Were the Snowflake (SNOW) share sales by Michael L. Speiser pre-planned?

Yes. The filing states all reported sales were executed under a Rule 10b5-1 trading plan adopted on December 27, 2024. Such plans allow insiders to schedule trades in advance, providing a structured framework for selling shares over time.

Snowflake (SNOW) director Speiser, trusts and LP report 10b5-1 stock sales

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Snowflake Inc. director Michael L. Speiser reported multiple sales of Snowflake common stock on February 6, 2026, including both shares held directly and shares held through related entities. Direct holdings show sales of 121 and 282 shares at weighted-average prices around $165.645 and $165.04, respectively.

Additional sales were made by a limited partnership and several trusts associated with Speiser, with individual transactions such as 3,936 and 10,317 shares from indirect holdings. The filing states these trades were executed under a pre-established Rule 10b5-1 trading plan adopted on December 27, 2024, and includes standard disclaimers that Speiser reports but disclaims beneficial ownership beyond his pecuniary interest.

Insider Trade Summary

Net Seller: 50,741 shares ($8,383,608)

Net Sell 18 txns

Insider Speiser Michael L

Role Director

Sold 50,741 shs ($8.38M)

Type	Security	Shares	Price	Value
Sale	Common Stock	121	$165.645	$20K
Sale	Common Stock	282	$165.04	$47K
Sale	Common Stock	3,936	$165.645	$652K
Sale	Common Stock	9,037	$165.04	$1.49M
Sale	Common Stock	255	$165.645	$42K
Sale	Common Stock	585	$165.04	$97K
Sale	Common Stock	255	$165.645	$42K
Sale	Common Stock	585	$165.04	$97K
Sale	Common Stock	255	$165.645	$42K
Sale	Common Stock	585	$165.04	$97K
Sale	Common Stock	255	$165.645	$42K
Sale	Common Stock	585	$165.04	$97K
Sale	Common Stock	10,317	$165.645	$1.71M
Sale	Common Stock	23,688	$165.04	$3.91M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 24,000 shares (Direct); Common Stock — 489,022 shares (Indirect, By Ltd Partnership)

Footnotes (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. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $166.280 to $165.295, 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. Includes shares to be issued in connection with the vesting of one or more restricted stock units. The Reporting Person shares pecuniary interest in these shares with other parties pursuant to contractual relationships. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest in these shares. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $165.270 to $165.000, inclusive. Shares held by a limited partnership of which the Reporting Person is a trustee of a trust which is the general partner. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest therein. 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. Shares held by Sutter Hill Ventures, a California Limited Partnership ("SHV"). The Reporting Person is a managing director and member of the management committee of the general partner of SHV. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest therein. Shares held by SHM Investments, LLC ("SHMI"). The Reporting Person is a managing member of SHMI. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest therein.

Form 4 Insider Transactions: What Each Field Means →

02/06/2026 - 07:34 PM

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).

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

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)
02/06/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/06/2026		S⁽¹⁾		121	D	$165.645⁽²⁾	24,000⁽³⁾	D
Common Stock	02/06/2026		S⁽¹⁾		282	D	$165.04⁽⁴⁾	23,718⁽³⁾	D
Common Stock	02/06/2026		S⁽¹⁾		3,936	D	$165.645⁽²⁾	489,022	I	By Ltd Partnership⁽⁵⁾
Common Stock	02/06/2026		S⁽¹⁾		9,037	D	$165.04⁽⁴⁾	479,985	I	By Ltd Partnership⁽⁵⁾
Common Stock	02/06/2026		S⁽¹⁾		255	D	$165.645⁽²⁾	31,661	I	By Trust (AMS-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		585	D	$165.04⁽⁴⁾	31,076	I	By Trust (AMS-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		255	D	$165.645⁽²⁾	31,661	I	By Trust (WWS-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		585	D	$165.04⁽⁴⁾	31,076	I	By Trust (WWS-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		255	D	$165.645⁽²⁾	31,661	I	By Trust (LES-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		585	D	$165.04⁽⁴⁾	31,076	I	By Trust (LES-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		255	D	$165.645⁽²⁾	31,661	I	By Trust (ESS-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		585	D	$165.04⁽⁴⁾	31,076	I	By Trust (ESS-21)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		10,317	D	$165.645⁽²⁾	1,358,977	I	By Trust (Rev Tr)⁽⁶⁾
Common Stock	02/06/2026		S⁽¹⁾		23,688	D	$165.04⁽⁴⁾	1,335,289	I	By Trust (Rev Tr)⁽⁶⁾
Common Stock								790,158	I	By Sutter Hill Ventures⁽⁷⁾
Common Stock								2,288	I	By SHM Investments, LLC⁽⁸⁾
Common Stock								2,500	I	By Trust (SCT)⁽⁶⁾
Common Stock								402	I	By Trust (SRT)⁽⁶⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 $166.280 to $165.295, 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. Includes shares to be issued in connection with the vesting of one or more restricted stock units. The Reporting Person shares pecuniary interest in these shares with other parties pursuant to contractual relationships. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest in these shares.

4. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $165.270 to $165.000, inclusive.

5. Shares held by a limited partnership of which the Reporting Person is a trustee of a trust which is the general partner. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest therein.

6. 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.

7. Shares held by Sutter Hill Ventures, a California Limited Partnership ("SHV"). The Reporting Person is a managing director and member of the management committee of the general partner of SHV. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest therein.

8. Shares held by SHM Investments, LLC ("SHMI"). The Reporting Person is a managing member of SHMI. The Reporting Person disclaims beneficial ownership in these shares except as to the Reporting Person's pecuniary interest therein.

Remarks:

	/s/ Marie Reider, Attorney-in-Fact	02/06/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Snowflake (SNOW) director Michael L. Speiser report in this Form 4?

He reported multiple sales of Snowflake common stock on February 6, 2026, from both direct and indirect holdings. Direct transactions included 121 and 282 shares, while entities such as a limited partnership and several trusts also sold shares reported as indirectly owned.

At what prices were the Snowflake (SNOW) shares sold in this insider filing?

The reported sales used weighted-average prices of about $165.645 and $165.04 per share. Footnotes explain these averages reflect numerous trades within ranges of $166.280 to $165.295 and $165.270 to $165.000, with detailed breakdowns available upon request from the reporting person.

Which entities associated with Michael L. Speiser sold Snowflake (SNOW) shares?

Indirect sales were attributed to a limited partnership and multiple trusts, including AMS-21, WWS-21, LES-21, ESS-21, and a revocable trust. The Form 4 notes that Speiser reports these holdings but disclaims beneficial ownership except for his pecuniary interest in the shares.

How many Snowflake (SNOW) shares does Michael L. Speiser report owning directly after the transactions?

After the reported February 6, 2026 sales, direct holdings are shown as 24,000 shares following one trade and 23,718 shares following another. These figures reflect his remaining directly held Snowflake common stock, separate from the larger indirect positions reported through affiliated entities.

What indirect Snowflake (SNOW) holdings remain associated with Michael L. Speiser after these trades?

The filing lists substantial remaining indirect holdings, including 489,022 and 479,985 shares via a limited partnership and over 1.33 million shares via a revocable trust. Additional indirect positions include shares held by Sutter Hill Ventures, SHM Investments, LLC, and several smaller family trusts.