Slootman Frank 4

What Happened
Frank Slootman, a director of Snowflake (SNOW), exercised vested stock options and immediately sold the resulting 100,000 shares. He exercised 88,701 shares on 2026-03-18 and 11,299 shares on 2026-03-19 at an exercise price of $8.88 per share (total exercise cost $888,000). Those 100,000 shares were sold in open-market transactions across multiple trades for total gross proceeds of $17,585,542 (weighted-average prices reported per trade groups).

Key Details

• Transaction dates: exercises on 2026-03-18 and 2026-03-19; sales primarily on 2026-03-18 and 2026-03-19. Form filed 2026-03-20.
• Exercise details: 100,000 shares exercised (88,701 + 11,299) at $8.88 each; total exercise cost $888,000. (Footnote F11: options fully vested.)
• Sales breakdown (open-market): 51,852 @ $175.26 = $9,087,478; 19,715 @ $176.54 = $3,480,565; 17,134 @ $177.27 = $3,037,327; 11,299 @ $175.25 = $1,980,172. Total proceeds $17,585,542. Weighted-average price groupings and ranges noted in footnotes (F3–F6).
• Plan/authorization: Transactions were executed pursuant to a 10b5‑1 trading plan adopted by Slootman on 2025-09-19 (F1).
• Holdings/beneficial ownership: The filing references shares held in family trusts for which Slootman or his spouse serve as trustee (F7–F10). The filing excerpt provided does not state shares owned after these transactions.
• Filing timeliness: Form 4 filed 2026-03-20 for trades on 3/18–3/19; no late filing is indicated in the provided excerpt.

Context
This was a classic exercise-and-sell (cashless-style) pattern: options were exercised and the acquired shares were sold soon after under a pre-established 10b5‑1 plan. Such pre-set plans and fully vested options mean the timing and size of these sales were likely planned in advance; they are routine insider liquidity events and do not, by themselves, indicate a change in the insider’s view of the company.