Snowflake director exercises options, sells 400,000 shares
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Form Type
4
Rhea-AI Filing Summary
Snowflake director Frank Slootman exercised a fully vested stock option for 400,000 shares of Common Stock at an exercise price of $8.880 per share on May 28, 2026, then sold 400,000 common shares in multiple transactions at weighted-average prices between $229.670 and $238.000, effected pursuant to a 10b5-1 trading plan adopted on September 19, 2025. After these transactions, he holds 38,046 Snowflake shares directly and 207,855 shares indirectly through family trusts.
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
Exercise and Sale: 400,000 shares ($89.81M approx. pre-tax spread)
Exercise and Sale
14 txns
Insider
Slootman Frank
Role
Director
Sold
400,000 shs ($93.37M)
Approx. gross sale proceeds
$93.37M
Approx. exercise cost
$3.55M
Approx. pre-tax spread
$89.81M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 400,000 | $0.00 | $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 contracts (Direct);
Common Stock — 38,046 shares (Direct);
Common Stock — 207,855 shares (Indirect, Trust)
Footnotes (14)
- 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. 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.
- F3. 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.
- F4. 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.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. 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.
- F10. The shares are held by the Slootman Grandchildren's Trust dated 7/28/2022 for which the Reporting Person is a trustee.
- F11. The shares are held by the Slootman 2023 Children's Trust dated 9/25/2023 for which the Reporting Person is a trustee.
- F12. 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.
- F13. 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.
- F14. The stock option is fully vested.
Key Figures
Options exercised: 400,000 shares
Exercise price: $8.880 per share
Shares sold: 400,000 shares
+3 more
6 metrics
Options exercised
400,000 shares
Stock Option (Right to Buy) exercised on May 28, 2026
Exercise price
$8.880 per share
Exercise or conversion of derivative security into Common Stock
Shares sold
400,000 shares
Total Snowflake common shares sold on May 28, 2026
Sale price range
$229.670 to $238.000 per share
Weighted-average prices across multiple transactions as described in footnotes
Direct holdings after transaction
38,046 shares
Common Stock held directly by Frank Slootman after reported trades
Indirect holdings after transaction
207,855 shares
Common Stock held indirectly via trusts after reported trades
Key Terms
10b5-1 trading plan, weighted-average price, Grantor Retained Annuity Trust
3 terms
10b5-1 trading plan regulatory
"The exercise and sales ... were effected pursuant to a 10b5-1 trading plan adopted"
A 10b5-1 trading plan is a pre-arranged strategy that allows company insiders to buy or sell company stock at set times, regardless of their current knowledge about the company's situation. It acts like a scheduled appointment for trading, helping prevent the appearance of impropriety or insider trading. This plan provides a way for insiders to sell or buy shares in a controlled, transparent manner, offering reassurance to investors about fair trading practices.
weighted-average price financial
"The price reported in Column 4 is a weighted-average price."
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.
Grantor Retained Annuity Trust financial
"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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transactions did Snowflake (SNOW) director Frank Slootman report on May 28, 2026?
On May 28, 2026, Snowflake director Frank Slootman exercised a stock option for 400,000 shares at $8.880 per share and sold 400,000 common shares in multiple transactions at weighted-average prices under a pre-arranged 10b5-1 trading plan.
Were Frank Slootmans Snowflake (SNOW) trades made under a 10b5-1 plan?
Yes. The filing notes the option exercise and share sales were effected under a 10b5-1 trading plan adopted by Frank Slootman on September 19, 2025, indicating these transactions followed a pre-established trading schedule rather than being discretionary trades.
What stock option did Frank Slootman exercise in Snowflake (SNOW)?
He exercised a fully vested Stock Option (Right to Buy) for 400,000 shares of Snowflake Common Stock at an exercise price of $8.880 per share, with the option scheduled to expire on May 28, 2029, converting the option into an equivalent number of common shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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