Snowflake Inc SEC Filings

Stryker (SYK) 2Q 2025 10-Q highlights: Net sales grew 11.1 % YoY to $6.02 bn, led by MedSurg & Neurotechnology (+17 %) while Orthopaedics inched up 2 %. Constant-currency growth was 10.3 %. Gross margin rose 80 bps to 63.8 %, but operating margin slipped 90 bps to 18.5 % as acquisition-related amortization and inventory step-ups offset scale gains. Net earnings increased 7 % to $884 m; diluted EPS reached $2.29 (+$0.15).

Six-month view: Revenue advanced 11.5 % to $11.89 bn, yet net income fell 4.6 % to $1.54 bn and EPS to $3.98, pressured by SG&A (+19 %), $99 m inventory fair-value charges and $90 m impairments. The $4.81 bn Inari acquisition (Feb-25) lifted Vascular sales 42 % YTD, but cut cash to $2.38 bn (-$1.28 bn YTD) and pushed total debt to $16.58 bn (+22 %) after $3 bn of new notes. Goodwill jumped to $19.18 bn (+$3.33 bn). Operating cash flow strengthened 63 % to $1.36 bn on working-capital gains. Effective tax rate declined to 13.0 % (vs 17.3 %) due to disposition-related benefits. Spinal Implants divestiture closed in April; related assets removed and valuation allowance recorded.

Snowflake Inc. (SNOW) Form 144 filing reveals that insider Christopher W. Degnan plans to sell 7,188 Class A shares through Fidelity Brokerage on or after 01 Aug 2025. The proposed sale is valued at $1.56 million, a negligible 0.002 % of the company’s 333.7 million shares outstanding.

The stock originates from an employee option granted 11 Dec 2019 and will be exercised for cash before the sale. Degnan has already disposed of 21,564 shares in the past three months across four transactions, realising $4.34 million in gross proceeds. While the transaction size is immaterial to Snowflake’s float and does not alter fundamentals, it extends a recent pattern of insider monetisation that investors may monitor.

Compass, Inc. filed a Form D reporting completion of a $501,897 private placement of Class A common stock under Rule 506(b). The shares were issued on 16 Jul 2025 to a single investor in satisfaction of a hold-back obligation from a prior acquisition; therefore the transaction is tied to a business-combination settlement rather than a new cash raise.

The New York-based Delaware corporation is classified as operating in the Residential Real Estate industry and discloses annual revenue of over $100 million. Minimum outside investment was $10,000; no non-accredited investors participated. No sales commissions or finder’s fees were paid, and the issuer does not expect the offering to continue beyond one year.

Given the company’s revenue scale, the 0.5 million-dollar issuance appears immaterial and enables Compass to conserve cash while meeting acquisition-related obligations with negligible dilution.

Form 4 filing for Auburn National Bancorporation (AUBN) discloses that Robert Lawrence Smith, Senior Vice-President & Chief Lending Officer, acquired 421 shares of AUBN common stock on 24 Jul 2025. The shares were granted as restricted stock units (RSUs) under the company’s 2024 Equity and Incentive Compensation Plan and are scheduled to vest on 10 Mar 2026.

The transaction, coded “A” (award), was reported at a reference price of $28.34. Following the grant, Smith’s direct beneficial ownership rises to 806 shares. No derivative securities, sales, or disposals were reported.

The filing represents an officer-level insider increasing equity exposure via compensation-related RSUs; it does not include cash purchases, sales, or changes to derivative positions.

Amendment No. 3 to Schedule 13D reports that Hannover Holdings S.A., Baitcon Investments Ltd., Ellipse Global Holding Ltd. and Tanhill Management Ltd. (the “Reporting Persons”) collectively beneficially own 5,194,043 Class A shares of Satellogic Inc. (SATL). The shares are held directly by Hannover and equal 5.7 % of the 90,526,937 Class A shares outstanding as of 2 May 2025. The event triggering the filing occurred on 23 Jul 2025.

This filing updates the initial 13D submitted on 2 Feb 2023 and subsequent amendments on 3 Jun 2025 and 6 Jun 2025. Each Reporting Person claims sole voting and dispositive power over the disclosed shares; no shared power is reported. Exhibit 99.1 (not included in the excerpt) details open-market transactions executed within the past 60 days. The amendment does not announce new agreements, activist intentions or changes to Satellogic’s capital structure; it solely refreshes ownership data now that the stake remains above the 5 % reporting threshold.

Form 144 indicates that Benoit Dageville intends to sell 25,000 Class A shares of Snowflake Inc. (SNOW) through Fidelity Brokerage on 24 Jul 2025. The shares carry an aggregate market value of $5.37 million; Snowflake reports 333.7 million Class A shares outstanding, so the proposed sale equals roughly 0.007 % of that class.

