Snowflake director exercises options, sells 55,350 shares
Snowflake Inc. director Frank Slootman reported a pre‑planned option exercise and share sale.
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Form Type
4
Rhea-AI Filing Summary
Snowflake Inc. director Frank Slootman reported a pre‑planned option exercise and share sale. On May 26, 2026, he exercised stock options to acquire 55,350 shares of Snowflake common stock at an exercise price of $8.88 per share and sold 55,350 shares in open‑market transactions at weighted‑average prices in the mid‑$170s, all pursuant to a Rule 10b5‑1 trading plan adopted on September 19, 2025. Following these transactions, he continues to hold Snowflake shares indirectly through several family trusts and retains 6,336,655 stock options that remain outstanding and fully vested.
Insider Trade Summary 10b5-1
Exercise and Sale: 55,350 shares ($9.28M approx. pre-tax spread)
Exercise and Sale
9 txns
Insider
Slootman Frank
Role
Director
Sold
55,350 shs ($9.77M)
Approx. gross sale proceeds
$9.77M
Approx. exercise cost
$492K
Approx. pre-tax spread
$9.28M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 55,350 | $0.00 | $0.00 |
| Exercise | Common Stock | 55,350 | $8.88 | $492K |
| Sale | Common Stock | 19,077 | $175.466 | $3.35M |
| Sale | Common Stock | 14,174 | $176.419 | $2.50M |
| Sale | Common Stock | 22,099 | $177.498 | $3.92M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 6,336,655 contracts (Direct);
Common Stock — 38,046 shares (Direct);
Common Stock — 207,855 shares (Indirect, Trust)
Footnotes (10)
- F1. The exercise and sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 19, 2025.
- F2. Includes shares to be issued in connection with the vesting of one or more restricted stock units.
- F3. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $175.000 to $175.965, 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 ranges set forth in these footnotes.
- F4. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $176.000 to $176.870, inclusive.
- F5. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $177.135 to $178.080, inclusive.
- F6. The shares are held by the Slootman Grandchildren's Trust dated 7/28/2022 for which the Reporting Person is a trustee.
- F7. The shares are held by the Slootman 2023 Children's Trust dated 9/25/2023 for which the Reporting Person is a trustee.
- F8. The shares are held by the F. Slootman 2024 Grantor Retained Annuity Trust dated 12/3/2024 for which the Reporting Person is the trustee.
- F9. The shares are held by the B. Slootman 2024 Grantor Retained Annuity Trust dated 12/3/2024 for which the Reporting Person's spouse is the trustee.
- F10. The stock option is fully vested.
Key Figures
Shares sold: 55,350 shares
Sale price tranche 1: $175.466/share
Sale price tranche 2: $176.419/share
+5 more
8 metrics
Shares sold
55,350 shares
Open-market sales of common stock on May 26, 2026
Sale price tranche 1
$175.466/share
Weighted-average price for 19,077 shares sold
Sale price tranche 2
$176.419/share
Weighted-average price for 14,174 shares sold
Sale price tranche 3
$177.498/share
Weighted-average price for 22,099 shares sold
Options exercised
55,350 options
Stock options exercised into common shares on May 26, 2026
Exercise price
$8.88/share
Strike price of exercised stock options
Options remaining
6,336,655 options
Stock options directly held after reported transactions
Indirect trust holding example
56,331 shares
Common stock held indirectly via a family trust
Key Terms
Rule 10b5-1 trading plan, Grantor Retained Annuity Trust, restricted stock units, weighted-average price, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"The exercise and sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted..."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Grantor Retained Annuity Trust financial
"The shares are held by the F. Slootman 2024 Grantor Retained Annuity Trust dated 12/3/2024..."
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
restricted stock units financial
"Includes shares to be issued in connection with the vesting of one or more restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
weighted-average price financial
"The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions..."
Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.
Stock Option (Right to Buy) financial
"security_title: "Stock Option (Right to Buy)" with underlying security title Common Stock"
fully vested financial
"The stock option is fully vested."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Snowflake (SNOW) director Frank Slootman report in this Form 4?
Frank Slootman reported an option exercise and matching share sales. He exercised 55,350 stock options at $8.88 per share and sold 55,350 Snowflake common shares in open‑market transactions, all under a pre‑arranged Rule 10b5‑1 trading plan adopted in September 2025.
What stock options did Frank Slootman exercise in Snowflake (SNOW)?
He exercised 55,350 stock options with an exercise price of $8.88 per share, converting them into an equal number of Snowflake common shares. The filing notes that this stock option is fully vested and that the exercise was part of a Rule 10b5‑1 trading plan.
Does Frank Slootman still hold Snowflake (SNOW) stock options after this Form 4?
Yes. After exercising 55,350 options, he still holds 6,336,655 stock options. These remaining options are reported as directly owned, fully vested, and continue to provide substantial exposure to Snowflake’s equity through future potential exercises before their stated expiration date.
Were Frank Slootman’s Snowflake (SNOW) transactions made under a Rule 10b5-1 plan?
Yes. The filing states the exercise and related sales were effected under a Rule 10b5‑1 trading plan adopted on September 19, 2025. Such plans are pre‑arranged instructions for trading, designed to reduce concerns about discretionary trading based on non‑public information.
What indirect Snowflake (SNOW) holdings are reported for Frank Slootman?
The Form 4 identifies indirect ownership through several family trusts, including the Slootman Grandchildren’s Trust, the Slootman 2023 Children’s Trust, and two 2024 Grantor Retained Annuity Trusts. These trusts collectively hold tens of thousands of Snowflake common shares with Slootman or his spouse serving as trustee.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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