Benjamin Silbermann - Mar 19, 2025 Form 4 Insider Report for PINTEREST, INC. (PINS)

Role
Director, 10%+ Owner
Signature
Jacquie Katzel, Attorney-in-Fact
Stock symbol
PINS
Transactions as of
Mar 19, 2025
Transactions value $
-$3,181,291
Form type
4
Date filed
3/20/2025, 05:01 PM
Previous filing
Aug 6, 2024
Next filing
Mar 27, 2025
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 Conversion of derivative security $0 +83.3K $0.00 83.3K Mar 19, 2025 Benjamin and Divya Silbermann Family Trust F1
transaction PINS Class A Common Stock Sale -$2.6M -83.3K -100% $31.16 0 Mar 19, 2025 Benjamin and Divya Silbermann Family Trust F2, F3
transaction PINS Class A Common Stock Conversion of derivative security $0 +18.8K $0.00 18.8K Mar 19, 2025 SFTC, LLC F4, F5
transaction PINS Class A Common Stock Sale -$584K -18.8K -100% $31.16 0 Mar 19, 2025 SFTC, LLC F2, F5, F6
holding PINS Class A Common Stock 6.27K Mar 19, 2025 Direct F7

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
transaction PINS Class B Common Stock Conversion of derivative security $0 -83.3K -0.22% $0.00 37.7M Mar 19, 2025 Class A Common Stock 83.3K Benjamin and Divya Silbermann Family Trust F1, F8
transaction PINS Class B Common Stock Conversion of derivative security $0 -18.8K -0.2% $0.00 9.19M Mar 19, 2025 Class A Common Stock 18.8K SFTC, LLC F4, F5, F8
holding PINS Class B Common Stock 1.17M Mar 19, 2025 Class A Common Stock 1.17M Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents the conversion of shares of Class B Common Stock, par value $0.00001 ("Class B Common Stock") into 83,333 shares of Class A Common Stock, par value $0.00001 ("Class A Common Stock") in connection with the sale of such shares pursuant to a Rule 10b5-1 trading plan.
F2 The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan.
F3 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $30.99 to $31.35 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 Represents the conversion of shares of Class B Common Stock into 18,750 shares of Class A Common Stock in connection with the sale of such shares pursuant to a Rule 10b5-1 trading plan.
F5 Mr. Silbermann disclaims beneficial ownership of the shares held by the SFTC, LLC, a Delaware limited liability company owned by The Silbermann 2012 Irrevocable Trust. This report shall not be deemed an admission that he is the beneficial owner of such shares, except to the extent of his pecuniary interest, if any, in such shares by virtue of certain of his immediate family members' interests in The Silbermann 2012 Irrevocable Trust.
F6 The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $31.00 to $31.31 per share. The Reporting Person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F7 Represents previously reported RSUs that are subject to vesting requirements.
F8 Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of the Company's Class A Common Stock. Additionally, each share of Class B Common Stock will, subject to certain exceptions, convert automatically into one share of Class A Common Stock upon any transfer, and in other circumstances as outlined in the Issuer's Certificate of Incorporation.