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 transactions to cover tax obligations and sales under a pre-arranged 10b5-1 trading plan.

Summary

• Benoit Dageville, President of Products at Snowflake Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On March 8, 2024, 419 shares of Class A Common Stock were disposed of to cover tax obligations at a price of $162.4 per share.
• On March 11, 2024, 689 shares of Class A Common Stock were sold at a price of $161.42 per share under a 10b5-1 trading plan.
• Following these transactions, Dageville directly owns 70,665 shares of Class A Common Stock and indirectly owns 4,980,205 shares through The Snow Trust UTA dated 9/10/19.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing primarily reports routine stock transactions by an executive. The transactions are part of a pre-arranged trading plan and tax obligations, which are common occurrences.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies like Snowflake. These transactions are often scrutinized by investors for insights into management's perspective on the company's future performance. The use of 10b5-1 trading plans is a standard practice to avoid accusations of insider trading.

Comparison to Industry Standards

• Executive stock transactions are a common practice in publicly traded companies.
• Companies like Amazon, Microsoft, and Google also have executives who regularly report stock transactions via Form 4 filings.
• The use of 10b5-1 trading plans is a standard practice among executives to sell shares over time while avoiding insider trading concerns.

Key Dates