The cloud data firm grants CEO Sridhar Ramaswamy up to $448 million in stock awards contingent on aggressive valuation targets.
Snowflake announced a $448 million compensation package for CEO Sridhar Ramaswamy, structured as 1 million shares tied to the company’s market value reaching $184 billion within seven years. The award is divided into five tranches, each requiring higher stock price milestones, with the final tranche demanding a share price of $531 by July 2033, up from $271.87 at Wednesday’s close.
The plan aims to retain Ramaswamy through September 15, 2030, with service requirements for tranches extending to September 2029 and 2030. Snowflake’s current market capitalization stands at roughly $84 billion, meaning the targets imply a near-doubling of its valuation. The package includes clawback provisions for misconduct or accounting restatements.
Snowflake shares have climbed 24% this year, supported by strong demand for its cloud-based data analytics platform. In May, the company raised its annual product revenue forecast and secured a $6 billion deal with Amazon Web Services.