Snowflake (SNOW) director sells 437,076 shares after option exercise
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Snowflake Inc. director Frank Slootman reported a combination of option exercise and open-market sales of the company’s common stock. On May 29, 2026, he exercised 437,076 stock options at an exercise price of $8.88 per share and acquired the same number of common shares. He then sold 437,076 shares in multiple open-market transactions at weighted-average prices reported around the mid‑$250s per share, all carried out under a Rule 10b5-1 trading plan adopted on September 19, 2025. Following these transactions, he held 352,257 Snowflake common shares directly, along with additional shares held indirectly through several family trusts, where individual trust positions ranged from 16,300 to 78,893 shares as of the reported date. After the exercise, a related stock option position showed 5,499,579 options remaining outstanding.
Positive
- None.
Negative
- None.
Insights
Slootman executed an exercise-and-sell under a 10b5-1 plan, leaving a large remaining equity stake.
The filing shows Frank Slootman exercising 437,076 stock options at an exercise price of $8.88 per share and selling the resulting shares in open-market transactions around the mid‑$250 range. This is a classic executive compensation pattern: converting options into shares, then into cash.
Importantly, these trades were effected under a Rule 10b5-1 trading plan adopted on September 19, 2025, indicating they were pre-scheduled rather than timed opportunistically. After the transactions, he still held 352,257 common shares directly and maintained a sizable option position of 5,499,579 remaining stock options, suggesting continued significant exposure to Snowflake’s equity.
The combination of planned sales and substantial remaining holdings points to routine liquidity management rather than a clear directional signal about Snowflake’s prospects. Future company filings may provide additional context on how his equity position evolves over time and how quickly remaining options are exercised ahead of their May 28, 2029 expiration.
Insider Trade Summary 10b5-1
Net Seller: 437,076 shares ($110,332,853)
Net Sell
13 txns
Insider
Slootman Frank
Role
null
Sold
437,076 shs ($110.33M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 437,076 | $0.00 | -- |
| Exercise | Common Stock | 437,076 | $8.88 | $3.88M |
| Sale | Common Stock | 122,865 | $250.441 | $30.77M |
| Sale | Common Stock | 97,386 | $251.605 | $24.50M |
| Sale | Common Stock | 38,635 | $252.405 | $9.75M |
| Sale | Common Stock | 75,226 | $253.36 | $19.06M |
| Sale | Common Stock | 64,328 | $254.436 | $16.37M |
| Sale | Common Stock | 34,571 | $255.723 | $8.84M |
| Sale | Common Stock | 4,065 | $256.022 | $1.04M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 5,499,579 shares (Direct, null);
Common Stock — 475,122 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. Includes shares to be issued in connection with the vesting of one or more restricted stock units. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $250.000 to $250.990, 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 $251.000 to $251.995, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $252.000 to $252.980, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $253.000 to $253.990, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $254.000 to $254.990, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $255.000 to $255.990, inclusive. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $256.000 to $256.150, 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
Options exercised: 437,076 shares
Exercise price: $8.88 per share
Shares sold: 437,076 shares
+5 more
8 metrics
Options exercised
437,076 shares
Stock options exercised on May 29, 2026 at $8.88
Exercise price
$8.88 per share
Exercise price for 437,076 stock options
Shares sold
437,076 shares
Total Snowflake common shares sold in open-market trades
Representative sale price
$250.441 per share
Weighted-average price for a 122,865-share tranche
Direct common shares after trades
352,257 shares
Direct Snowflake holdings following reported transactions
Remaining stock options
5,499,579 options
Stock options remaining outstanding after the exercise
Trust holding example
78,893 shares
Common shares held in one family trust as of May 29, 2026
Smallest trust holding
16,300 shares
Common shares held in another family trust as of May 29, 2026
Key Terms
Rule 10b5-1 trading plan, weighted-average price, Grantor Retained Annuity Trust, restricted stock units, +2 more
6 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 $250.000 to $250.990, 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.
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.
Stock Option (Right to Buy) financial
"Stock Option (Right to Buy) transaction with 437,076 underlying common shares and an exercise price of $8.8800 per share."
open-market sale financial
"Sale in open market or private transaction reported with transaction code "S" for common stock."
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
What did Snowflake (SNOW) director Frank Slootman report in this Form 4?
He reported exercising 437,076 stock options at $8.88 per share and selling 437,076 Snowflake common shares in open-market transactions, all executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 19, 2025.
What stock options did Frank Slootman exercise in Snowflake (SNOW)?
He exercised 437,076 Snowflake stock options at an exercise price of $8.88 per share. A related derivative entry shows 5,499,579 stock options remaining outstanding after this exercise, with an expiration date disclosed as May 28, 2029.
Was Frank Slootman’s Snowflake (SNOW) stock sale pre-planned under Rule 10b5-1?
Yes. A footnote states the exercise and sales were effected pursuant to a Rule 10b5-1 trading plan adopted on September 19, 2025. Such plans pre-schedule trades, which generally reduces the significance of the precise sale timing as a market signal.
How are trusts involved in Frank Slootman’s Snowflake (SNOW) holdings?
Several trusts, including grandchildren’s and children’s trusts and Grantor Retained Annuity Trusts, hold Snowflake shares with Slootman or his spouse as trustee. These trust holdings are reported as indirect ownership, distinct from his 352,257 directly held common shares.