Snowflake (SNOW) Director Benoit Dageville Sells 50,000 Shares

What Happened
Benoit Dageville, a director of Snowflake (SNOW), disposed of shares in several transactions tied to RSU vesting and a pre-established trading plan. The largest was an open-market sale of 50,000 shares on 2026-09-09 at $335.72 per share, totaling approximately $16,786,000. Prior to that, on 2026-09-08 he had 555 shares and 232 shares withheld to satisfy tax withholding on RSU vesting (both at $337.18, totaling $187,135 and $78,226 respectively). The filing also reports a gift of 16,668 shares on 2026-09-09 (no proceeds).

Key Details

• Transaction dates and amounts:
  • 2026-09-08: 555 shares withheld for taxes @ $337.18 = $187,135 (F)
  • 2026-09-08: 232 shares withheld for taxes @ $337.18 = $78,226 (F)
  • 2026-09-09: Open-market sale of 50,000 shares @ $335.72 = $16,786,000 (S)
  • 2026-09-09: Gift of 16,668 shares @ $0 (G)
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• Footnotes of note:
  • F1/F2: Withheld shares reflect tax withholding on RSU vesting.
  • F3: The gift and the open-market sale were executed under a 10b5-1 trading plan adopted April 3, 2026.
  • F4–F8: Some shares are held in trusts/GRATs (The Snow Trust, Selene/Thira GRATs); the reporting person disclaims beneficial ownership for certain GRAT-held shares where applicable.
• Filing: Form 4 filed 2026-09-10 reporting transactions dated 2026-09-08/09 (no late-filing flag indicated in the provided data).

Context

• The tax-withholding entries (F) are standard when restricted stock units vest and shares are surrendered to cover taxes — not an active market sell by choice. The larger 50,000-share disposition was an open-market sale executed under a pre-set 10b5-1 plan, meaning it followed a predetermined trading schedule.
• The 16,668-share gift is a non-sale transfer and generally doesn’t signal a trading view of the company.
• Sales by directors are common and can be for diversification or liquidity; these filings are factual records and do not disclose the insider’s motivation.