Ramaswamy Sridhar 4
4 · Snowflake Inc. · Filed Jul 17, 2026
Research Summary
AI-generated summary of this filing
Snowflake (SNOW) CEO Ramaswamy Sridhar Receives 1,000,000-Share Award
What Happened
Ramaswamy Sridhar, Snowflake's Chief Executive Officer, was granted 1,000,000 performance stock units (PSUs) on July 15, 2026. The award is recorded as a derivative grant (price $0.00) — each PSU represents a contingent right to receive one share of Snowflake common stock if vesting conditions are met. No cash was paid in connection with this grant.
Key Details
- Transaction date: 2026-07-15; Form 4 filed 2026-07-17 (timely filing).
- Grant: 1,000,000 PSUs; acquisition price shown as $0.00 (derivative award).
- Vesting structure: five tranches. Tranches 1 & 2 (aggregate 250,000 PSUs) have a service-based vest date of Sept 15, 2029; tranches 3–5 (aggregate 750,000 PSUs) have a service-based vest date of Sept 15, 2030.
- Vesting conditions: each tranche requires both continued service through the applicable date and achievement of a stock price target (certified by the compensation committee based on a consecutive 90-calendar-day average closing-price test).
- Shares owned after the grant not specified in the provided filing.
Context
This is a performance-based, long-term incentive grant — not an open-market purchase or sale. PSUs only convert into actual shares if the service and stock-price performance conditions are satisfied, so the award does not immediately increase Sridhar’s shareholdings. Such awards are commonly used for executive retention and performance alignment.
Insider Transaction Report
- Award
Performance Stock Units
[F1][F2]2026-07-15+1,000,000→ 1,000,000 totalExp: 2033-07-15→ Common Stock (1,000,000 underlying)
Footnotes (2)
- [F1]Each performance stock unit ("PSU") represents a contingent right to receive one share of Issuer's common stock.
- [F2]The PSUs are divided into five tranches, each with an applicable performance period, the vesting of which is based on the achievement of both a service-based requirement and a stock price requirement. The service-based requirement will be met on September 15, 2029 for tranches 1 and 2, containing an aggregate of 250,000 PSUs, and September 15, 2030 for tranches 3, 4 and 5, containing an aggregate of 750,000 PSUs, in each case, subject to the Reporting Person's service as Issuer's Chief Executive Officer through each such date. The stock price requirement with respect to each tranche will be met on the date on which the compensation committee of Issuer's board of directors certifies that, prior to the end of the applicable performance period, the average closing price per share of Issuer's common stock over a consecutive ninety (90) calendar day period has met or exceeded the applicable stock price target previously determined by the compensation committee.