Dageville Benoit 4

What Happened

• Benoit Dageville, a Snowflake (SNOW) director, exercised stock options and sold shares on July 2, 2026. He exercised two option blocks totaling 256,035 shares (135,134 and 120,901) at $0.74 per share (total exercise cost ~$189,466). On the same day he sold 190,819 shares in open-market transactions at $254.64 per share for gross proceeds of about $48,590,150. He also gifted 16,668 shares that day. The filing shows the option(s) are fully vested.

Key Details

• Transaction date: July 2, 2026; Form 4 filed July 6, 2026.
• Exercise details: 135,134 and 120,901 shares acquired at $0.74 each (total cash paid ≈ $189,466).
• Sales: 140,819 shares sold @ $254.64 = $35,858,150; 50,000 shares sold @ $254.64 = $12,732,000; total ≈ $48,590,150.
• Gift: 16,668 shares reported as a gift (no proceeds).
• Additional entries show conversion/settlement of the exercised derivatives (reported with $0.00 disposition value) — a reporting detail related to the option-to-share conversion.
• A 10b5-1 trading plan adopted April 3, 2026 was used for these exercises, sales, and the gift (footnote F1).
• Option status: fully vested (footnote F8).
• Holdings: several blocks are held in trustee vehicles (The Snow Trust, Selene and Thira GRATs); some trusts are managed by the reporting person or spouse and certain shares are disclaimed as not beneficially owned (see footnotes F3–F7).
• Shares owned after the transactions: not specified in the provided filing.

Context

• This was an exercise of options followed largely by same-day open-market sales — a common pattern that can be a cashless or partial cashless exercise (exercising options and selling shares to cover costs/taxes). The presence of a 10b5-1 plan indicates the trades were executed under a pre-established trading plan. Gifts do not necessarily reflect the insider’s market view. This filing is factual and does not indicate the insider's motivation.