Frank Slootman (SNOW) exercises 400K options and sells 400K shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Snowflake Inc. director Frank Slootman reported a large, pre-planned option exercise and share sale. On May 28, 2026, he exercised stock options to acquire 400,000 shares of common stock at an exercise price of $8.88 per share and sold 400,000 shares in open-market transactions at weighted-average prices generally between about $229.67 and $238.00.
The filing states these exercise and sale transactions were carried out under a Rule 10b5-1 trading plan adopted on September 19, 2025, indicating they were pre-scheduled. Following the transactions, Slootman directly holds 438,046 shares of Snowflake common stock, plus additional indirect holdings through several family trusts and 5,936,655 stock options that remain outstanding.
Positive
- None.
Negative
- None.
Insights
Pre-planned option exercise and matched share sale, with sizable equity stake remaining.
Frank Slootman exercised 400,000 stock options at an exercise price of $8.88 and sold an equal 400,000 shares of Snowflake common stock on May 28, 2026. Prices were reported as weighted averages, with trades executed in ranges roughly from $229.67 to $238.00.
The filing notes these transactions were effected under a Rule 10b5-1 trading plan adopted on September 19, 2025, suggesting a pre-arranged liquidity program rather than ad hoc market timing. After the exercise and sales, Slootman directly owns 438,046 shares and holds 5,936,655 stock options plus additional shares via family trusts, indicating a substantial continuing exposure to Snowflake’s equity.
Insider Trade Summary 10b5-1
Net Seller: 400,000 shares ($93,366,579)
Net Sell
14 txns
Insider
Slootman Frank
Role
null
Sold
400,000 shs ($93.37M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 400,000 | $0.00 | -- |
| Exercise | Common Stock | 400,000 | $8.88 | $3.55M |
| Sale | Common Stock | 28,740 | $230.174 | $6.62M |
| Sale | Common Stock | 13,976 | $231.063 | $3.23M |
| Sale | Common Stock | 41,321 | $232.307 | $9.60M |
| Sale | Common Stock | 124,883 | $233.17 | $29.12M |
| Sale | Common Stock | 143,283 | $234.089 | $33.54M |
| Sale | Common Stock | 29,148 | $234.961 | $6.85M |
| Sale | Common Stock | 14,463 | $236.535 | $3.42M |
| Sale | Common Stock | 4,186 | $237.289 | $993K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 5,936,655 shares (Direct, null);
Common Stock — 438,046 shares (Direct, null);
Common Stock — 16,300 shares (Indirect, Trust)
Footnotes (1)
- 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. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $229.670 to $230.660, 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. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $230.680 to $231.670, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $231.700 to $232.685, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $232.700 to $233.690, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $233.700 to $234.685, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $234.720 to $235.560, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $236.020 to $237.000, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $237.050 to $238.000, inclusive. The shares are held by the Slootman Grandchildren's Trust dated 7/28/2022 for which the Reporting Person is a trustee. The shares are held by the Slootman 2023 Children's Trust dated 9/25/2023 for which the Reporting Person is a trustee. 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. 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. The stock option is fully vested.
Key Figures
Shares sold: 400,000 shares
Exercise shares: 400,000 shares
Option exercise price: $8.88 per share
+4 more
7 metrics
Shares sold
400,000 shares
Open-market sales of common stock on May 28, 2026
Exercise shares
400,000 shares
Stock options exercised into common stock on May 28, 2026
Option exercise price
$8.88 per share
Exercise price for 400,000 stock options
Sale price range
$229.67–$238.00
Weighted-average sale price ranges from footnotes F2–F9
Direct shares after transactions
438,046 shares
Direct Snowflake common stock holdings following reported trades
Remaining stock options
5,936,655 options
Total stock options outstanding after 400,000-option exercise
Trust holding example
56,331 shares
Snowflake shares held by Slootman Grandchildren's Trust
Key Terms
Rule 10b5-1 trading plan, weighted-average price, Grantor Retained Annuity Trust, Stock Option (Right to Buy)
4 terms
Rule 10b5-1 trading plan financial
"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."
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.
weighted-average price financial
"The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $229.670 to $230.660, inclusive."
Grantor Retained Annuity Trust financial
"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."
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.
Stock Option (Right to Buy) financial
"Stock Option (Right to Buy) ... underlying security title Common Stock, underlying security shares 400000.0000"
FAQ
What did Snowflake (SNOW) director Frank Slootman report in this Form 4?
Frank Slootman reported exercising 400,000 stock options and selling 400,000 Snowflake common shares. The transactions occurred on May 28, 2026 under a pre-arranged Rule 10b5-1 trading plan adopted in September 2025, reflecting structured liquidity activity rather than spontaneous market timing.
What stock options did Frank Slootman exercise in Snowflake (SNOW)?
Slootman exercised 400,000 stock options to buy Snowflake common stock at an exercise price of $8.88 per share. The filing notes that this option is fully vested, and a separate derivative entry shows 5,936,655 stock options remaining outstanding following the exercise transaction.