Form 4: Snowflake Inc. Executive Sells Shares Under 10b5-1 Trading Plan

A Snowflake Inc. executive, Benoit Dageville, sold shares of Class A Common Stock on December 10, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Benoit Dageville, President of Products at Snowflake Inc., engaged in multiple transactions involving Class A Common Stock.
• On December 9, 2024, Dageville acquired 44,150 shares through a trust and 550 shares at a price of $183.64.
• On December 10, 2024, Dageville sold 558 shares at a price of $179.
• The sale was executed under a 10b5-1 trading plan adopted on March 29, 2024.
• The shares are held by The Snow Trust UTA dated 9/10/19, for which Dageville is a trustee.

Sentiment

Score: 5

Explanation: The document describes a routine executive stock transaction under a pre-arranged plan, which is neither particularly positive nor negative.

Risks

• Executive stock sales can sometimes be perceived negatively by the market, potentially impacting investor sentiment.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies, and are often part of pre-arranged trading plans to avoid accusations of insider trading. The use of 10b5-1 plans is a standard practice for executives to manage their personal finances while complying with securities regulations.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, including technology firms like Snowflake, to manage their stock holdings and avoid potential insider trading issues.
• Similar transactions are regularly seen at companies like Amazon, Microsoft, and Google, where executives often have large stock-based compensation packages.
• The volume of shares sold by Dageville is relatively small compared to the overall market capitalization of Snowflake, suggesting it is likely a routine transaction rather than a significant shift in executive sentiment.

Stakeholder Impact

• The impact on shareholders is likely minimal, as the transaction is part of a pre-arranged trading plan and the volume of shares sold is small.

Key Dates

Keywords

Snowflake Inc., SNOW, Benoit Dageville, Class A Common Stock, 10b5-1 trading plan, executive stock sale, insider trading