Form 4: Snowflake's President of Products, Benoit Dageville, Reports Stock Transactions

Benoit Dageville, President of Products at Snowflake Inc., reports the disposition and acquisition of Class A Common Stock, including shares withheld for tax obligations and sales on the open market.

Summary

• Benoit Dageville, President of Products at Snowflake Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On June 10, 2024, 550 shares of Class A Common Stock were disposed of at a price of $126.76 per share to cover tax obligations.
• On June 11, 2024, 558 shares of Class A Common Stock were sold at a weighted-average price of $128.315 per share, with individual transactions ranging from $128.310 to $128.325.
• Also on June 11, 2024, 39,000 shares of Class A Common Stock were gifted.
• Following these transactions, Dageville directly owns 63,222 shares and indirectly owns 4,910,205 shares through The Snow Trust UTA dated 9/10/19.
• Dageville has also granted a Power of Attorney to several individuals at Snowflake Inc. and Cooley LLP to handle SEC filings on his behalf.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.

Comparison to Industry Standards

• Monitoring insider transactions is a common practice in financial analysis to gauge management's sentiment and potential future performance.
• Comparing Dageville's transactions to those of other executives at Snowflake and similar tech companies can provide insights into the overall health and prospects of the company.
• Companies like Datadog, MongoDB, and Okta also have frequent Form 4 filings from their executives, which are closely watched by investors.

Stakeholder Impact

• The reported transactions may influence investor perception of Snowflake's stock.
• Transparency in insider trading activity is crucial for maintaining investor confidence.

Key Dates