Snowflake Director Departs, New Director Appointed

TL;DR

Snowflake board shakeup: Scarpino out, Schneider in. Compensation details also filed.

AI Summary

Snowflake Inc. announced on June 30, 2024, the departure of director Michael L. D. Scarpino and the appointment of new director David L. Schneider. The company also disclosed compensatory arrangements for certain officers, though specific details and dollar amounts are not provided in this excerpt.

Why It Matters

Changes in board composition can signal shifts in company strategy or governance, while details on executive compensation are crucial for understanding shareholder value and executive incentives.

Risk Assessment

Risk Level: medium — Board changes and executive compensation disclosures can impact investor confidence and signal potential strategic shifts.

Key Players & Entities

• Snowflake Inc. (company) — Registrant
• Michael L. D. Scarpino (person) — Departing Director
• David L. Schneider (person) — Appointed Director
• June 30, 2024 (date) — Date of earliest event reported

FAQ

From the Filing

0001640147-24-000183.txt : 20240702 0001640147-24-000183.hdr.sgml : 20240702 20240702165518 ACCESSION NUMBER: 0001640147-24-000183 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240630 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240702 DATE AS OF CHANGE: 20240702 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Snowflake Inc. CENTRAL INDEX KEY: 0001640147 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 460636374 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39504 FILM NUMBER: 241096582 BUSINESS ADDRESS: STREET 1: 106 EAST BABCOCK STREET STREET 2: SUITE 3A CITY: BOZEMAN STATE: MT ZIP: 59715 BUSINESS PHONE: 844-766-9355 MAIL ADDRESS: STREET 1: 106 EAST BABCOCK STREET STREET 2: SUITE 3A CITY: BOZEMAN STATE: MT ZIP: 59715 FORMER COMPANY: FORMER CONFORMED NAME: Snowflake Computing, Inc. DATE OF NAME CHANGE: 20150421 8-K 1 snow-20240630.htm 8-K snow-20240630 0001640147 false 0001640147 2024-06-30 2024-06-30 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 30, 2024 SNOWFLAKE INC. (Exact name of registrant as specified in its charter) Delaware 001-39504 46-0636374 (State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification No.) Suite 3A, 106 East Babcock Street 59715 Bozeman, Montana (Address of Principal Executive Offices) 1 (Zip Code) ( 844 ) 766-9355 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value SNOW The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 1 The Company is a Delaware corporation with a globally distributed workforce and no corporate headquarters. Under the Securities and Exchange Commission's rules, the Company is required to designate a “principal executive office.” For purposes of this report, it has designated its office in Bozeman, Montana as its principal executive office. Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 30, 2024, Grzegorz (Greg) Czajkowski, EVP, Engineering and Support of Snowflake Inc. (the “ Company ”), notified the Company o