Slootman Frank 4

What Happened

• Frank Slootman, a director of Snowflake Inc. (SNOW), executed option transactions and sold stock on January 20, 2026. He exercised 200,000 shares at $8.88 (cost $1,776,000) and, in separate reported transactions that day, sold a total of 200,000 shares in the open market for aggregate proceeds of approximately $41.35 million. The sales were effected under a pre-established Rule 10b5-1 trading plan.

Key Details

• Transaction date: January 20, 2026 (Form 4 filed January 22, 2026).
• Exercise (M): 200,000 shares acquired at $8.88 each for $1,776,000.
• Sales (S): five open-market lots totaling 200,000 shares at weighted prices of $205.46, $206.67, $207.48, $208.67, and $209.20 (aggregate proceeds ≈ $41.35M). Footnotes give price ranges for the multiple trades within each lot (F3–F7).
• Additional derivative entry: 200,000 shares listed as a derivative conversion/disposition at $0 (reported as M, see F13 regarding conversion of some incentive option shares).
• Plan/notes: Sales executed pursuant to a 10b5-1 plan adopted Sept 19, 2025 (F1). Several holdings are held in trusts for which Slootman or his spouse serve as trustee (F8–F11).
• Shares owned after the transactions: not specified in the provided filing details.
• Filing timeliness: Form filed 2 days after the transactions (no indication in the provided data that the filing was late).

Context

• The pattern here shows an option exercise coupled with contemporaneous open-market sales under a pre-existing 10b5-1 plan. That structure is commonly used to sell shares according to a preset schedule and avoids real-time trading decisions; it does not, by itself, indicate Slootman’s current view of the company.
• For retail investors: purchases (new buy orders by insiders) often draw more attention as potential positive signals. In this case the material cash proceeds came from planned sales; the exercise of options at a low strike is a routine step to access shares for sale or holding.