Snowflake Affiliate Michael Speiser Files Form 144 to Sell $17.5M in Stock

Overview

On October 2, 2026, Michael L. Speiser, an affiliate of Snowflake Inc. ($SNOW), filed Form 144 disclosing a proposed sale of 50,741 shares of common stock with an aggregate market value of approximately $17.45 million through Stifel Nicolaus & Company Inc.

Transaction Details

• Shares to Sell: 50,741 common shares
• Estimated Aggregate Market Value: $17,454,904 (~$344.00 per share)
• Shares Outstanding: 346,600,000 (proposed sale represents ~0.015% of outstanding shares)
• Rule 10b5-1 Trading Plan: The sales are conducted pursuant to a pre-arranged trading plan adopted on December 27, 2024.
• Ownership Breakdown: The filing notes that 37,365 shares are sold via trusts where Mr. Speiser serves as trustee, 403 shares through an IRA, and 12,973 shares through a limited partnership.

Historical Context & Cadence

This filing follows a consistent monthly programmatic selling pattern under the same 10b5-1 plan:

• September 4, 2026: 50,741 shares sold for $17,955,783
• August 7, 2026: 50,741 shares sold for $16,443,118
• July 6, 2026: 50,741 shares sold for $13,086,427

Market Impact & Significance

Trading significance is rated as Medium. Although the dollar amount is substantial (~$17.5M), the transactions are routine, highly predictable monthly executions under a long-standing Rule 10b5-1 plan adopted nearly two years prior, representing minimal dilution to Snowflake's overall share base.