[Form 4] Snowflake Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michael L. Speiser, a director of Snowflake Inc. (SNOW), reported multiple sales of Snowflake common stock on 10/03/2025. The transactions were effected under a 10b5-1 trading plan adopted on 12/27/2024 and show weighted-average sale prices in a range roughly between $234 and $242 per share. The shares sold are reported as held indirectly by trusts of which the reporting person is trustee; the reporting person disclaims beneficial ownership except for a pecuniary interest. The Form 4 was signed by an attorney-in-fact on 10/06/2025.

Positive

• Sales executed under a documented 10b5-1 trading plan adopted on 12/27/2024
• Timely disclosure of insider transactions via Form 4 filing signed on 10/06/2025
• Clear reporting of weighted-average sale price ranges for the transactions

Negative

• Director disposed of multiple holdings on 10/03/2025, reducing indirect trust holdings
• Substantial per-share sale prices between $234 and $242 could be interpreted as monetization of equity

Insights

Corporate Governance Analyst

Insider sales executed under a pre-existing 10b5-1 plan; trusts hold the shares.

The report shows multiple disposals of common stock on 10/03/2025 at weighted-average prices reported between $234 and $242. The filings state the sales were made pursuant to a 10b5-1 plan adopted on 12/27/2024, indicating prearranged disposition rather than ad-hoc trading.

Holdings are recorded as indirect via various trusts for which the reporting person is trustee; the filing disclaims beneficial ownership except for pecuniary interest. Monitor any future filings for changes in plan status or further reductions in trust-held shares over the next several quarters.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Speiser Michael L

(Last) (First) (Middle)

C/O SNOWFLAKE INC.

106 EAST BABOCK STREET, SUITE 3A

(Street)

BOZEMAN MT 59715

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Snowflake Inc. [ SNOW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/03/2025		S(1)		16	D	$236.019(2)	34,876	I	By Trust (AMS-21)(3)
Common Stock	10/03/2025		S(1)		440	D	$234.383(4)	34,436	I	By Trust (AMS-21)(3)
Common Stock	10/03/2025		S(1)		27	D	$241.486(5)	35,249	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		30	D	$240.47(6)	35,219	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		114	D	$239.349(7)	35,105	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		44	D	$238.724(8)	35,061	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		108	D	$237.506(9)	34,953	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		61	D	$236.16(10)	34,892	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		16	D	$236.019(2)	34,876	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		440	D	$234.383(4)	34,436	I	By Trust (ESS-21)(3)
Common Stock	10/03/2025		S(1)		27	D	$241.486(5)	35,249	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		30	D	$240.47(6)	35,219	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		115	D	$239.349(7)	35,104	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		44	D	$238.724(8)	35,060	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		108	D	$237.506(9)	34,952	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		61	D	$236.16(10)	34,891	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		16	D	$236.019(2)	34,875	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		439	D	$234.383(4)	34,436	I	By Trust (LES-21)(3)
Common Stock	10/03/2025		S(1)		27	D	$241.486(5)	35,249	I	By Trust (WWS-21)(3)
Common Stock	10/03/2025		S(1)		30	D	$240.47(6)	35,219	I	By Trust (WWS-21)(3)
Common Stock	10/03/2025		S(1)		115	D	$239.349(7)	35,104	I	By Trust (WWS-21)(3)
Common Stock	10/03/2025		S(1)		44	D	$238.724(8)	35,060	I	By Trust (WWS-21)(3)
Common Stock	10/03/2025		S(1)		108	D	$237.506(9)	34,952	I	By Trust (WWS-21)(3)
Common Stock	10/03/2025		S(1)		61	D	$236.16(10)	34,891	I	By Trust (WWS-21)(3)
Common Stock	10/03/2025		S(1)		16	D	$236.019(2)	34,875	I	By Trust (WWS-21)(3)
Common Stock	10/03/2025		S(1)		439	D	$234.383(4)	34,436	I	By Trust (WWS-21)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 27, 2024.

2. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $236.000 to $236.025, 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 range set forth in this footnote.

3. Shares held by a trust of which the Reporting Person is a Trustee. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest therein.

4. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $234.000 to $234.750, inclusive.

5. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $241.070 to $242.065, inclusive.

6. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $240.050 to $241.040, inclusive.

7. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $239.045 to $240.040, inclusive.

8. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $238.055 to $239.040, inclusive.

9. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $237.040 to $238.030, inclusive.

10. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $236.026 to $237.025, inclusive.

Remarks:

2 of 2 Forms 4 for transactions on October 3, 2025.

	/s/ Marie Reider, Attorney-in-Fact	10/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who reported the insider trades for Snowflake (SNOW)?

The reporting person is Michael L. Speiser, identified as a Director of Snowflake Inc.

When were the transactions executed?

The reported sales occurred on 10/03/2025 and the Form 4 was signed on 10/06/2025.

Were the sales part of a trading plan?

Yes. The sales were effected pursuant to a 10b5-1 trading plan adopted on 12/27/2024.

At what prices were the Snowflake shares sold?

The filing reports weighted-average sale prices in multiple ranges, approximately $234 to $242 per share.

Are the sold shares held directly by the reporting person?

No. The shares are reported as held indirectly by trusts where the reporting person is trustee; the reporter disclaims beneficial ownership except for a pecuniary interest.