[144] Snowflake Inc. SEC Filing

Rhea-AI Filing Summary

Form 144 filed for Snowflake Inc. (SNOW) discloses a planned insider sale of 50,741 common shares through broker Stifel Nicolaus on 01 Aug 2025. The shares carry an estimated aggregate market value of $10.59 million, implying a per-share price of roughly $208.60. Snowflake has 330.1 million shares outstanding, so the proposed sale represents <0.02 % of total shares.

The seller, identified in the past-sales table as Michael L. Speiser, has already sold an identical block of 50,741 shares on 06 Jun 2025 for $10.72 million and again on 07 Jul 2025 for $11.24 million, generating total gross proceeds of about $21.96 million in the last three months. Shares being sold were originally acquired via open-market purchase (34,005 shares on 07 Jun 2024) and several private placements between 2014-2017.

No earnings data or corporate events accompany the notice; Form 144 simply signals an intention to sell and does not guarantee execution. Given the modest size relative to Snowflake’s float, market impact should be limited, but continued insider selling can be viewed cautiously by investors monitoring sentiment.

Positive

• Sale totals less than 0.02 % of shares outstanding, implying negligible dilution or supply impact.
• Form 144 filed on a timely basis, demonstrating regulatory compliance and transparency.

Negative

• Third insider sale of identical size in three months may be interpreted as persistent selling pressure.
• No 10b5-1 plan date disclosed, leaving uncertainty about trading-window motivations.

Insights

Securities Analyst

TL;DR: Small insider sale; limited dilution, mildly negative sentiment signal.

The filing shows a continuing pattern of 50.7 k-share dispositions by Michael L. Speiser, totaling ~152 k shares since June. Against 330 m shares outstanding, the proposed sale is immaterial to float and earnings per share, so valuation impact should be negligible. However, recurring insider liquidation—three identical blocks in as many months—can dampen investor confidence, especially as Snowflake is still investing heavily for growth and trades at a premium multiple. No 10b5-1 plan date is disclosed, so the transactions appear discretionary. Overall, I judge the news neutral to slightly negative, with minimal fundamental effect.

Corporate Governance Expert

TL;DR: Patterned sales warrant monitoring, but share percentage is trivial.

Form 144 compliance is straightforward; disclosures cover acquisition history and planned trade details. The seller certifies no undisclosed adverse information, reducing legal risk. Lack of a stated Rule 10b5-1 adoption date could raise questions about trading windows, yet no red flags emerge. Because the sale equals just 0.015 % of outstanding shares, governance impact is de minimis. Repetition of identical block sizes suggests a personal liquidity program rather than signaling operational concerns. I classify the filing as routine and not impactful to governance assessments.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Stifel Nicolaus & Company Inc 501 N Broadway St Louis MO 63102	50741	10589146.00	330100000	08/01/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A	06/07/2024	Open Market Purchase	Open Market			34005	06/07/2024	Cash
Class A	03/24/2017	Private Placement	Issuer			12973	03/24/2017	Cash
Class A	02/27/2015	Private Placement	Issuer			2083	02/27/2015	Cash
Class A	04/02/2014	Private Placement	Issuer			1680	04/02/2014	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Michael L Speiser 755 Page Mill Rd Ste A200 Palo Alto CA 94304	Common	06/06/2025	50741	10724110.00
Michael L Speiser 755 Page Mill Rd Ste A200 Palo Alto CA 94304	Common	07/07/2025	50741	11237102.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Snowflake (SNOW) shares are proposed for sale in this Form 144?

The filing covers 50,741 common shares slated for sale.

What is the estimated value of the SNOW shares being sold?

Aggregate market value is listed at $10.59 million.

Who is the seller named in recent Snowflake insider transactions?

The past-sales table identifies Michael L. Speiser as the seller.

How significant is the proposed sale relative to Snowflake’s float?

At 330.1 million shares outstanding, the sale represents <0.02 % of total shares.

Have there been other insider sales by the same person recently?

Yes, identical blocks were sold on 06 Jun 2025 and 07 Jul 2025 for a combined $21.96 million.