transactions, Snowflake, Dageville, SNOW, Insider Trading, 10b5-1 Trading Plan