Snowflake Director Frank Slootman Files Form 144 to Sell $94.9M in Common Stock

Executive Summary

On October 19, 2026, Frank Slootman, Director and former CEO of Snowflake Inc., filed a Form 144 notice disclosing the intent to sell 300,000 shares of Snowflake common stock with an aggregate market value of approximately $94.93 million. The proposed transaction is scheduled to take place on or around October 19, 2026, via Fidelity Brokerage Services LLC.

Transaction & Acquisition Details

• Security: Common Stock
• Proposed Sale Volume: 300,000 shares (~0.09% of 352,800,000 shares outstanding)
• Gross Value: $94,930,165.97
• Implied Share Price: ~$316.43 per share
• Acquisition Source: Acquired on October 19, 2026, via cash exercise of stock options from the issuer.
• Pre-Scheduled Trading Plan: The sales are conducted pursuant to a Rule 10b5-1 trading plan adopted on September 19, 2025.

Historical Context & Selling Pattern

Over the preceding three months, Slootman has engaged in systematic monthly option exercise-and-sale blocks totaling approximately 300,000 shares per cycle:

• July 2026: 300,000 shares sold across July 20 and July 21 for total proceeds of ~$82.32M.
• August 2026: 300,000 shares sold across August 18 and August 19 for total proceeds of ~$97.43M.
• September 2026: 308,191 shares sold across September 16, 18, and 21 for total proceeds of ~$102.95M.

Market & Governance Impact

While a $94.9M block is large in nominal dollar terms, the execution under an established Rule 10b5-1 plan and the predictable cadence of option monetization mitigate concerns of abrupt sentiment shifts.