Snowflake (SNOW) Director Mark Garrett Exercises Options, Sells 50,000 Shares

What Happened
Mark Garrett, a director of Snowflake (SNOW), exercised stock options and sold shares on September 4, 2026. The filing shows he exercised 50,000 option shares at $3.74 per share (cost ≈ $187,000) and immediately sold 50,000 shares in an open-market transaction at $350.00 per share for proceeds of $17,500,000. The filing also reports a separate 50,000-share derivative conversion shown as disposed for $0.00 (see footnotes).

Key Details

• Transaction date: 2026-09-04 (reported on Form 4 filed 2026-09-09).
• Option exercise: 50,000 shares exercised at $3.74 each (total ≈ $187,000). Stock option is fully vested (Footnote F6).
• Open-market sale: 50,000 shares sold at $350.00 each (proceeds ≈ $17,500,000).
• Additional derivative entry: 50,000 shares reported as converted/disposed at $0.00 (see Footnote F1 re: shares issued on RSU vesting).
• Share ownership after the transactions: not specified in the provided excerpt of the filing.
• Relevant footnotes: F1 (includes shares to be issued on RSU vesting); F2–F5 (certain shares are held in irrevocable trusts for the Reporting Person’s children); F6 (option fully vested).

Context
Because Garrett exercised options and sold an equal number of shares on the same date, this appears to be a cashless-style exercise and sale (exercise followed by immediate sale). Sales are common for executives/directors when exercising options to cover costs/taxes or to diversify; filings do not state motivations. Check the full Form 4 for exact post-transaction holdings and any additional explanatory notes.