The filing also details insider activity during the prior three months: Dageville sold 103,330 shares between 1 May and 10 Jul 2025 for gross proceeds of about $20.6 million. Combined with the planned sale, insider dispositions over the period total approximately 128,330 shares (~0.038 % of shares outstanding) and $26 million in proceeds.

No financing arrangements, gifts, or non-cash consideration are disclosed; acquisitions originated from option grants dated 2017 and 2019 and were paid in cash. The signer affirms no undisclosed material adverse information and, if relying on Rule 10b5-1, that a trading plan is in place.

Snowflake Inc. (SNOW) – Form 4 insider activity dated 07/10/2025

President of Products and Co-Founder Benoit Dageville executed a 10b5-1 trading plan that involved three transactions on the same day:

• Option exercise (Code M): 25,000 shares acquired at an exercise price of $0.74.
• Open-market sale (Code S): the same 25,000 shares were sold at an average price of $221.83, generating proceeds of roughly $5.5 million.
• Gift (Code G): 7,500 shares transferred at no cost to The Snow Trust.

Post-transaction, Dageville directly owns 58,325 common shares, while indirect holdings via several trusts total more than 3.1 million shares, with additional 750 k-share positions each in two GRAT structures that he either disclaims or partially controls.

The option that was exercised is fully vested and expires 02/07/2027. All moves were executed under a previously adopted 10b5-1 plan (03/28/2025), signalling a pre-scheduled diversification rather than ad-hoc selling.

Snowflake Inc. (SNOW) – Form 144 Insider Sale Notice

The filing discloses that company co-founder Benoit Dageville has filed a Form 144 indicating his intent to sell 25,000 Class A shares of Snowflake on or about 10 July 2025. At the reference price embedded in the form, the transaction would be valued at approximately $5.55 million. The shares were acquired through employee stock options granted on 8 February 2017 and will be sold through Fidelity Brokerage Services on the NYSE.

Recent selling activity:

• Over the past three months, Dageville has already completed eight sales totaling 84,580 shares for ~$16.0 million in gross proceeds.
• Including the proposed sale, his cumulative sales disclosed in this filing period could reach 109,580 shares.

Float context: Snowflake has 333.7 million shares outstanding; the new sale represents roughly 0.0075 % of the float, suggesting limited direct supply-side pressure. However, sustained insider selling by a key founder can weigh on sentiment, particularly ahead of earnings or strategic announcements.

Regulatory & procedural notes: A Form 144 is a notice rather than a commitment; the seller may ultimately sell fewer shares or none at all. The signer attests to possessing no undisclosed material adverse information and can rely on Rule 10b5-1 if trades occur under a pre-arranged plan.

GS Finance Corp., a subsidiary of The Goldman Sachs Group, Inc., is issuing $592,000 of Autocallable Equity-Linked Notes due July 15, 2030 under its Series F medium-term note program. The notes are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. and will be sold at 100% of face value on the original issue date of July 10 2025.

Structure: the zero-coupon notes provide two potential payment scenarios:

• Automatic call – If, on the single call observation date (July 7 2027), the closing price of each reference stock (UNH, CRWD, AMZN, PLTR, NVDA) is ≥ 80% of its initial price, the notes are redeemed early for $1,450 per $1,000 face amount (45.0% gross return, ≈18% IRR).
• Maturity payment – If not called, holders receive on July 15 2030:
• Face amount × [1 + 100% × lesser-performing stock return] if each final price > initial price.
• Face amount ($1,000) if any final price ≤ initial price.

Reference stock initial prices: UNH $303.71; CRWD $505.46; AMZN $223.47; PLTR $139.12; NVDA $158.24 (all recorded on trade date 07-07-25).

Economics & fees: underwriting discount 1.125%; net proceeds 98.875%. The estimated value at pricing is $938 per $1,000, reflecting model value minus fees and hedging spread. GS &Co.’s bid/ask adjustment ($62) amortises to zero by 10-07-25, after which secondary quotes align with the model value.

Risk / return profile:

• Principal preservation – No loss of principal provided GS and guarantor remain solvent.
• Upside capped – 45% maximum via automatic call; otherwise uncapped but only if all five stocks rise.
• Worst-of basket – Maturity upside linked to single worst performer; any lagging stock nullifies growth.
• Credit risk – Payments depend on GS Finance Corp. and The Goldman Sachs Group, Inc.
• Liquidity – No listing; market-making discretionary; investors may face wide spreads.
• Valuation discount – Issue price exceeds model value by 6.2%, creating negative carry if sold early.

Key dates: Trade 07-07-25 | Issue 07-10-25 | Call observation 07-07-27 | Call payment 07-14-27 | Determination 07-08-30 | Maturity 07-15-30.

Investors seeking equity exposure with principal protection and potential for a 45% pre-maturity return may find the notes attractive, but must weigh valuation discount, concentration in five high-beta technology / healthcare names, call risk, and Goldman Sachs credit exposure.