Snowflake Inc. Reports Grant of Performance-Based Restricted Stock Unit Award to CEO
Summary
On July 15, 2026, Snowflake Inc.'s Compensation Committee granted a performance-based restricted stock unit (PSU) award to CEO Sridhar Ramaswamy. This "CEO Performance Award" consists of 1,000,000 shares of the Company's common stock. Vesting requires both a service-based and a stock price-based component. The stock price requirement is structured into five tranches, designed to culminate in adding up to $100 billion of stockholder value from the closing price on July 15, 2026.
Why It Matters
This award is material as it incentivizes CEO Sridhar Ramaswamy for long-term value creation and retention, aligning his interests with stockholders. The demanding stock price milestones, designed to add up to $100 billion in stockholder value, and the forfeiture condition for unmet targets, underscore a strong performance-based compensation structure.
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Key Quote
“Except as set forth below, if a stock price requirement is not met by the end of the relevant performance period, the related tranche of PSUs will be forfeited.”
— From Item 5.02
Filing Details
Reported Items
Additional Information
- CIK Number
- 0001640147
- Filing Date
- Thursday, July 16, 2026
- Filing Time
- 12:00 AM UTC
- Form Type
- 8-K
- Materiality Level
- high
- Sentiment
- positive