Slootman Frank 4

What Happened
Frank Slootman, a Snowflake director, exercised 100,000 stock options (paid $8.88 per share, $888,000 total) and on the same day sold 100,000 shares in multiple open-market transactions for aggregate proceeds of approximately $17,690,822. The sales were executed across several trades at prices ranging from about $175.00 to $178.20 per share. This sequence (exercise followed by sale) is commonly a liquidity/cashless exercise pattern rather than a fresh market purchase.

Key Details

• Transaction date: 2026-02-18; Form filed: 2026-02-19 (timely filing).
• Exercises (code M): 100,000 shares acquired at $8.88 each (total $888,000); an additional derivative entry shows a 100,000 share disposition at $0.00 (reflects conversion/termination of the derivative instrument).
• Sales (code S): 9,275 @ $175.44; 53,436 @ $176.70; 34,781 @ $177.54; 2,508 @ $178.13 — total 100,000 shares sold for ~$17.69M. Reported prices are weighted averages; individual trades ranged roughly $175.00–$178.20 (see footnotes for exact ranges).
• Option status: the option was fully vested (footnote F11).
• Plan/holding notes: sales were made pursuant to a 10b5-1 trading plan adopted 9/19/2025 (footnote F1). Some reported shares are held in various family trusts (see footnotes F7–F10). Footnote F2 notes inclusion of shares issuable from RSU vesting.
• Shares owned after the transactions: not specified in the provided filing details.

Context
The filing shows an option exercise followed by immediate market sales of the same number of shares, a typical cashless exercise or liquidity action. Sales executed under a pre-established 10b5-1 plan indicate they were pre-planned and not ad hoc. These transactions are factual disclosures of insider activity and do not, by themselves, indicate the director’s future view of the company.