Snowflake Director Frank Slootman Files Form 144 to Sell $65.9M in Common Stock
Snowflake Inc.
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Filing Summary
=== SEC FORM 144 FILING ===
Company: Snowflake Inc. (SNOW)
Insider: Frank Slootman
Title: Director
Date: 2026-09-18
Shares: 197,209
Est. Value: $65,888,271.52 (~$334.10/share)
Nature: Stock Option Exercise & Proposed Sale
Trading Plan: Rule 10b5-1 (Adopted 2025-09-19)
Significance: High
Comprehensive Analysis
Overview of Transaction
On September 18, 2026, Frank Slootman, Director and former CEO of Snowflake Inc. (NYSE: SNOW), filed a Form 144 notice disclosing the proposed sale of 197,209 shares of common stock with an aggregate market value of approximately $65.89 million ($334.10 per share). The proposed broker is Fidelity Brokerage Services LLC, and the shares are being acquired on the same date via cash exercise of stock options.
10b5-1 Trading Plan
The notice indicates this transaction is executed pursuant to a pre-established Rule 10b5-1 trading plan adopted on September 19, 2025, satisfying standard cooling-off requirements.
Historical Selling Pattern
Over the past three months, Frank Slootman has conducted substantial periodic dispositions totaling over 900,000 shares across several dates:
- 06/18/2026: 200,000 shares ($44.85M)
- 06/26/2026 - 06/29/2026: 100,000 shares (~$25.17M)
- 07/20/2026 - 07/21/2026: 300,000 shares (~$82.32M)
- 08/18/2026 - 08/19/2026: 300,000 shares (~$97.43M)
- 09/16/2026: 8,191 shares (~$2.61M)
Significance & Market Impact
The proposed transaction represents a continuation of programmatic selling under Slootman's 10b5-1 plan. Given the significant dollar size ($65.9M) and the insider's profile as the former chief executive and current board member, the filing warrants attention, though pre-scheduled plan execution mitigates potential signaling concerns regarding Snowflake's immediate business trajectory.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.