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

Benoit Dageville, President of Products at Snowflake Inc., reports the disposition and acquisition of Class A Common Stock, including sales to cover tax obligations and transactions under a pre-arranged trading plan.

Summary

• On September 16, 2024, Benoit Dageville, President of Products at Snowflake Inc., disposed of 994 shares of Class A Common Stock at a price of $113.67 to cover tax obligations.
• On the same day, Dageville disposed of another 923 shares of Class A Common Stock at $113.67 for tax obligations.
• On September 17, 2024, Dageville sold 1,946 shares of Class A Common Stock at $114.39 under a 10b5-1 trading plan.
• Following these transactions, Dageville directly owns 53,820 shares of Class A Common Stock and indirectly owns 4,910,205 shares through The Snow Trust UTA dated 9/10/19.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reports routine stock transactions by an executive. The sales to cover tax obligations and those under a pre-arranged trading plan are standard practices.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often scrutinized by investors for insights into management's perspective on the company's value and future prospects. The use of 10b5-1 trading plans allows insiders to sell shares in a predetermined manner, avoiding concerns about trading on non-public information.

Comparison to Industry Standards

• Executive stock sales are a normal part of compensation for executives at publicly traded companies like Snowflake.
• Companies like Amazon, Microsoft, and Google also see regular Form 4 filings from their executives.
• The use of 10b5-1 plans is a common practice to avoid insider trading accusations, and is used by executives at companies such as Salesforce and Oracle.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased supply of shares in the market.
• The impact on employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates