[144] Snowflake Inc. SEC Filing

Rhea-AI Filing Summary

Snowflake Inc. (SNOW) filed a Form 144 indicating that director Frank Slootman intends to sell up to 306,502 Class A shares through Fidelity Brokerage Services on or about 26-27 June 2025. The aggregate market value of the planned sale is US $68.19 million, based on the price prevailing at the time the form was prepared. Snowflake reports 333.7 million Class A shares outstanding, so the proposed transaction represents roughly 0.09 % of the total shares.

The filing also discloses recent insider sales by Slootman during the prior three-month period:

• 1,859 shares on 10 Jun 2025 for US $0.39 million
• 7,294 shares on 17 Jun 2025 for US $1.52 million
• 424,852 shares on 26 Jun 2025 for US $93.19 million

Including the proposed sale, Slootman will have either sold or notified intent to sell 740,507 shares (about 0.22 % of shares outstanding) for a combined market value close to US $163 million.

The notice states that the trading activity is conducted under a Rule 10b5-1 plan adopted on 26 Mar 2025, and the signatory affirms no possession of undisclosed adverse information. No other financial metrics or operational disclosures accompany this filing; the document serves solely to alert the market to significant insider share disposals.

Positive

• Sales executed under a Rule 10b5-1 plan, providing procedural transparency and mitigating concerns about trading on undisclosed information.

Negative

• High-dollar insider disposals totaling roughly US $163 million within three months could weigh on investor sentiment.
• Cumulative volume of 740,507 shares sold or planned by a key director may create a perceived supply overhang despite representing only 0.22 % of shares outstanding.

Insights

Securities Analyst

TL;DR: Large planned insider sale (~US$68m) after US$95m sold earlier; modest % of float but material dollar value.

Form 144 filings are routine, yet dollar size and the individual involved make this notice noteworthy. Frank Slootman is a high-profile director and former CEO whose ownership moves are closely watched. The freshly disclosed intent to dispose of 306,502 shares—on top of 434,005 shares already sold this month—brings his total announced/ executed disposals to roughly US$163 million. While the shares represent only 0.22 % of Snowflake’s outstanding stock, dollar value and leadership stature could influence market sentiment, especially given recent volatility in high-growth software names. The presence of a Rule 10b5-1 plan reduces the likelihood that sales reflect undisclosed negative developments, but history shows investors often treat sizeable insider selling as a short-term overhang. No business fundamentals are provided in this filing; therefore, any price reaction will center purely on supply-demand dynamics and perception.

Corporate Governance Expert

TL;DR: Scheduled 10b5-1 plan offers transparency, but cumulative insider sales remain significant.

From a governance standpoint, use of an established Rule 10b5-1 trading plan (adopted 26 Mar 2025) adheres to best-practice guidelines, signaling procedural compliance and reducing litigation risk. Nevertheless, directors’ sale volumes can influence investor confidence, particularly when they occur in rapid succession. The cumulative 740,507 shares flagged/sold within one month may prompt shareholders to scrutinize compensation structure, refresh equity-grant cadence, and evaluate alignment of leadership incentives with long-term value creation. Absence of material-adverse-information affirmation is standard but does not eliminate perception risk. Overall, governance process is sound; reputational optics are mixed.

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	0001402348
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Snowflake Inc.
SEC File Number	001-39504
Address of Issuer	106 EAST BABCOCK STREET SUITE 3A BOZEMAN MONTANA 59715
Phone	844-766-9355
Name of Person for Whose Account the Securities are To Be Sold	Slootman Frank
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	Director

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	306502	68185276.36	333700000	06/27/2025	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	06/27/2025	Option Granted - 05/29/2019	Issuer			306502	06/27/2025	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
Frank Slootman Suite 3A 106 East Babcock Street Bozeman MT 59715	Class A	06/10/2025	1859	390315.64
Frank Slootman Suite 3A 106 East Babcock Street Bozeman MT 59715	Class A	06/17/2025	7294	1517152.00
Frank Slootman Suite 3A 106 East Babcock Street Bozeman MT 59715	Class A	06/26/2025	424852	93189806.24

144: Remarks and Signature

Remarks
Date of Notice	06/27/2025
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	03/26/2025
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	/s/ Daniel Tucci, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Frank Slootman
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Snowflake (SNOW) shares does Frank Slootman plan to sell?

306,502 Class A shares according to the Form 144.

What is the estimated market value of the proposed sale in Snowflake's Form 144?

Approximately US $68.19 million.

When was the Rule 10b5-1 trading plan for these Snowflake shares adopted?

The plan was adopted on 26 March 2025.

How many shares has Frank Slootman already sold in the past three months?

He sold 434,005 shares between 10 June and 26 June 2025.

What percentage of Snowflake’s total shares do the proposed and recent sales represent?

Combined, they represent about 0.22 % of the 333.7 million shares outstanding.

Which broker is handling the sale of Snowflake shares?

The broker is Fidelity Brokerage Services LLC.