Frank Slootman - 28 Dec 2023 Form 4 Insider Report for Snowflake Inc. (SNOW)

Role
CEO and Chairman, Director
Signature
/s/ Alex K. Kassai, Attorney-in-Fact
Issuer symbol
SNOW
Transactions as of
28 Dec 2023
Net transactions value
-$52,773,839
Form type
4
Filing time
02 Jan 2024, 16:40:04 UTC
Previous filing
28 Dec 2023
Next filing
09 Feb 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SNOW Class A Common Stock Options Exercise $2,442,000 +275,000 +153% $8.88* 455,143 28 Dec 2023 Direct F1, F2
transaction SNOW Class A Common Stock Sale $37,671,540 -187,858 -41% $200.53 267,285 28 Dec 2023 Direct F1, F2, F3
transaction SNOW Class A Common Stock Sale $17,544,299 -87,142 -33% $201.33 180,143 28 Dec 2023 Direct F1, F2, F4
holding SNOW Class A Common Stock 16,300 28 Dec 2023 Trust F5
holding SNOW Class A Common Stock 83,014 28 Dec 2023 Foundation F6
holding SNOW Class A Common Stock 335,146 28 Dec 2023 Trust F7
holding SNOW Class A Common Stock 432,146 28 Dec 2023 Trust F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SNOW Stock Option (Right to Buy) Options Exercise $0 -275,000 -2.5% $0.000000 10,895,364 28 Dec 2023 Class A Common Stock 275,000 $8.88 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The exercise and sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 25, 2023.
F2 Includes shares to be issued in connection with the vesting of one or more restricted stock units.
F3 The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $200.000 to $200.995, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in these footnotes.
F4 The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $201.000 to $201.655, inclusive.
F5 The shares are held by the Slootman Grandchildren's Trust dated 7/28/2022 for which the Reporting Person is a trustee.
F6 The shares are held by the Slootman Family Foundation dated 11/24/2010 for which the Reporting Person is deemed to have voting and investment power over the shares held by the Slootman Family Foundation, but has no personal pecuniary interest in these shares.
F7 The shares are held by the Slootman Living Trust dated 9/8/1999 for which the Reporting Person is a trustee.
F8 The shares are held by the Slootman 2023 Grantor Retained Annuity Trust dated 9/25/23 for which the Reporting Person is a trustee.
F9 The shares subject to the option are immediately exercisable and vest in 48 equal monthly installments beginning on April 26, 2019, subject to the Reporting Person's continuous service through each such vesting date.