Snowflake announced a significant performance-based restricted stock unit (PSU) award for CEO Sridhar Ramaswamy, consisting of 1,000,000 shares. The award is designed to incentivize long-term shareholder value creation, with vesting contingent on achieving both multi-year service requirements and ambitious stock price milestones.
Key Details
- Award: 1,000,000 Performance-Based Restricted Stock Units (PSUs) granted on July 15, 2026.
- Vesting Milestones: The award vests in five tranches upon reaching specific 90-day average stock price targets, ranging from $324 to $531 per share, over performance periods of up to seven years.
- Service Requirement: Full vesting requires Mr. Ramaswamy's continued service as CEO through September 15, 2029 for the first two tranches, and through September 15, 2030 for the final three tranches.