[144] Snowflake Inc. SEC Filing

Rhea-AI Filing Summary

Snowflake Inc. (SNOW) – Form 144 filing: The notice discloses a planned sale of 10,000 Class A shares on or about 1 July 2025 through Fidelity Brokerage Services on the NYSE, with an aggregate market value of $2.19 million. The filing lists 333.7 million Class A shares outstanding, so the proposed sale represents roughly 0.003% of shares outstanding.

Recent insider activity:

• Over the past three months, Christian Kleinerman and related entity Kleinerman 2020 Dynasty LLC have already disposed of 46,133 shares in eight transactions, generating ≈$9.3 million in gross proceeds.
• Individual transactions ranged from 548 to 10,000 shares, with sale prices implied between $206–$214 per share (based on disclosed proceeds).

Under Rule 144, the filer asserts no possession of undisclosed material adverse information. No earnings, operational updates or other corporate events are included; the document is strictly a compliance notice of intended insider sales.

Positive

• None.

Negative

• Persistent insider selling: 46,133 shares already disposed of in the last three months with another 10,000 planned, totaling ≈$11.5 million in potential gross proceeds.
• Signal risk: Continued executive-level divestitures can be perceived as diminished confidence in near-term share performance.

Insights

Equity Analyst

TL;DR: Continued insider sales—another 10k shares planned—extend a 46k-share, $9m+ disposal streak; signal is modestly negative but volume is immaterial to float.

The Kleinerman sales pattern is persistent: roughly 46 k shares sold since late April and a further 10 k queued. While this disposal equates to under 0.02 % of Snowflake’s outstanding Class A shares, sustained selling by a senior executive can unsettle sentiment, especially given Snowflake’s premium valuation. Importantly, the Form 144 is only a notice; execution is not guaranteed, and Rule 144 volume constraints appear respected. Absent operational disclosures, the filing’s impact is strictly about insider behaviour. Investors may watch for additional Form 4s to corroborate actual sales and monitor whether other insiders follow suit.

Corporate Governance Specialist

TL;DR: Filing shows compliant Rule 144 usage; transparency is positive, but ongoing insider liquidation could raise governance optics concerns.

Rule 144 filings demonstrate adherence to disclosure standards, and the signer certifies no undisclosed adverse information. Nevertheless, the cadence of sales by Mr. Kleinerman and his Dynasty LLC—multiple blocks every few weeks—may be interpreted as opportunistic profit-taking. Investors typically prefer insider buying or holding during growth phases. Volume limits and outstanding-share context mitigate mechanical risk, yet perception matters: governance best practice suggests clear communication around insider trading plans to avoid negative interpretations. Market impact is likely limited, but sentiment could worsen if sales accelerate or expand to other executives.

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
Class A	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	10000	2188900.00	333700000	07/01/2025	NYSE

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	12/15/2017	Founders Shares	Issuer			10000	12/15/2017	Compensation

* 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
Christian Kleinerman 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	04/25/2025	10000	1600000.00
Christian Kleinerman 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	05/01/2025	10000	1680000.00
Kleinerman 2020 Dynasty Llc 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	05/22/2025	5000	1000000.00
Christian Kleinerman 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	06/02/2025	10000	2056700.00
Christian Kleinerman 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	06/10/2025	548	115058.08
Christian Kleinerman 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	06/17/2025	2975	618800.00
Christian Kleinerman 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	06/23/2025	2610	547760.70
Kleinerman 2020 Dynasty Llc 106 East Babcock Street Suite 3A Bozeman MT 59715	Class A	06/25/2025	5000	1125000.00

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 does the insider plan to sell in this Form 144?

The filing covers a planned sale of 10,000 Class A shares.

What is the market value of the proposed SNOW share sale?

The aggregate market value disclosed is $2.1889 million.

How much has the same insider sold in the last three months?

Christian Kleinerman and a related entity sold 46,133 Class A shares for roughly $9.3 million in gross proceeds.

What percentage of Snowflake’s outstanding shares does the new sale represent?

Approximately 0.003% of the 333.7 million Class A shares outstanding.

When is the approximate date of the planned insider sale?

The notice lists an approximate sale date of 1 July 2025.

Which broker will handle the transaction?

The shares are to be sold through Fidelity Brokerage Services LLC.