Snowflake insider sells 25,000 shares at $234.64 after $13.48 exercise
Rhea-AI Filing Summary
Insider transactions by Benoit Dageville, President of Products and director at Snowflake Inc. (SNOW). On 10/02/2025 the reporting person exercised 25,000 stock options with an exercise price of $13.48, acquiring 25,000 shares. Immediately the same day he sold 25,000 shares at $234.64 per share and made a separate gift of 7,500 shares. Following these transactions the report shows 75,519 shares held directly and multiple indirect holdings: 3,081,555 shares in trust and two additional trust interests of 750,000 and 750,000 shares respectively, some of which the reporting person disclaims beneficial ownership of.
The filing states these moves were made under a 10b5-1 trading plan adopted on 03/28/2025. The option exercised is fully vested and the sale and gift were effected pursuant to that plan.
Positive
- Option exercise used existing vested grant (25,000 options fully vested) executed under a 10b5-1 plan
- Large realized spread between exercise price $13.48 and sale price $234.64, indicating significant proceeds
Negative
- Substantial share sales (25,000 shares sold) reduce direct ownership to 75,519 shares
- Complex trust holdings (totaling over 4.5M shares) may obscure actual control and future transfer timing
Insights
TL;DR: A vested option exercise followed by an immediate market sale and a gift, executed under a 10b5-1 plan.
The reporting person exercised 25,000 options at an exercise price of $13.48 and sold 25,000 shares at $234.64 on 10/02/2025, realizing a large per-share spread between exercise price and sale price. The filing also reports a gift of 7,500 shares and the existence of significant indirect holdings via multiple trusts totaling over 4.5M shares when combined.
Because the transactions were executed under a 10b5-1 plan adopted on 03/28/2025, this indicates pre-arranged timing rather than ad-hoc trading. Watch for future scheduled plan disclosures or additional Form 4s if further plan-based sales or transfers occur within the next 12 months.
TL;DR: The filing clarifies direct and indirect ownership and documents a trustee relationship and disclaimer for some trust-held shares.
The report shows direct beneficial ownership of 75,519 shares after transactions and indirect holdings including 3,081,555 shares in a trust where the reporting person is trustee, plus two grants/GRAT-related trusts each holding 750,000 shares. One of the GRAT-held 750,000 shares is disclaimed by the reporting person because the spouse is trustee.
These disclosures affect control and related-party visibility. Investors and governance reviewers will note the trustee roles and the disclaimer language; any future changes in trustee status or transfers from those trusts would be material to ownership structure and should be monitored in subsequent filings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 25,000 | $0.00 | -- |
| Exercise | Common Stock | 25,000 | $13.48 | $337K |
| Sale | Common Stock | 25,000 | $234.64 | $5.87M |
| Gift | Common Stock | 7,500 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The gift, exercise, and sale were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on March 28, 2025. Includes shares to be issued in connection with the vesting of one or more restricted stock units. The shares are held by The Snow Trust UTA dated 9/10/19 for which the Reporting Person is a trustee. The shares are held by The Thira GRAT No. 1 dated 3/13/2025 for which the Reporting Person's spouse is the trustee. The Reporting Person has no right to or interest in these shares and disclaims beneficial ownership of these shares. The shares are held by The Selene GRAT No. 1 dated 3/13/2025 for which the Reporting Person is the trustee. The stock option is fully vested.
