$SNOW · Snowflake Inc.
Snowflake director Mark Garrett exercised 50,000 options at $3.74 per share and immediately sold all 50,000 shares at $350.00 each, realizing $17.5 million in proceeds. The transaction was not conducted under a 10b5-1 trading plan.
- Director Mark Garrett sold 50,000 shares at $350.00 each, totaling $17.5 million.
- The shares were acquired via option exercise at $3.74 per share — a ~93x gain on the strike price.
- Post-transaction, Garrett holds 10,074 shares directly.
- The sale was not executed under a 10b5-1 trading plan.
- Garrett is a non-executive director, not an officer.
SNOW closed at $331.48, down 1.20% on the day and -0.53% since the filing time of $333.26. Director sales without a 10b5-1 plan can weigh on sentiment, but the modest intraday move suggests limited immediate concern given the $114.89B market cap.
A non-executive director cashing out $17.5M without a 10b5-1 plan, leaving only 10,074 shares, raises questions about insider conviction at current levels.
_Not applicable._
Non-10b5-1 sales by directors can signal reduced insider confidence, though the remaining 10,074-share stake provides some alignment.
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