Ramaswamy Sridhar 4

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.