Form 4: Snowflake President Sells Shares Under Pre-Arranged Plan
Insider Transaction Report
Benoit Dageville, Snowflake's President of Products, reported the sale of common stock, including tax-related dispositions and a sale under a Rule 10b5-1 trading plan.
Summary
- Benoit Dageville, President of Products and a Director at Snowflake Inc. (SNOW), reported transactions involving the company's common stock.
- On September 8, 2025, Dageville disposed of a total of 1,105 shares (560 + 545) of common stock at a price of $225.58 per share. These dispositions were to satisfy tax withholding obligations upon the vesting of restricted stock units.
- On September 9, 2025, Dageville sold 1,081 shares of common stock at a price of $223.86 per share. This sale was executed pursuant to a Rule 10b5-1 trading plan adopted on March 28, 2025.
- Following these transactions, Dageville directly beneficially owns 56,139 shares of common stock.
- Additionally, Dageville indirectly holds 3,146,555 shares through The Snow Trust UTA and 750,000 shares through The Selene GRAT No. 1, for which he is a trustee.
- He disclaims beneficial ownership of 750,000 shares held by The Thira GRAT No. 1, for which his spouse is the trustee.
Sentiment
Score: 5
Explanation: The filing reports routine insider transactions, including tax-related dispositions and a pre-planned sale under a 10b5-1 plan. These are standard occurrences and do not indicate a significant positive or negative shift in company fundamentals or outlook.
Positives
- The sale of 1,081 shares was conducted under a Rule 10b5-1 trading plan, adopted on March 28, 2025, which indicates a pre-scheduled, non-discretionary transaction and enhances transparency.
Negatives
- Insider sales, even if pre-planned, can sometimes be perceived negatively by the market, though the impact is typically minimal for routine 10b5-1 transactions.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Trading Plan Adoption | Benoit Dageville adopted a Rule 10b5-1 trading plan on March 28, 2025, which allows insiders to sell shares at a predetermined time or price to avoid accusations of trading on material non-public information. | 03/28/2025 | Enhances transparency and provides an affirmative defense against insider trading allegations for the reported sale. |
Related Party Transactions
- Shares are held by The Snow Trust UTA dated 9/10/19 for which the Reporting Person is a trustee.
- Shares are held by The Selene GRAT No. 1 dated 3/13/2025 for which the Reporting Person is the trustee.
- Shares are held by The Thira GRAT No. 1 dated 3/13/2025 for which the Reporting Person's spouse is the trustee, with beneficial ownership disclaimed by the Reporting Person.
Stakeholder Impact
- Shareholders: Minimal impact as the transactions are routine insider sales, including tax-related dispositions and a pre-planned sale under a 10b5-1 plan, which are generally not indicative of a change in company prospects.
- Employees: No direct impact mentioned.
- Customers: No direct impact mentioned.
- Suppliers: No direct impact mentioned.
- Creditors: No direct impact mentioned.
Key Dates
| Date | Description |
|---|---|
| 03/28/2025 | Date Rule 10b5-1 trading plan was adopted by Benoit Dageville. |
| 09/08/2025 | Date of disposition of 1,105 shares for tax withholding on RSU vesting. |
| 09/09/2025 | Date of sale of 1,081 shares under Rule 10b5-1 trading plan. |
| 09/10/2025 | Date the Form 4 was signed by Marie Reider, Attorney-in-Fact. |
Recommendation
holdThe Form 4 filing details routine insider transactions, specifically the disposition of shares for tax withholding upon RSU vesting and a pre-scheduled sale under a Rule 10b5-1 trading plan. These types of transactions are common for executives and do not typically signal a change in the company's fundamental performance or future prospects. Therefore, the filing itself does not provide new information that would warrant a change in investment thesis, leading to a 'hold' recommendation.
Keywords
Snowflake, SNOW, Benoit Dageville, insider trading, Form 4, stock sale, 10b5-1 plan, executive compensation, restricted stock units, RSU vesting
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