Dageville Benoit 4

What Happened
Benoit Dageville, Snowflake founder, Chief Architect and director, received 14,239 restricted stock units (RSUs) that vested on March 20, 2026. To cover tax withholding on the vesting, 598 shares (reported at $175.40 each, $104,889) and 287 shares (reported at $175.40 each, $50,340) were surrendered. Separately, on March 23, 2026 he sold 874 shares in an open-market transaction at $170.01 per share for total proceeds of $148,589. The RSUs vest over time (see Key Details).

Key Details

• Transaction dates and prices:
  • 2026-03-20: 14,239 RSUs reported as acquired (no cash price).
  • 2026-03-20: 598 shares withheld at $175.40 each = $104,889 (tax withholding).
  • 2026-03-20: 287 shares withheld at $175.40 each = $50,340 (tax withholding).
  • 2026-03-23: 874 shares sold at $170.01 each = $148,589 (open-market sale).
• Shares owned after transaction: Not specified in the filing (ownership details held in various trusts per footnotes).
• Notable footnotes:
  • F1: Shares withheld to satisfy tax withholding on RSU vesting.
  • F3: RSUs vest quarterly over four years (quarterly vesting dates: Mar 15, Jun 15, Sep 15, Dec 15; 6.25% vesting on June 15, 2026 and each Quarterly Vest Date thereafter), subject to continuous service.
  • F4: The March 23 sale was executed under a 10b5-1 trading plan adopted March 28, 2025.
  • F5–F7: Some shares are held in trusts (Selene GRAT, Thira GRAT, Snow Trust); the filing notes trustee relationships and a disclaimer of beneficial ownership for the spouse-held GRAT.
• Filing timeliness: Form 4 filed 2026-03-24; based on transaction dates, this appears to be timely.

Context

• The acquisition reported is the vesting of RSUs (an award), not an option exercise. The tax-related disposals reflect shares withheld to cover taxes (a routine cashless withholding), not separate investment decisions.
• The March 23 sale was pre-planned under a 10b5-1 plan, which is a pre-established trading arrangement that insiders often use to systematically sell shares; such sales are generally viewed as routine rather than a real-time signal of sentiment.
• For retail investors: new RSUs increase an insider’s potential future stake as they vest, while the small open-market sale and withholding are common administrative actions and do not, by themselves, indicate a change in company outlook.