Form 4: Snowflake President of Products Reports Stock Sales and Tax Withholdings

Benoit Dageville, President of Products and Director at Snowflake Inc., reported recent stock transactions including sales executed under a pre-arranged 10b5-1 trading plan and shares withheld for tax obligations.

Summary

• Benoit Dageville, President of Products and a Director at Snowflake Inc. (SNOW), filed a Form 4 detailing recent changes in his beneficial ownership of Class A Common Stock.
• On June 20, 2025, a total of 888 shares (600 + 288) were withheld to satisfy tax withholding obligations related to the vesting of restricted stock units, at a price of $212.08 per share.
• On June 23, 2025, a total of 870 shares (588 + 282) were sold at a price of $209.87 per share. These sales were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Dageville on March 29, 2024.
• Following these transactions, Mr. Dageville directly beneficially owns 58,325 shares of Class A Common Stock.
• Additionally, Mr. Dageville indirectly holds 750,000 shares through The Selene GRAT No. 1 (where he is the trustee) and 3,191,555 shares through The Snow Trust UTA (where he is a trustee).
• He also reported 750,000 shares held by The Thira GRAT No. 1, for which his spouse is the trustee, and he disclaims beneficial ownership.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While there are sales, they are part of a pre-arranged 10b5-1 plan, which is a common practice for executives to manage their equity holdings and liquidity. The executive also retains significant indirect ownership.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, indicating a structured and pre-planned divestment rather than an immediate reaction to market conditions.
• Benoit Dageville retains significant indirect beneficial ownership through trusts, totaling 3,941,555 shares (750,000 + 3,191,555), in addition to his direct holdings.

Negatives

• Benoit Dageville disposed of a total of 1,758 shares (888 for tax + 870 sold) of Class A Common Stock through tax withholdings and open market sales.
• The sales occurred at prices slightly below the price at which shares were withheld for tax ($209.87 vs $212.08).

Risks

• Insider sales, even if pre-planned, can sometimes be perceived negatively by investors, potentially leading to questions about management's confidence in the company's near-term prospects.

Future Outlook

NA

Industry Context

This Form 4 filing details individual stock transactions by a key executive at Snowflake Inc., a prominent cloud data warehousing company. Such filings are routine disclosures for public company insiders and do not directly reflect broader industry trends, though they are closely watched by investors for insights into executive sentiment regarding their company's stock.

Related Party Transactions

• The filing discloses indirect beneficial ownership through trusts (The Selene GRAT No. 1 and The Snow Trust UTA) where the reporting person is a trustee, and another trust (The Thira GRAT No. 1) where his spouse is the trustee, though he disclaims beneficial ownership for the latter.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive, even if pre-planned, can sometimes be interpreted by shareholders as a signal, though the 10b5-1 plan mitigates immediate concerns. The retention of significant indirect ownership through trusts indicates continued alignment with shareholder interests.

Key Dates

Keywords

Snowflake Inc., SNOW, Benoit Dageville, Form 4, Insider Trading, Stock Sales, Restricted Stock Units, RSU, 10b5-1 Plan, Beneficial Ownership, Corporate Officer, Director