The cloud data firm awarded its chief executive 1 million restricted stock units tied to performance metrics in a recent SEC filing.
Snowflake has granted CEO Sridhar Ramaswamy 1 million performance-based restricted stock units as part of his compensation package. The move was disclosed in a filing with the Securities and Exchange Commission on Thursday.
The stock units are contingent on specific performance criteria, though details of the stock price requirements were not fully outlined in the filing. Such grants are typically tied to company performance targets over a multi-year period.
The award reflects ongoing efforts to align executive compensation with long-term shareholder value, a common practice among publicly traded technology firms.