William J. Ready - 31 Aug 2022 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Chief Executive Officer, Director
Signature
Monifa Clayton, Attorney-in-Fact
Issuer symbol
PINS
Transactions as of
31 Aug 2022
Net transactions value
$0
Form type
4
Filing time
02 Sep 2022, 19:58:14 UTC
Previous filing
04 Aug 2022
Next filing
24 Oct 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PINS Class A Common Stock Award $0 +934,579 +420% $0.000000 1,157,130 31 Aug 2022 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding PINS Stock Option 8,553,172 31 Aug 2022 Class A Common Stock 8,553,172 $19.96 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These securities consist of 934,579 shares of Class A Common Stock, par value $0.00001 (Class A Common Stock), subject to certain restrictions, which were granted to the Reporting Person as Restricted Stock Awards (RSAs). Pursuant to his employment agreement, the Reporting Person was granted 934,579 RSAs on August 31, 2022, following his open market purchase of 222,551 shares of Class A Common Stock (the "Investment Shares"). The RSAs vest as follows:(i) 58,411 RSAs will vest on October 20, 2022, January 20, 2023, April 20, 2023, July 20, 2023, October 20, 2023, April 20, 2024, July 20, 2024, October 20, 2024, January 20, 2025, July 20, 2025, October 20, 2025, January 20, 2026, and April 20, 2026; and (ii) 58,412 RSAs will vest on January 20, 2024, April 20, 2025, and July 20, 2026, in each case, subject to Reporting Person's continued service as CEO and holding the Investment Shares through each such date.
F2 These securities consist of 222,551 shares of Class A Common Stock and 934,579 shares of Class A Common Stock RSAs.
F3 The stock option vests on a quarterly basis over a four-year period beginning on July 20, 2022.

Remarks:

The Power of Attorney for Mr. William Ready is filed as an exhibit to the Form 3 filed by Mr. Ready with the Securities and Exchange Commission on June 29, 2022, which is hereby incorporated by reference.